Market Intelligence: Q1 Midwest Region Update & 2025 Outlook
While the Midwest hasn't seen the same economic and population growth as other U.S. regions in recent years, its apartment market fundamentals have arguably been the strongest in the country. Driven by two key inputs — limited new supply and slow-but-steady demand — Midwest rent growth and occupancy generally align with historically “normal” levels as most other markets work through a 50-year peak in new supply delivery.
The question for the Midwest now is whether this period of historically normal performance eventually falls behind other regions with more robust economic growth or if slow-and-steady demand can indeed churn continued revenue growth. If the latter holds, might the Midwest see an increase in investor appetite through the back half of the 2020s decade?
Join RealPage® market experts as they review recent performance stats for the nation's Midwest region, from the Great Plains to the Great Lakes, including their quantitative and qualitative expectations for the 2025 calendar year.
Key topics of discussion will include:
- What principal regional themes characterize the Midwest's current apartment market and economic landscape?
- An overview of supply/demand fundamentals — what does 2025 hold in store for supply expectations, and how much demand will these local markets need to generate to maintain pace?
- How do rent growth, occupancy and resident retention (among other performance stats) in the Midwest states compare to those of the broader nation?
- What is the near-term (12- to 18-month) outlook for this region's metro areas?
States covered in this market update webcast include:
- Illinois
- Kansas
- Michigan
- Minnesota
- Missouri
- Indiana
- Nebraska
- North Dakota
- Ohio
- Oklahoma
- Iowa
- South Dakota
- Wisconsin
Arben Skivjani serves as a Deputy Chief Economist and Data Scientist for RealPage, Inc. His primary focus is on forecasting and econometric modeling, economic impact studies, reporting and analysis of macroeconomic trends that affect the multifamily industry. Prior to joining RealPage, Arben worked for several government and private sector entities, including the District of Columbia Department of Employment Services, Center for Business and Economic Development at the University of Alabama and Camoin Associates in Upstate New York.
Arben is heavily involved in the Dallas/Fort Worth Association for Business Economics where he currently serves as Vice President and is a member the National Association for Business Economics.
Arben holds a master’s degree in economics from The University of Alabama.
Meggan Taylor
Market Analyst, RealPage, Inc.Meggan Taylor is a Market Analyst for RealPage, Inc., where she applies her background in technology, business intelligence and data analytics to deliver in-depth research and analysis on multifamily performance and forecasts. Prior to joining RealPage, Meggan worked in market research and feasibility analysis for conventional multifamily and mixed-use developments.
Meggan received a bachelor’s degree in information systems from the University of Texas at Arlington, and master’s degrees in information technology and business administration from the University of Texas at Dallas.
