Middleburg Markets Report Q2 2022

Middleburg Communities is pleased to present our Middleburg Markets Report for the 2nd quarter of 2022. This report summarizes our current thinking about the rental housing market both nationally and in those markets that we most closely evaluate for development, acquisition, or other forms of investment.

With this report we are proud to introduce a contributing author, Middleburg’s new Director of Research. Mitch Bollinger, MBA, CFA, CAIA has earned a reputation within the real estate industry for providing deeply insightful research informed by his experience asan asset manager and real estate fund manager, including his role as Head of Research for Courtland Partners and its acquirer, StepStone Real Estate.

We at Middleburg believe that we derive an important advantage from our deep familiarity not only with the largest markets in the region but also with smaller secondary and tertiarymarkets that may offer particularly appealing opportunities to the most attentive and informed investors. As usual, in this report we summarize conditions and outlook not only for the 15 largest metro areas in our territory but also for a selection of the smaller markets that we keep continually in our range of vision.

Middleburg has always been proud of our consistently strong performance in all aspects of the rental housing industry, and of the data-driven approach that informs our decisions. We hope you will value this report as we value the analysis that it reflects.