New Haven Multifamily Market Report

Elevated completions follow drop in vacancy. New Haven County’s multifamily sector entered 2025 with a low 30-month vacancy rate of 3.0 percent, positioning the market to weather potential headwinds. The first of these came in the opening quarter when employment modestly contracted. This correlated with softer apartment net absorption amid elevated deliveries, pushing vacancy up 70 basis points. Another headwind may be developing with the Trump administration’s interest in adding a social media vetting process to the student visa application process. New student visa interviews were paused in late May. This could impact enrollment at Yale University, where 28 percent of students are international. Despite this short-term uncertainty, the institution is gearing up for growth, planning for larger enrollments and new facilities. Growth at the university fortifies the long-term need for rentals in the community.