Omaha’s multifamily demand remains elevated, with trailing 12-month net absorption reaching 2,400 units—well above the 10-year average of 1,900 units. Upper-tier properties led the way, accounting for 1,400 units of absorption, followed by 990 units in the mid-tier segment.
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Multifamily development remains strong in Omaha, with 2,300 units delivered over the past year and an additional 5,100 units—equating to 6.1% of total inventory—currently under construction.
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Despite a modest contraction from Q1, rent growth in Omaha remains strong, with a 3.3% year-over-year increase in Q2 2025—surpassing both the pre-pandemic historical average of 2.4% and the national average of 0.9%. This performance would place Omaha among the top three markets nationwide if included in the top 50 by inventory.
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MARKET OUTLOOK
The outlook for Omaha’s multifamily market remains highly favorable, underpinned by strong market fundamentals and steady population growth...
