Renting vs. Buying: Demographics, Affordability & the New Demand Cycle
April 21st, 2026
Key Takeaways
- Multifamily supply remains elevated as Sun Belt and Mountain West markets absorb heavy deliveries that continue to pressure asking rents and concessions.
Demand fundamentals remain resilient, driven by household formation, demographic aging, downsizing boomers, and millennials renting longer because of the historic rent versus buy spread. - Rent growth should normalize as supply is absorbed, with stabilization beginning in 2026 and broader improvement emerging across markets in 2027.
- Market performance is increasingly fragmented, with smaller Southern metros and the Midwest outperforming while high supply markets like Orlando, Phoenix, and Denver remain under pressure.
- Real time data is essential for navigating bifurcated market conditions, refining underwriting assumptions, and identifying opportunities in oversupplied or politically complex multifamily markets.
- Investors who prioritize fundamentals like renewal strength, realistic rent trajectories, and market specific risk are best positioned to capitalize on the current multifamily cycle.
In this episode of Wealth Unfiltered, Jeff Adler, Vice President of Yardi Matrix, joins us to break down the multifamily housing landscape and the data trends shaping investor strategy in today’s shifting market. He outlines the forces reshaping demand, the pressures created by elevated supply, and the structural dynamics influencing how investors position themselves in a rapidly evolving environment.
Jeff provides a data‑driven perspective on multifamily supply pipelines, migration patterns, demographic shifts, turnover trends, and the rent versus buy spread. He explains how elevated deliveries and shifting demand drivers are influencing market performance across regions and asset classes, giving investors a clearer view of where fundamentals remain strong and where headwinds persist.
He emphasizes the importance of understanding real time multifamily real estate data, including supply absorption, turnover behavior, renewal trends, political risk, and submarket performance. These insights are essential for interpreting the uneven path toward stabilization in 2026 and for identifying where the next investable opportunities may emerge as the cycle transitions.
Find Jeff here:
- LinkedIn: https://www.linkedin.com/in/jeffreywadler/
- Yardi Matrix Profile Page: https://www.yardimatrix.com/About-Us/Key-Management/Jeff-Adler
Learn More About Yardi Matrix Here:
Timestamps
- 00:03:32 — Multifamily Cycle State
- 00:07:16 — Defining Normal Rent Growth
- 00:09:57 — Rent vs. Buy Spread
- 00:13:40 — Top Performing Markets
- 00:23:42 — Transaction Volume Outlook
- 00:27:08 — Cap Rates by Metro
- 00:46:21 — AI’s Impact on Renters
- 00:48:57 — Best 2026 Opportunities
More Resources
Market Reports
A comprehensive overview of current multifamily real estate trends, including occupancy rates, rent growth, supply pipelines, and investment activity across key markets.
Wealth Unfiltered Podcast
Wealth Unfiltered delivers candid conversations and expert insights on multifamily real estate, covering market trends, investment strategies, and real-world deal experience.
Our Articles
Explore our latest multifamily real estate insights, from market trends and investment strategies to property management tips and industry updates to help you make smarter long term investments.