11 Multifamily Statistics to Know in 2026

Numbers can make a strategy smarter, but only when they come with context. Rental conditions vary by metro, submarket, asset class, and price point. National data can help multifamily marketers understand the pressure renters and operators are navigating, but it should sharpen a question, not replace local research.

With that reality check in place, here are 11 statistics worth keeping in context in 2026.

1. The national rental vacancy rate was 7.3 percent in the first quarter of 2026

The U.S. Census Bureau reported a 7.3 percent rental vacancy rate in the first quarter of 2026. National data is useful for context, but it should never replace a local supply and demand review.

2. Professionally managed apartment rents declined 0.6 percent year over year in late 2025

Harvard’s Joint Center for Housing Studies reported that asking rents for professionally managed apartments were down 0.6 percent year over year in the fourth quarter of 2025, with large-market variation behind the national figure.

3. Vacancy in professionally managed apartments was 5.2 percent in the fourth quarter of 2025

That same JCHS analysis reported a 5.2 percent vacancy rate. Use it as a signal to investigate local competition, concessions, and renter demand, not as a forecast for every community.

4. Apartment household growth reached 784,000 in the second quarter of 2025

JCHS reported a record-high annual increase of 784,000 apartment households in the second quarter of 2025 before growth slowed later in the year.

5. Apartment household growth slowed to 366,000 by the fourth quarter of 2025

The slowdown is a reminder that demand does not move in a straight line. Marketing plans should be revisited as local leasing conditions change.

6. 416,000 multifamily units were started in 2025

JCHS reports that 416,000 multifamily units were started in 2025. That was below the recent peak but above the pre-pandemic average.

7. 488,000 multifamily units were completed in 2025

After a record 608,000 completions in 2024, 488,000 units were completed in 2025. New supply can change the competitive story quickly in markets with concentrated deliveries.

8. 686,000 multifamily units were under construction in 2025

The pipeline has cooled from its 2023 high, but it remains significant. Review the local pipeline before assuming a national trend will show up the same way in your market.

9. 49 percent of renter households were cost burdened in 2024

JCHS reported 22.7 million cost-burdened renter households in 2024, representing 49 percent of renters. Cost burden means paying more than 30 percent of income for rent and utilities.

10. 26 percent of renters were severely cost burdened in 2024

More than one in four renters spent over half of income on rent and utilities, according to JCHS. That context matters when writing value propositions, explaining fees, and designing communication around affordability.

11. Units renting for at least $1,400 grew by 11.8 million from 2014 to 2024

JCHS found that the rental distribution shifted upward over the decade, while the number of units renting for less than $1,400 declined. It is one more reason to make the value of a community clear and specific.

What to do with the data

Use national statistics to frame a planning conversation, then pair them with your own market data, leasing-team input, and website behavior. The goal is not to repeat a statistic in an ad. It is to understand the renter’s decision more clearly.

The numbers matter. What your team does with them matters more. Criterion B can help turn market context into a clearer multifamily marketing plan.