Omaha Multifamily Figures Q1 2026

Omaha multi-family vacancy is 8.0%, which is 30 basis points lower than last quarter and 210 basis points higher than one year ago.

Average asking rents are now $1,300 per unit in the metro area. Average asking rents are $12.00, or 0.9%, higher than last quarter, and are $27.00, or 2.1% higher than one year ago, and $107.00, or 9.0% higher than three years ago. By submarket, the highest average rent is $1,587 per unit in the Southwest submarket. By age, properties built between 2010 and 2025 represent the highest rent with an average rent of $1,499 per unit. Average asking rent is $1,323 per unit in the downtown area versus $1,297 per unit in suburban areas.

No new multi-family properties delivered to the Omaha market Q1 2026.

There are an additional 22 properties totaling 3,477 units under construction in the Omaha market. By submarket, the greatest number of units in the construction pipeline are located in the Downtown, and Central submarkets with 30.6% and 27.3% of the total number of units, respectively.