MARKET SNAPSHOT

NW Arkansas q1 2025

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AVERAGE RENT

$1,165 Q1 2025

OCCUPANCY RATE

94.3% Q1 2025

QUARTERLY NET ABSORPTION

439 Q1 2025

ANNUAL RENT CHANGE

2.7% Q1 2025

ANNUAL OCCUPANCY CHANGE

-40 BPS Q1 2025

QUARTERLY COMPLETIONS

444 Q1 2025

KEY TAKEAWAYS

Renter demand remains strong, with over 1,800 units absorbed in the past year, led by mid-priced units. In the latest quarter, net absorption was up 93% compared to a year ago and came close to matching new deliveries.

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Construction is slowing but still active, with 3,500 units underway, down considerably from the mid-2023 peak of around 4,500. Development is concentrated in Central Benton and Northeast Washington counties, especially Rogers, where inventory has grown over 80% in the past decade.

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Annual rent growth hit 2.7% in Q1 2025, above the national benchmark but well below the market’s 2022 peak. Steady, balanced growth is being led by the lower-tier segment.

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MARKET OUTLOOK

The future outlook for the Northwest Arkansas multifamily market is generally optimistic, supported by strong demographic growth, economic resilience, and a tapering development pipeline...

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