Industry News and Headlines

Multifamily Absorption Rate Remains Below 50%

The Census Bureau’s SOMA report shows the three‑month absorption rate for new apartments stayed below 50% for the fourth consecutive quarter, slipping to 47% in Q2 2026. Despite modest growth in completions—over 90,000 units for the seventh straight quarter—median asking rent rose 5.3% year‑over‑year to $1,860. Six‑month absorption improved to 70%, while nine‑ and twelve‑month rates reached 85% and 91% respectively. In contrast, new condominiums and co‑ops saw a 69% three‑month absorption rate as completions more than doubled.