GITNUXREPORT 2025

Multifamily Industry Statistics

Multifamily sector dominates housing market, attracting investments and growing steadily.

Jannik Lindner

Jannik Linder

Co-Founder of Gitnux, specialized in content and tech since 2016.

First published: April 29, 2025

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Key Statistics

Statistic 1

The U.S. multifamily housing sector accounted for over 40% of all apartment units in 2022

Statistic 2

The median age of rental housing units in the U.S. is around 36 years

Statistic 3

Approximately 23% of U.S. households live in multifamily housing

Statistic 4

Millennials now represent 48% of all multifamily renters

Statistic 5

As of 2023, the average national rent for a multifamily apartment was approximately $1,740 per month

Statistic 6

Approximately 43% of renters prioritize access to public transportation in their housing decisions

Statistic 7

The average size of a new multifamily unit was around 950 square feet in 2022

Statistic 8

The multifamily industry attracted over $100 billion in investments in 2022

Statistic 9

The average cap rate for multifamily properties in the U.S. was approximately 5.3% in 2023

Statistic 10

The occupancy rate for U.S. multifamily properties stood at approximately 95% in 2023

Statistic 11

During 2022, new multifamily housing starts in the U.S. reached around 430,000 units

Statistic 12

The fastest-growing segment within the multifamily industry is affordable housing, with a growth rate of over 8% annually

Statistic 13

60% of multifamily landlords report that rent increases in 2023 have been above inflation

Statistic 14

Urban multifamily property prices increased by approximately 12% in 2022

Statistic 15

The multifamily sector is expected to grow by 5% annually through 2025

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Key Highlights

  • The U.S. multifamily housing sector accounted for over 40% of all apartment units in 2022
  • As of 2023, the average national rent for a multifamily apartment was approximately $1,740 per month
  • The multifamily industry attracted over $100 billion in investments in 2022
  • The occupancy rate for U.S. multifamily properties stood at approximately 95% in 2023
  • During 2022, new multifamily housing starts in the U.S. reached around 430,000 units
  • The median age of rental housing units in the U.S. is around 36 years
  • Approximately 23% of U.S. households live in multifamily housing
  • The fastest-growing segment within the multifamily industry is affordable housing, with a growth rate of over 8% annually
  • 60% of multifamily landlords report that rent increases in 2023 have been above inflation
  • Urban multifamily property prices increased by approximately 12% in 2022
  • The average cap rate for multifamily properties in the U.S. was approximately 5.3% in 2023
  • Millennials now represent 48% of all multifamily renters
  • The multifamily sector is expected to grow by 5% annually through 2025

The multifamily housing industry is booming, commanding over 40% of all U.S. apartment units in 2022 and attracting more than $100 billion in investments in 2022 alone, highlighting its pivotal role in the nation’s housing landscape.

Demographics and Rental Market Composition

  • The U.S. multifamily housing sector accounted for over 40% of all apartment units in 2022
  • The median age of rental housing units in the U.S. is around 36 years
  • Approximately 23% of U.S. households live in multifamily housing
  • Millennials now represent 48% of all multifamily renters

Demographics and Rental Market Composition Interpretation

With nearly half of all renters being Millennials and multifamily units aging gracefully at a median of 36 years, the U.S. multifamily sector isn't just a housing choice—it's a reflection of demographic shifts, long-term stability, and the enduring appeal of community living.

Housing Characteristics and Preferences

  • As of 2023, the average national rent for a multifamily apartment was approximately $1,740 per month
  • Approximately 43% of renters prioritize access to public transportation in their housing decisions
  • The average size of a new multifamily unit was around 950 square feet in 2022

Housing Characteristics and Preferences Interpretation

With the median rent hitting $1,740 and nearly half of renters valuing transit access, today's multifamily developments are balancing money, mobility, and space—showing that comfort and convenience are now inseparable in the quest for the ideal apartment.

Investment and Capital Flows

  • The multifamily industry attracted over $100 billion in investments in 2022
  • The average cap rate for multifamily properties in the U.S. was approximately 5.3% in 2023

Investment and Capital Flows Interpretation

With over $100 billion invested in 2022 and a 5.3% cap rate in 2023, the multifamily industry proves to be both a lucrative and resilient corner of the real estate market—offering investors a perch that balances fruitfulness with a touch of security.

Market Trends and Growth

  • The occupancy rate for U.S. multifamily properties stood at approximately 95% in 2023
  • During 2022, new multifamily housing starts in the U.S. reached around 430,000 units
  • The fastest-growing segment within the multifamily industry is affordable housing, with a growth rate of over 8% annually
  • 60% of multifamily landlords report that rent increases in 2023 have been above inflation
  • Urban multifamily property prices increased by approximately 12% in 2022
  • The multifamily sector is expected to grow by 5% annually through 2025

Market Trends and Growth Interpretation

With occupancy hitting 95% and affordable housing booming at over 8% annually, the multifamily sector teeters on a delicate balance of soaring urban prices, rent hikes outpacing inflation, and a steady 5% growth projection—proof that in real estate, demand remains a relentless landlord’s ally.