MARKET SNAPSHOT
Effective rents are forecast to increase 1.6% in 2026, posting another year of gains and extending the market’s recent rent momentum.
Net absorption is projected to decline by 24% in 2026, while deliveries fall by 67%. With absorption remaining higher than deliveries, the 2026 balance is more favorable than the prior year.
Stabilized occupancy is projected to be 94.7% in 2026, flat on an annual basis. Submarket movement is similarly contained, with occupancy changes limited to plus or minus 10 bps, reflecting a consistent outlook across the market rather than a shift driven by any single area.
Springfield’s 2026 outlook is defined by a steady demand base paired with a sharply improving supply setup...
