Market-rate completions were on pace for ~314K US units in 2026, the first year since 2022 below the long-run norm as construction slowed.
Renters were absorbing ~376K units, bringing demand and supply close to balance and helping the US apartment market stabilize in Q3 recently.
In Late-Q3, monthly rents were flat MoM after yearly drops earlier, while Class B rents grew ~1%, showing improvement spread beyond top-tier units.
The rebound stayed uneven: Class C remained under pressure, and weaker real wage growth plus a steep immigration drop could limit demand in 2027.
An industry forecast called for ~2% rent growth from Q4 2026 through Q3 2027, with year-end rent trends worth watching if restraint continues.
Apartment Deliveries Drop Below Average in 2026 | Strategically priced. Expertly marketed. Under agreement in less than two days.

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