Q2 2026 Virginia Multifamily Market Report

Virginia’s multifamily inventory grew in the second quarter of 2026. The multifamily market broke the declining trend of absorption levels compared to the prior year. At the same time, the vacancy rate increased. Deliveries of newly completed units rose, while construction activity declined slightly. Four out of nine metro areas across the Commonwealth saw a decline in effective rent compared to last year, with Charlottesville seeing the highest decline.

Read the full report.