New multifamily deliveries of just 300,000 units across the United States next year? That’s what RealPage is predicting.

RealPage, a provider of AI-enabled software platforms for the real estate industry, recently released its predictions for 2026’s multifamily market.

And one of the biggest? RealPage predicts that with a growing number of U.S. markets shifting from oversupply toward more balanced supply-and-demand conditions in the second half of the year, U.S. multifamily deliveries in 2026 could fall to as few as 300,000 new units.

That’s well below the level that the Multifamily Housing Council estimates is required to satisfy the demand for new U.S. apartments through 2035.

RealPage predicts, too, that while the number of new apartment deliveries will fall next year, the demand for these units won’t. That’s largely because mortgage interest rates continue to hold above 6%, making it more affordable to rent than buy a single-family home.

This makes it unlikely that a flood of renters will enter the single-family market in 2026, RealPage said.