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It’s another record year for the conversion of office buildings into residential apartments in the United States, according to a recent RentCafe report.
At the beginning of 2026, 90,300 apartments were in the process of conversion across the country—a 28 percent increase from 70,600 in 2025, according to the March 24 report.
At 47 percent, office conversions now make up almost half of all adaptive reuse projects nationwide, with the New York metro area leading the way with 16,358 conversions in the pipeline. Washington placed second, with 8,479 conversions, and Chicago came in third, with 4,360.
“The imbalance in the office sector didn’t emerge overnight,” Yardi research director Peter Kolaczynski said in the report. “COVID-19 is to the office market what eCommerce was to retail. As a result, there is simply too much office space in the market right now.”…
At the beginning of 2026, 90,300 apartments were in the process of conversion across the country—a 28 percent increase from 70,600 in 2025, according to the March 24 report.
At 47 percent, office conversions now make up almost half of all adaptive reuse projects nationwide, with the New York metro area leading the way with 16,358 conversions in the pipeline. Washington placed second, with 8,479 conversions, and Chicago came in third, with 4,360.
“The imbalance in the office sector didn’t emerge overnight,” Yardi research director Peter Kolaczynski said in the report. “COVID-19 is to the office market what eCommerce was to retail. As a result, there is simply too much office space in the market right now.”…
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