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Sunbelt to Feel Multifamily Headwinds the Most

Rents and occupancies are expected to soften the most in the Sunbelt.

By Courtney Fingar | March 27, 2023 at 08:37 AM

Multifamily is facing negative headwinds this year and into the next in the form of outsized supply growth and weak demand drivers, according to PGIM Real Estate’s Quarterly Insights report.

Housing rent growth is compressing across market types. Occupancies in higher supply barrier markets are holding up well, while many Sunbelt markets are showing deterioration.

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