Slowdown in demand pushes multifamily vacancy to a seven-year high in Madison, Wisconsin

Madison’s multifamily market enters the last quarter of the year at an inflection point, with vacancy rising to 6.1% — a level not seen since mid-2018 and over twice the all-time low of 2.9% registered three years ago. However, it remains well below the national average of 8.2%, ranking 11th lowest across the 54 largest U.S. markets by inventory.