Project financing tempers robust demand for multifamily housing

AEC Giants with multifamily practices report that the sector has been struggling over the past year, despite the high demand for housing, especially affordable products.

The average multifamily rent fell by $3 in September to $1,750, while year-over-year growth was unchanged at 0.9 percent.

Research platform StorageCafe has conducted an analysis of U.S. real estate activity from 1980 to 2023, focusing on six major sectors: single-family, multifamily, industrial, office, retail, and self-storage.

As the summer season winds down, student housing performance remains strong. Preleasing for Yardi 200 schools rose to 89.2% in July 2024, falling just slightly behind the same period last year.

Ending its six-month streak of growth, the average advertised multifamily rent fell by $1 in August 2024 to $1,741.

More than 1.2 billion sf of U.S. office space—14.8% of the nation’s total—have strong potential for conversion to residential use, according to real estate software and services firm Yardi. Yardi’s new Conversion Feasibility Index scores office buildings on their suitability for multifamily conversion.

Office-to-residential conversions may be fraught with fire and life safety challenges, from egress requirements to fire protection system gaps. Here are six important considerations to consider.

While the U.S. continues to maintain a steady pace of delivering new apartments, this year will be one for the record books.