1. How has the pandemic impacted the multifamily market in the Mid-Atlantic region?

Like much of the nation, the Mid-Atlantic region locked down at the onset of the COVID-19 pandemic. With limited visibility to determine valuations, multifamily owners exercised investment restraint and focused their energies on current operations. Transactions also slowed because the bid-ask spread between potential buyers and sellers remained wide. Volume in several submarkets was further slowed by general uncertainty about the pandemic’s impact on renters’ employment status and the potential for continued government stimulus and rent regulation.

Overall, the region’s monthly collections exceeded expectations while remaining relatively steady compared to the same period last year. As operators began assisting residents with payment plan options, investors closely monitored collections and occupancy as key indicators of resilience in the multifamily asset class. The Mid-Atlantic’s durable and risk-averse employment bases, anchored by the life sciences, medical, education and technology sectors in and around the Baltimore/Washington corridor, provided the necessary support to the regional economy. Moreover, government employment bolstered the region’s overall stability.

2. Which metros in the region are best equipped to overcome the pandemic-induced economic hardships?

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