The value of multifamily buildings in the United States had plummeted as a result of the 2008 global financial crisis but has since bounced back. In 2018, the value of U.S. multifamily buildings exceeded 70 billion U.S. dollars and is expected to reach nearly 80 billion U.S. dollars by 2022. The New York-Northern New Jersey-Long Island metropolitan area accumulated construction starts for multifamily and commercial properties totaling 16.14 billion U.S. dollars in 2018, more than any other major U.S. metropolitan area.
When it comes to investing in a multifamily property in the United States in 2019, some of the markets with the best buying prospects are Minneapolis/St. Paul, Salt Lake City, and Las Vegas, according to industry experts. Las Vegas experienced the highest year-on-year growth of multifamily rents as of January 2019, at nearly eight percent. In addition, about 40 percent of experts surveyed suggested holding onto multifamily properties in Oakland/East Bay rather than buying or selling them. Between the fourth quarter of 2018 and the third quarter of 2020, the average vacancy rate in multifamily housing in the United States is forecasted to fluctuate within the range of 5.7 percent and 6.4 percent.