News | Multifamily

October 10, 2025
US apartment rents fall in steepest September decline in more than 15 years
U.S. monthly apartment rent growth declined last month in its deepest September drop in more than 15 years as excess supply affected all parts of the country.
October 9, 2025
This just-sold luxury property shows how San Francisco's apartment demand is surging back
Back in 2021, when COVID-19 was causing shifts in the multifamily market, a new 12-story luxury San Francisco apartment building called the Vance invited prospective tenants to an autumn roof party with free drinks, food and prizes in exchange for touring a unit.
October 9, 2025
Florida construction company gears up for expansion with latest promotion
Kast Construction is gearing up to expand into new market sectors throughout Florida, promoting former chief operating officer Sean Ouellette to president to lead the construction management firm’s growth.
October 9, 2025
Developers sell second phase of luxury Miami River apartments
Developers Mast Capital and AEW Capital Management have sold Remi on the River, the second phase of a project formerly known as Waterline Miami River, for $108.32 million.
October 9, 2025
Chicago leads the nation in apartment rent growth amid tight supply
Chicago’s multifamily market is currently outpacing the nation in rent growth, with year-over-year asking rents rising by 3.7% at the end of the third quarter. This marks a notable acceleration from the 2.6% growth recorded at the same time in 2024, representing an increase of over 100 basis points. Nationally, rent growth remains subdued at just 0.6%, placing Chicago firmly at the top among the 25 largest markets.
October 9, 2025
Federal job cuts, budget uncertainty hit DC's multifamily sector
Washington, D.C.'s apartment market is losing momentum as leasing slows and vacancy edges higher, according to new data from CoStar.
October 9, 2025
Long Island's household incomes are climbing faster than apartment rents
The multifamily market on Long Island, New York, has seen demand and new construction surge since the second half of 2023. From the third quarter of 2023 to the third quarter of 2025, the area averaged about 360 units of absorption per quarter, significantly above the quarterly average for the preceding five years of 215 absorbed units. Construction reached an all-time high of almost 1,900 units in 2023 before tapering off in 2024 and 2025.
October 9, 2025
In the Puget Sound region, a supply surge leaves older apartments searching for renters
The Seattle metropolitan area’s apartment market shows signs of divergence between newer and older assets.
October 9, 2025
Investment volume in Portland, Oregon, drifts lower in the third quarter of 2025
Investment activity in Portland, Oregon, fell slightly in the third quarter of 2025. Early data suggest that the total volume across all property types — office, retail, industrial and multifamily — came in at $703 million, a 15.1% decrease from the second-quarter mark of $828 million.
October 9, 2025
Manhattan office conversion to begin, spurred by plan to boost housing
Midtown Manhattan has landed an office-to-residential conversion project in the wake of a newly approved rezoning plan that seeks to encourage more housing.
October 9, 2025
Change is in the air: What's on the minds of the world's real estate investors
There was a tangible sense the commercial property industry isn't just ready for better times but witnessing them at this year's Expo Real conference in Munich. It was boosted no doubt by an increase in delegates and almost chaotically busy scenes at the leading brokerage's stands.
October 8, 2025
CoStar World News for Oct. 9
October 8, 2025
Salt Lake City apartment rents decline for third straight month
Competition from new supply continues to weigh on Salt Lake City’s rent growth as landlords drop rates and offer generous concessions to compete for tenants.
October 8, 2025
Downtown Los Angeles landmark once known for rice cakes reopens as apartments
A former rice cake factory in downtown Los Angeles is now serving up affordable housing for hundreds near one of the city’s largest homeless populations.
October 8, 2025
Less time, more money: Developers tout Florida's new affordable housing law
The faster approvals process provided under Florida's Live Local Act for new real estate projects is saving developers time and money. And that makes them fans of the state's new affordable housing law.
October 8, 2025
Dubai developer plans first US location for its Siro hotel and branded condos
Dubai’s Kerzner International has announced a partnership with Miami’s 13th Floor Investments and Forse Holdings to build the first Siro-branded hotel and residences in the United States.
October 8, 2025
The growth gap between apartment rents, income has nearly closed in Stamford
The multifamily market in Stamford, Connecticut, has experienced dramatic changes since 2020. New construction has been a consistent factor, as total inventory increased by 25% since the beginning of the decade. However, despite the substantial increase in supply, rent growth still grew by 20% over the same period.
October 8, 2025
Investor interest in Houston’s apartment market strengthens; Signals renewed sector confidence
Houston multifamily sales volume reached its cyclical low in the first quarter of 2023. Since then, the quarterly dollar volume has been uneven, with large trades appearing sporadically and making it difficult to identify a consistent trend. Transaction count, however, offers a more stable signal.
October 8, 2025
Los Angeles multifamily construction cools after a decade of record growth
The Los Angeles multifamily supply pipeline is experiencing a deceleration following an extended period of heightened activity. Over the last 10 years, net deliveries averaged approximately 9,900 units annually, which is more than double the previous decade’s average (2006-2015) of 3,900 units per year. Similarly, the average number of units under construction each year reached around 101,000 in the past decade, nearly three times the 36,000-unit annual average reported between 2006 and 2015.
October 7, 2025
New York City business advocacy group looks to New Jersey for next leader
The Partnership for New York City, a high-profile business advocacy group, has named outgoing Jersey City, New Jersey, Mayor Steven Fulop as its next head. The move comes as the largest U.S. city’s business community braces for the uncertain impact of an election to determine new leadership in City Hall.

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