Source: USA Facts

Completions in Q1 2026 came in at one of the lowest levels in 7+ years and will likely hover around these levels for a while — ending the largest supply wave in a half-century.

Source: Jay Parsons

Americans aren’t just moving; they’re bringing billions in wealth with them. This map visualizes net wealth migration by state based on Realtor.com’s analysis of the latest data from the Internal Revenue Service.

The Spring 2026 Arbor Opportunity Matrix evaluates the nation’s 50 largest metropolitan areas to pinpoint the most attractive areas for multifamily investment right now. The factors include:

• Liquidity
• Supply Absorption
• Renter Demand
• Rental Affordability
• Labor Market Momentum
• Demographic Trends

Source: Arbor

The annual benchmark revisions from the Bureau of Labor Statistics (BLS) drastically changed the employment data for a number of markets around the country. Each April, the BLS utilizes data from the Quarterly Census of Employment and Wages to revise not seasonally adjusted employment levels for the past two years, which then affect the calculated annual change in employment or job gain numbers for the previous 12 months.

Asheville, NC finished just outside the top 10 at number 12 on the most recent list.

Source: RealPage

Lawsuit surge – Federal tort cases rose 20% between 2022–2024; premises liability claims jumped from 4,516 to 5,632 cases in the same period. The severity of general liability claims has risen 57% over the last decade.

Nuclear verdicts – Premises liability verdicts exceeding $10M rose 52% in 2024 vs. 2023. Mass shootings have doubled in 10 years, contributing to these outsized awards.

Premium explosion – Liability insurance rates rose 9% in Q4 2025 even as overall insurance rates fell 8%. General liability specifically rose 30%+ in some cases. One landlord cited umbrella/excess premiums quadrupling since 2020.

Plaintiff bar advertising – Morgan & Morgan spends $350M/year on ads, and the broader personal injury industry is aggressively marketing to potential claimants — including those with minor or fabricated injuries.

Carrier pullback – Insurers are adding exclusions (sexual abuse, firearms, animal attacks) and refusing to cover buildings with crime scores above 30, pushing more landlords into the surplus lines market at even higher cost.

Uneven playing field – Large portfolio owners have negotiating leverage; smaller landlords do not, leaving them more exposed.

“Landlords are taking on a lot more risk than they ever have, and they are not set up to do so.”

Source: BisNow

The population of the U.S. expanded by 0.5% from July 1, 2024 to July 1, 2025, according to the latest U.S. Census Bureau estimates. 10 of the nation’s metro areas posted population growth of 2.4% or more:

Looking at numeric growth, all but one South region metro area ranked among the nation’s top 10 for population increases:

Among the nation’s 10 largest metro areas, only two saw population declines:

10 of the nation’s metro areas saw population growth slow by more than 1.2%:

Source: RealPage