Arbor’s Small Multifamily Investment Trends Report Q3 2025, developed in partnership with Chandan Economics, examines the factors behind the continued upward trajectory of the sector amid an ongoing capital markets recalibration. Several of its core performance metrics, including valuations, originations, and credit standards, have shown measurable improvement as a multifamily market-wide normalization takes shape. Supported by strong fundamentals, small multifamily stands tall despite economic uncertainty.

With interest rate pressure easing, quality multifamily investment opportunities have emerged from coast to coast, making identifying the optimal location essential. A roadmap for investors, Top Markets for Multifamily Investment Report 2024, developed in partnership with Chandan Economics, ranks the top 50 metropolitan markets found through an analysis of 10 key factors, including affordability, population growth, and climate risk.
Key Findings:
- Nashville is 2024’s top metropolitan market for multifamily investment due to its solid performance fundamentals, robust population growth, and rapidly growing technology, healthcare, and tourism sectors.
- Affordable Midwestern markets performed strongly in this year’s rankings, while many of the nation’s largest cities finished lower.
- Austin and Phoenix finished second and third, respectively — underscoring that structural strengths can outweigh short-term housing supply imbalances.