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Market Report

Fairfield County Multifamily Market Report

2Q 2023

Growing Class of Hybrid Workers Counterbalances
Softer Local Employment Market

Fairfield County apartments benefit from diversified demand. Stamford and Norwalk host the county’s highest concentration of employers, forming a solid backbone of housing demand. Proximity to New York City is an undoubted factor in this concentration, offering office space adjacent to the East Coast hub at a fraction of the cost. This accessibility also supports bedroom communities in the submarket. While job creation in Fairfield County will be stagnant this year, hiring in New York may bring more hybrid workers to the area. Over time, some of these employees could transfer to local offices or employers. These dynamics will help stabilize multifamily operations in the short-term, while also building a foundation for longer-run residential growth. 
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