Analysis

Small Multifamily Investment Snapshot — March 2025

Amid ongoing macroeconomic uncertainty, the small multifamily sector remains favorably positioned for stability as the structural need for affordable housing in the U.S. has supported the strength of the sector’s demand profile.

Articles

Top Markets for Rental Occupancy

Nationally, vacancies have risen, but the performance of rental housing is extremely localized. Out of the 75 largest U.S. metropolitan areas, the occupancy rate for all types of rental properties, including single-family rentals, 2-4 family, multifamily, and mobile homes, increased in 36 markets last year, while exceeding 95% in nearly one-third of all markets, according to an analysis of newly released U.S. Census Bureau data.[1] From Grand Rapids, MI, to Columbia, SC, the top markets for rental occupancy show where conditions are tightest and demand is strongest.

Current Reports

Single-Family Rental Investment Trends Report Q1 2025

Arbor’s Single-Family Rental Investment Trends Report Q1 2025, published in partnership with Chandan Economics, is an up-close look at the single-family rental (SFR) sector as it enters a period of normalcy after explosive pandemic-era growth. SFR maintains its balance with the support of a healthy set of fundamentals while capital markets rebound and rent growth moderates.

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Small Multifamily Price Growth Trends Show Stabilization

Small multifamily price growth trends indicate a stabilization may be ready to take hold. Expanding on the findings of Arbor’s latest Small Multifamily Investment Trends Report, our research teams more closely examined valuations to determine if trends in pricing and other fundamentals are supporting a turnaround.

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SFR Rent Growth: Top Markets and Leading Regions

Elevated mortgage interest rates and high home prices boosted demand for single-family rentals (SFR) last year, supporting the growth of rents in almost all of the 100 largest metropolitan areas. Pricing momentum, which averaged 4.5% nationally, was concentrated in affordable markets in the Northeast and Midwest, an analysis of Zillow’s Observed Rent Index data shows.

Articles

Build-to-Rent’s Robust Activity Settles into Stable Pattern

Increasingly, single-family rental (SFR) operators have been relying on build-to-rent (BTR) development to satisfy their inventory needs. The popularity of BTR communities made economies of scale possible for the SFR sector in the recovery after the 2007 housing crisis and continues to fill a housing need nationwide. Now, newly released U.S. Census Bureau data shows that SFR development activity remained robust even as its momentum slowed, moving the sector into a more stable equilibrium.

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Home | In the News | Ivan Kaufman Talks 2021 Housing Demand on Yahoo! Finance Live

Ivan Kaufman Talks 2021 Housing Demand on Yahoo! Finance Live

Friday, May 07, 2021
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Ivan Kaufman on Yahoo! Finance Live

Arbor Realty Trust’s CEO discusses the company’s strong first-quarter earnings and his outlook for housing demand this year

Arbor has had an “unbelievable run,” with the first quarter of 2021 marking the 10th year in a row that the mortgage REIT has raised their dividend, noted Ivan Kaufman, founder, chairman and CEO of Arbor Realty Trust, Inc. (NYSE: ABR) in an interview on Yahoo! Finance Live with Adam Shapiro and Seana Smith. Much of Arbor’s success can be attributed to its focus on resilient asset classes like multifamily and single-family rental (SFR), he noted.

“We’re just in a great space. We’re a multifamily lender. We’re very active in the single-family rental space. Those segments of the economy are just ripping and roaring, fueled by low interest rates, an imbalance of supply and demand, and an attractive investment class. We’re just in the right place at the right time,” Kaufman said.

In the interview, Kaufman discussed why single-family rentals have become so appealing. While the market has largely been dominated by mom-and-pop investors, institutional players have slowly been entering the space since the Great Recession.

“With institutional capital coming and professional management coming to the space, it’s just becoming more and more attractive,” he said.

The pandemic has only accelerated demand for SFR product, as households began to move out of urban areas in search of more space and affordable prices in the near suburbs. As home prices have jumped in the last year, those priced out of the market are looking to rent homes as an alternative.

On the multifamily side, Kaufman noted that there is still a lot of demand and new developments are being leased up, albeit at a slower pace.

Kaufman also shared his outlook for housing demand in 2021, noting that home prices will likely only continue to go up due to the persistent imbalance of supply and demand.

“You’re going to see too many people looking to buy homes, not enough homes for sale. You’ll still see some level of appreciation,” he said, adding that if interest rates remain low, people will lean toward buying a home.

Labor market shortages and high lumber prices are also delaying construction of new homes. “You’re going to see a little bit of a slow move on new homes coming to market,” Kaufman noted.

Watch the full interview here.

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