MARKET SNAPSHOT

Omaha q2 2026

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AVERAGE RENT

$1,275 Q2 2026

OCCUPANCY RATE

93.6% Q2 2026

NET ABSORPTION

2,057 T4Q

ANNUAL RENT CHANGE

0.4% Q2 2026

ANNUAL OCCUPANCY CHANGE

-105 BPS

UNIT COMPLETIONS

3,930 T4Q

KEY TAKEAWAYS

Absorption accelerated sharply in Q2, tripling from the prior quarter and marking the strongest quarterly performance in over a year, even as deliveries continue to outpace demand on a trailing basis.

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The construction pipeline is contracting rapidly, with starts down nearly half from a year ago, setting the stage for meaningfully reduced supply pressure through 2027.

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Rents have stabilized and occupancy ranks near the top of Omaha's Midwest and Plains peer group, a solid showing given the scale of the delivery wave the market has absorbed, suggesting Omaha is finding its footing as it moves past peak supply.

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MARKET OUTLOOK

Omaha's multifamily market is navigating the back half of an elevated supply cycle, with conditions pointing toward gradual improvement over the next two to four quarters...

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