Virginia’s multifamily deliveries drop to 9,539 units in 2025, down from 14,569 in 2024.
Total statewide inventory reached 705,516 units in Q2, ↑ 2.5% yearly.
Construction costs ↑ 30% since the pandemic, slowing new development.
Average rent statewide is $1,930, reflecting ↑ 2.4% yearly increase.
Vacancy rate remains 6.1%, slightly down from 6.2% last year.
