Multifamily Trends You Can’t Ignore: ALN’s 2025 Midyear Market Update
Watch the replay from the ALN Apartment Data live webinar “ALN National Data Briefing: Trends Shaping Multifamily”
Culmination of Multiyear Demand Trend Beginning to Unfold
2025 has gotten off to an unusually volatile start for apartment demand on a month-over-month basis. Despite these early fluctuations, longer-term trends are uniformly positive. Both over the last twelve months, and year-to-date through April, national net absorption has continued along an upward trajectory that began in 2023. Encouragingly, the continued improvement has been widespread…
Top 10: Market Net Absorption
Apartment demand has been unusually volatile month-over-month to begin the year. Even so, national net absorption through April was significantly higher than that from 2024. This year is the third consecutive year of improved multifamily demand for this portion of the calendar. In order to provide a clear picture of market leaders in net absorption…
A Closer Look at Improved Rent Performance
Average effective rent growth for new leases has shown strong improvement over the last year. After peaking out a modest 0.9% gain in the previous twelve-month period, the national average effective rent has grown by 3.5% over the last twelve months. Below the national average, some important distinctions have emerged. All numbers will refer to…
Results Mixed in the First Quarter
This year’s opening quarter included multiple interesting developments that will have ramifications for multifamily performance as 2025 unfolds. Outside the industry, in just the first few days of April, seismic U.S. trade policy changes are just beginning to make their early impact felt. As has been the case for the last handful of years, there…
Faltering Demand in Middle Price Tiers
A more detailed analysis of multifamily performance in the first quarter will be the subject of the forthcoming ALN newsletter for April. In broad strokes, new supply continued its surge, apartment demand cooled, and rent growth picked up. One area below the national level in which some clear differences emerged was price class performance. All…
Despite Volatility, 2025 Off to Strong Start
The last three months have been encouraging for the multifamily industry and provide some early cause for cautious optimism looking forward.
The Shifting Contours of New Supply
This year, the number of new units is expected to decline from its 2024 peak but will still be substantial relative to historic norms.
Apartment Demand Faltered in January
Just one month into the new year, there are already interesting developments occurring in multifamily performance.