With fall right around the corner, it’s a popular time to start planning next year’s marketing budget. As you build your budget, check out these tips to help lay the groundwork for leasing success in 2027.
1. Know what market conditions will look like
To build an effective marketing budget, it’s important to understand the market conditions expected for the year ahead.
According to CoStar projections, 2027 will remain challenging for multifamily operators, though pressures are expected to ease gradually over the course of the year.
Supply additions are projected to decline annually by 24%, according to the latest CoStar outlook, but vacancy is expected to remain elevated, rising to 8.8% early in the year before easing to 8.4% by the fourth quarter. Rent growth is on track to gradually accelerate to 1.5% by the end of the year.
Markets that have borne the brunt of the supply wave, particularly in the Sun Belt and Mountain regions, are likely to experience a slower recovery, while markets in the Midwest, Pacific, and Northeast are expected to outperform the national average.
With vacancy expected to remain elevated throughout 2027, operators will continue competing for renters, making it important to focus budgets on investments that deliver measurable results.
2. Keep an eye on how your competitors are advertising
As you plan your budget, stay on top of what your peers are doing. A recent survey by Apartments.com reveals key trends in how multifamily owners and operators are advertising.
The 2026 survey of 700 multifamily marketing decision-makers revealed their top priorities: generating high-quality leads and achieving strong lead-to-lease conversion. About two-thirds of respondents ranked these outcomes among their most important goals when evaluating an advertising source.
Most respondents reported stable or growing marketing budgets, with 44% increasing spending, 48% holding budgets steady, and 8% reducing budgets year over year.
Listing sites emerged as the most widely used marketing tool, with 80% of respondents reporting their use. Email ranked second at 53%, while all other tactics, including display advertising, search engine marketing, and generative AI tools, were used by fewer than half of respondents.
3. Understand renters’ expectations
As you build next year's budget, consider which marketing tactics are most effective for the renters you want to reach. Gather feedback from prospective and current residents through surveys, online reviews, and conversations with leasing teams.
Nationwide, rental search websites and apps remain the most widely used search tool, with 85% of renters reporting they use or plan to use them, according to a recent Apartments.com survey of nearly 27,000 renters across the U.S. Renters’ use of rental search sites has increased 37% since 2023.
The next most popular tool, property websites ranked a distant second. They were selected by about one-third of respondents.
Renters also expect to see detailed property and unit information. Three-quarters want to see unit-specific photos, and many look for unit-specific floor plans, descriptions, and 3D tours before making a decision.
Price remains the most important factor for renters, and 81% prefer to see the full cost upfront, while 52% consider surprise fees a dealbreaker.
4. Plan for the future of search
As you plan next year's budget, consider whether your marketing tools align with the ways renters are searching today.
While AI use remains limited, renters are open to it. Forty-one percent say they would trust rental recommendations from an AI-powered chatbot like ChatGPT or Apartments.com Ai. As renter search behavior evolves, it's worth evaluating whether your advertising strategy provides visibility across both established and emerging search channels.
To make the most of your budget, focus on the tactics and practices most likely to help reach qualified renters.
5. Rely on support from your partners in the multifamily industry
Whether you're reviewing property performance, monitoring local market conditions, or refining your marketing strategy, reliable data and best practices from partners like your Apartments.com representative can help inform your budget and leasing decisions.
