Top 10 Emerging Multifamily Markets in 2024

“The year 2023 could be considered the first relatively normal year since the onset of the pandemic, following two years of record performance within the multifamily market. The sector still advanced but at a slower pace. As we head into 2024, last year’s main challenges persist—rising inflation, interest rates and high expenses, as well as a looming economic slowdown. In addition, the multifamily market had some 1.2 million apartment units under construction at the start of 2024, 510,000 units of which are expected to come online by year’s end. As a result, supply expansion will play a great role in the market’s performance on a metro level.“