What the market claims versus what the numbers actually say. The full data page has methodology, sources, and the running archive. The three below are the headlines for Q4 2026.
Q4 2026 / Cap rates
Coastal capital migrating to Midwest multifamily.
Verifying that Sunbelt saturation and Midwest yield spreads are pushing institutional capital into secondary Midwest markets. Property-level cap rates compressed roughly 40 bps to 5.8% in Q4 2025 — the largest quarter-over-quarter compression of any region.
Sources: Arbor / Chandan Economics, Cornovus Capital, JP Morgan 2026 mid-year CRE report.
Q4 2026 / Debt
Multifamily bank rates and what moves them.
Verifying quoted-versus-executable rates across Freddie Mac SBL, Fannie Mae DUS, and community-bank multifamily lenders. Reported floors around 5.56% (Freddie/Fannie, June 2026); broader product range 5.24%–12.75% (August 2026). What moves them: Treasury index, agency spread tiers, FHFA cap changes ($88B/enterprise for 2026), DSCR/LTV thresholds.
Sources: FHFA, Freddie Mac, Fannie Mae, JPMorgan Chase, Select Commercial, CommercialLoanDirect.
Q4 2026 / CapEx
True deferred maintenance across Class C.
Verifying real per-unit deferred-maintenance load in older Class C multifamily. Industry proxies suggest $600–$800 per unit per year for older Class C (versus $250–$450 for stabilized product) — but nobody publishes true per-asset data. This is the gap. It's precisely why ForVue exists.
Sources: Re-Leased CapEx analysis, CLA Connect Interim CapEx, industry NSPIRE benchmarks.