Multifamily Reports
Apartment Update®
Q3 2025 National Multifamily Report
Berkadia Research provides comprehensive multifamily market reports, focusing on apartment fundamentals that include supply, demand, rent, and occupancy as well as demographic and employment trends. We provide valuable insights that empower commercial real estate investors to make informed decisions regarding acquisition and disposition strategies as well as methods of financing.
Q3 2025 MULTIFAMILY REPORTS
Berkadia is excited to announce the official release of our National Multifamily Market Report for Q3 2025 plus more than 75 individual market reports from across the country!
These market reports will provide you with valuable insights on the latest multifamily and demographic trends to help you better navigate the current economic landscape and set your strategy for the remainder of this year.
National Themes:
- Apartment leasing ramped up in the last four quarters with nearly 637,100 net units absorbed, up 31.9% from the prior year’s total.
- Apartment deliveries continue to taper with approximately 474,900 units delivered in the last four quarters, down 14.2% year over year.
- Healthy housing demand combined with a rise in lease renewals led to a 100-basis-point increase in apartment occupancy to 95.4% in the third quarter of 2025.
- The favorable conditions led to monthly effective rent advancing 2.0% in the last four quarters, accelerating from 0.9% growth during the prior year.