A combination of strong employment growth, sustained high interest rates, and a challenging single-family homebuyers’ market is driving demand for multifamily units. All four Mid-Atlantic markets had occupancy above 94% as of the third quarter of 2024. The Washington, DC metro is the largest Mid-Atlantic market by a significant margin, with more than 690,000 units of inventory. It also achieves the highest effective rents with an average rate of $2,210 per unit as of the third quarter of 2024.
Download Mid-Atlantic Multifamily Market Report 3Q24- Insights>
- Market Report Page>
- Mid-Atlantic Multifamily Real Estate Market Repor…
Mid-Atlantic Multifamily Real Estate Market Reports
Quarterly, Newmark curates the Mid-Atlantic Multifamily Real Estate Market Report to support well-informed business decisions for commercial real estate owners, investors and occupiers. The report publishes the latest data and trends for multifamily real estate for Washington D.C., Baltimore, Philadelphia, Richmond and Norfolk.
