Current Reports

Single-Family Rental Investment Trends Report Q1 2026

Arbor’s Single-Family Rental Investment Trends Report Q1 2026, developed in partnership with Chandan Economics, spotlights how market shifts, including the rising cost of living and historically high build-to-rent activity, have fueled record rental household growth.

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Top Markets for Multifamily Building Permits

Multifamily permitting trends indicate continued national stability amid local recalibration. Across the country, issuances were steady, rising just 2.6% in 2025. At the metropolitan level, trends diverged sharply, with some markets accelerating and others pulling back. Per-capita leaders continued to cluster around high-growth Sun Belt and regional hubs, while year-over-year market-level fluctuations suggest that more pipelines have become increasingly selective and, in some cases, more concentrated in large-scale projects.

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Seven Facts About FHA Multifamily Loans

The Federal Housing Administration (FHA), a part of the U.S. Department of Housing and Urban Development (HUD), is one of the largest mortgage insurers in the world. The agency insures mortgages on affordable housing, multifamily properties, single-family homes, and healthcare facilities. Since 1934,  FHA has financed over 50,000 multifamily mortgages nationwide. Whether you’re interested in acquiring, refinancing, or rehabilitating an affordable housing property, FHA multifamily loans are a financing route you need to know about.

FHA 232/223(f)

FHA® 232/223(f): Healthcare Refinance, Acquisition or Mod Rehab  

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Top States for Population Growth

Despite a national slowdown, population growth remained concentrated in a small group of states in 2025, where strong net domestic migration inflows, economic opportunity, and in some cases elevated birth rates drove the annual increases. Overall, 14 states had an annual population growth rate above 0.75%, while 12 states had less than 0.1%, according to a Chandan Economics analysis of the U.S. Census Bureau’s 2024 American Community Survey.

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Arbor’s Build-to-Rent Financing: 10 Reasons to Choose a Premier Lender

Build-to-rent (BTR), a compelling solution to the U.S. housing market’s evolving needs, is experiencing record growth. BTR accounted for 8% of all single-family rental (SFR) construction starts in the 12 months that ended in the first quarter of 2024, according to Arbor’s Single-Family Rental Investment Trends Report Q2 2024. As the need for quality rental units remains high, borrowers have much to gain from partnering with an experienced lender who specializes in build-to-rent financing.

General: 800.ARBOR.10

Paul Elenio

Executive Vice President, Chief Financial Officer
Head shot of Paul Elenio Executive Vice President, Chief Financial Officer

As Executive Vice President, Chief Financial Officer, Mr. Elenio is responsible for overseeing all aspects of Arbor’s financial operations. This includes financial reporting, tax planning, budgeting and the appropriate utilization of Arbor’s capital. He is also in charge of Investor Relations for Arbor Realty Trust.

Mr. Elenio joined Arbor National Holdings, the predecessor company of Arbor Commercial Mortgage, in 1991. As the Financial Reporting and Tax Supervisor, he was involved in Arbor National Holding’s 1992 Initial Public Offering. In 1995, he was promoted to Vice President, Controller and in 2002 assumed the position of Vice President of Finance. In that role, he implemented the necessary financial planning and analysis required to successfully transition Arbor Realty Trust to a public company in April 2004. He was named Senior Vice President of Finance shortly thereafter.

Prior to joining Arbor, Mr. Elenio was employed with Ernst & Young from 1989 to 1990 in the auditing department. He graduated with a Bachelor of Business Administration in Accounting from St. Bonaventure University.

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