Monthly Market Report (May 20, 2026)
tightening up the report and staying informed. Wanted to share with everyone here! The New England multifamily market remains structurally tight across all six surveyed geographies. Vacancy rates are hovering near historic lows, ranging from a functionally zero rate on Cape Cod to roughly 1.7% in Worcester, MA. While new development pipelines are robust in secondary cities like Worcester and Lewiston, supply continues to lag behind intense demand, keeping rent growth positive or stable in most unit types. A wave of legislative zoning changes across NH, MA, and ME — designed to stimulate missing-middle and transit-oriented development — is actively reshaping the entitlement landscape. Investors positioned to navigate local zoning reform will find meaningful value add and development opportunities across this corridor.