Trends
The 2026 Multifamily Housing Crisis: Why Landlords Are Struggling to Fill Units in the Sun Belt and Midwest
Last updated: February 25, 2026 Key Takeaways * Record vacancy rates reached 7.3% nationally in January 2026, the highest level since at least 2017, as massive supply collides with weakening demand[4][3] * Rent growth turned negative at -1.4% year-over-year, with effective rents down 0.8% during 2025 despite