The multifamily asset class has outperformed many sectors of the economy in the years following the “Great Recession.” Market fundamentals have been strong during this period, aided by increases in the renter population and decreases in the homeowner population. Consistent with improving market conditions and lower interest rates, property values have been increasing since 2009. Market observers may have concerns about whether current multifamily property valuation is ahead of market fundamentals and expectations. 

In this paper, we will review multifamily market conditions and present evidence that supports current industry market valuations. Read the paper.