Market Intelligence: Upper Midwest and Great Plains Q3 Update
Low volatility has largely defined apartment market performance across Upper Midwest and Great Plains metros in recent years, with modest—but stable—demand matched by similarly restrained construction activity. However, sluggish job growth introduces an added layer of demand uncertainty across many markets, while seasonal patterns may play an outsized role in shaping near-term performance expectations throughout the nation’s breadbasket states.
If job growth remains soft into late 2026, what factors will underpin demand, and how might that carry into the 2027 outlook? Will expected supply in the year ahead diverge from the subdued trends seen in recent cycles? And which key economic indicators are most critical for tracking the trajectory of apartment markets across the Upper Midwest and Great Plains?
This webcast will provide a comprehensive assessment of supply, demand, and performance trends across the Upper Midwest & Great Plains region's major apartment markets, with the following markets featured:
- Chicago-Naperville-Elgin/Kenosha, IL-IN-WI
- Des Moines-West Des Moines, IA
- Kansas City, MO-KS
- Madison, WI
- Milwaukee-Waukesha/Racine, WI
- Minneapolis-St. Paul-Bloomington, MN-WI
- Omaha, NE-IA
- St. Louis, MO-IL
The webcast will be followed in the coming days by a shortened webcast focused on the region's secondary & tertiary markets, including the following areas:
- Champaign-Urbana, IL
- Davenport-Moline-Rock Island, IA-IL
- Springfield, MO
- Fargo, ND-MN
- Lawrence, KS
- Lincoln, NE
- Sioux Falls, SD-MN
- Wichita, KS
Carl Whitaker is RealPage’s Chief Economist, leading the company's team of economists and market analysts. Carl and the Market Intelligence team specialize in analyzing and disseminating economic and market trends for the rental housing industry. He primarily focuses on presenting trends in the rental housing industry to a wide audience, including investors, asset managers, operations professionals and media, among other personas. Carl has been cited in the Wall Street Journal, Bloomberg and GlobeSt and is a frequent keynote speaker for industry events. Carl holds degrees from the University of North Texas, including a Master of Science in Applied Geography.
Dustin Weaver
Market Analyst, RealPage, Inc.Dustin Weaver is a Market Analyst with RealPage's Data Analytics division, where he focuses on conventional apartment market analysis, research and data methodology. Dustin leverages his background in partnering with institutional investors and REITs to enable easier consumption and application of multifamily data and analysis.
