The Rent Roll with Jay Parsons
EP#30 Lee Everett | Q2 '25 U.S. Apartment Market Update
Apr 17, 2025
Lee Everett, EVP and Head of Research for Cortland, joins to discuss the current U.S. apartment market dynamics. He highlights rising demand alongside declining supply, offering insights on rent growth for 2025 and 2026. The conversation touches on the resilience of the Sunbelt region compared to traditional markets, as well as demographic shifts influencing housing demand. Lee reflects on his career journey from college football to real estate, providing a unique perspective on market analysis and strategies for navigating upcoming economic uncertainties.
51:54
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Quick takeaways
- The U.S. apartment market is witnessing strong demand amid declining supply, with a historical absorption rate indicating tenant preference for rentals over ownership.
- Rent growth is slowly recovering and is expected to accelerate as supply diminishes, especially in key markets like San Antonio and Raleigh-Durham.
Deep dives
Current Apartment Market Outlook
The U.S. apartment market shows no signs of a slowdown, even amidst federal layoffs in Washington, D.C., which had raised concerns about potential impacts on demand. Recent data indicates that the peak in apartment supply is behind, with significant decreases expected in the upcoming quarters. Despite elevated levels of supply, the demand for apartments remains strong, with the first quarter of 2025 recording the highest absorption rates in decades. This indicates a sustained interest in rental properties, suggesting a resilient market that is adapting to changes effectively.
