Fastest Growing Multi-Family Property Investments in New York
Multi-family housing continues to play a significant role in shaping New York’s urban landscape, with New York City standing out as a national leader in apartment development and investment. In 2024, Manhattan, Queens and Brooklyn all saw increases in multifamily transaction volume and investment, bucking national trends of slowing construction in other markets.
Other New York cities are also making major strides in the multi-family sector:
- New York City's multifamily market is experiencing strong demand, with average rents rising and vacancies remaining exceptionally low (around 2.8%). Manhattan’s occupancy rate in stabilized assets reached 98.2% in late 2024, well above the national average.
- Despite a national slowdown in new multifamily construction starts, New York City’s pipeline remains steady, with nearly 12,000 units under construction and another 35,000 in planning or permitting stages as of late 2024.
- Investment activity in NYC’s multifamily sector surged, with dollar volume rising 14% year-over-year to $8.91 billion in 2024 and transaction counts increased as well.
Suburban areas around New York are also seeing increased interest in single-family rentals and build-to-rent communities, reflecting shifting preferences for space and amenities. Investors and property managers in New York’s top metros trust US Mail Supply’s mailbox solutions to match today’s tenant expectations and USPS standards.
