Affordable Housing Market Snapshot — May 2024

As housing costs spiral, rental affordability has become a more urgent issue, burdening a greater number of Americans. With more funding on the way, policymakers and private market advocates are pressing ahead with plans to add units to an increasingly tight housing market.


The Probability Renters Will Keep Renting Hits Record High

The average renter thinks there is a three-in-five chance they will still be in the rental market in 2027, according to the New York Federal Reserve’s recently released 2024 SCE Housing Survey. Compared to last year, the probability of the average renter not becoming a homeowner in the next three years was up 4.3 percentage points, reaching its highest mark since the study began in 2015.

Current Reports

Small Multifamily Investment Trends Report Q2 2024

Small multifamily’s performance continues to conform to pre-pandemic norms typically seen before the historic boom years of 2021 and 2022. In the first quarter of 2024, cap rates and asset prices both improved quarter-over-quarter, Arbor’s Small Multifamily Investment Trends Report Q2 2024, developed in partnership with Chandan Economics, has found. The subsector’s fundamental strength will support steady growth amid tight credit conditions until interest rate relief invites increased investment activity.


U.S. Multifamily Market Snapshot — May 2024

Key fundamentals of the U.S. multifamily remained strong to start 2024. Despite fears of oversupply, rent growth remained stable and vacancy rates remained near historical lows.


Arbor Marketing Campaign Wins Two Awards at Industry Gala

For more than 30 years, Arbor has been committed to building strong bonds with clients that lead to mutual success. This philosophy is at the heart of a unique Arbor marketing campaign, The Art of Growing Financial Partnerships, which received two awards at the 30th Annual Financial Communications Society (FCS) Portfolio Awards Gala in New York City on May 2. The campaign, which was featured in two private jet terminals, used original stained-glass pieces to build brand awareness among high-net-worth travelers.


Top SFR Annual Rent Growth Markets

Even as rents retreated elsewhere, single-family rentals (SFR) have continued to outperform all other housing sub-types, exceeding the all-property type national average in 17 consecutive months through February 2024, according to Zillow’s Observed Rent Index (ZORI). Annual SFR rent growth has seen substantial gains in many metropolitan areas since national rent growth peaked in March 2022. In this deep dive, the Chandan Economics and Arbor Realty Trust research teams pinpoint the metropolitan areas where SFR rents are rising the fastest.

General: 800.ARBOR.10

Arbor Funds $17.2M in Agency Loans in Newark and Paterson, NJ

UNIONDALE, NY (February 11, 2020) – Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently funded 13 agency loans totaling $17.2M in Newark and Paterson, New Jersey.

The Newark Portfolio, comprised of six mixed-use and multifamily properties in Newark, NJ, received $11.3M in acquisition funding through the Freddie Mac SBL product. Terms included a five-year fixed rate followed by a 15-year adjustable term.

  • 10 Kent Street – This 18-unit multifamily property received $2M in funding. The three-story complex is in close proximity to New Jersey Institute of Technology.
  • 741 Clinton Ave. – This mixed-use property received $1.5M in financing. It includes 20 residential units and some commercial space.
  • 6 Longfellow Ave. – This mixed-use property received $1.4M in funding. It features 13 residential units and two commercial spaces.
  • 8 Monticello Ave. – This mixed-use property received $2M in financing. It is made up of 20 residential units and six commercial spaces.
  • 232 Shephard Ave. – This multifamily property received $2.5M in funding and includes 22 residential units.
  • 268 Stuyvesant Ave. – This multifamily property received $1.8M in financing. It features 30 residential units.

The Paterson Portfolio consists of seven multifamily properties in Paterson, NJ, which received $5.9M refinance cash-out funding through the Fannie Mae Small Loans program. Terms include a 10-year term on a 30-year amortization schedule.

  • 394 River Street – This six-unit walk-up style apartment complex received $617,000 in financing. It is made up of studio, one- and two-bedroom apartments.
  • 130 12th Ave. – This three-story property received $881,000 in funding. It features a one-bedroom apartment and five, two-bedroom residences.
  • 50-54 Clinton Street – This 12-unit multifamily property received $1.4M in financing. The walk-up style building includes studio, one- and two-bedroom apartments.
  • 470-472 10th Ave. – This three-story building received $767,000 in funding and is made up of two and three-bedroom apartments.
  • 71-73 N. Main Street – This six-unit, walk-up style property received $768,000 in financing. It includes two- and three-bedroom apartments.
  • 33-35 Hillman Street – This six-unit walk-up style property received $623,000 in funding. It features six, two-bedroom apartments.
  • 102-104 East Main Street – This six-unit multifamily property received $886,000 in financing and includes six, two-bedroom apartments.

Ari Short of Arbor’s New York City office originated the loans.

“New Jersey has been a very active market,” Short said. “Thanks to Arbor’s industry experience, and its longstanding relationships with Fannie Mae and Freddie Mac, we can offer the best possible terms and structure to our clients.”

About Us
Arbor Realty Trust, Inc. (NYSE:ABR) is a nationwide real estate investment trust and direct lender, providing loan origination and servicing for multifamily, single-family rental (SFR) portfolios, seniors housing, healthcare and other diverse commercial real estate assets. Headquartered in Uniondale, New York, Arbor manages a multibillion-dollar servicing portfolio, specializing in government-sponsored enterprise products. Arbor is a Fannie Mae DUS® lender and Freddie Mac Optigo Seller/Servicer. Arbor’s product platform also includes CMBS, bridge, mezzanine and preferred equity loans. Rated by Standard and Poor’s and Fitch Ratings, Arbor is committed to building on its reputation for service, quality and customized solutions with an unparalleled dedication to providing our clients excellence over the entire life of a loan.

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Newark Portfolio – Newark, NJ

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Paterson Portfolio – Paterson, NJ


Ari Short – Originations