Poll Results: Top 2024 Challenges for Multifamily

In our final poll of 2023, Multi-Housing News asked readers about the biggest challenges they expect to face in the new year.

Roughly one-third of respondents — 33 percent — stated that interest rates will be their biggest challenge going into the new year. This comes after a year in which continued interest rate hikes have had a major impact on financing, making debt more expensive and exerting pressure on the real estate market. At the start of last year, 74 percent of respondents listed the rate hikes as their chief obstacle. This year’s lower number could be attributed to the expectation of rate cuts later in the year, as well as large-scale price-ins by the majority of investors and lenders. Domestic and international political instability could add to these concerns.

READ ALSO: Top 12 Multifamily Predictions for 2024

Meanwhile, 28 percent of respondents named debt and capital costs as their primary challenge. 11 percent of respondents listed supply chain issues as their chief hurdle, a challenge which has been compounded by a shortage of manual laborers. Lastly, 6 percent said declining rent values was their biggest hurdle, while 22 percent of respondents said they have other challenges to face beyond those listed.

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