NAA Five, for the Week Ending October 24th, 2025

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NAAHQ // oct. 24, 2025
NAA
 
NAA FIVE
A weekly digest of key rental housing news and takeaways
prepared exclusively for NAA’s leadership
 

The Big Picture: The government shutdown continues into its fourth week. Rent prices are easing nationally, but with regional and metro variation. A state report finds that housing high costs in Maryland are causing residents to leave for other states. 

This week’s top stories
What We're Advocating

Government Shutdown: The government shutdown is entering its fourth week, and NAA is monitoring several continuous impacts. NAA has compiled industry resources such as sample communications for property managers and affected residents. View the resources and learn more. 

What We're Saying

Mortgage Insurance Premiums: HUD has reduced mortgage insurance premiums by 25 basis points. This decrease applies to new multifamily loan originations and multifamily refinancing programs through the Federal Housing Administration (FHA). Learn more on what this means for boosting rental housing development. 

Housing Policy: The latest episode of the NAA Apartmentcast features a conversation with Housing Policy & Regulatory Affairs AVP Nicole Upano, diving into public policy, advocacy, government shutdowns and some inside baseball on what's happening in Washington. Listen to the episode here.    

 

What We're Doing

Rent Control Outlook: As the end of the year is quickly approaching, NAA has gathered recent developments and where to watch in 2026 – including more than 130 rent control bills. Read more on NAA’s outlook. 

HOME Landlord-Tenant Requirements: Given the uncertainty of the government shutdown, HUD has announced a further delay in new federally-mandated landlord-tenant requirements for the HOME Investment Partnerships Program. Read more on the delay and NAA’s advocacy

What We're Hearing

Government Shutdown: “A government shutdown doesn’t stop the housing market but it can definitely slow things down. From delaying closings to shaking buyer confidence, even a short shutdown causes ripple effects that can reach your front door.” (Realtor.com

Housing Costs: "A new economic report from the Comptroller’s Office says Maryland has seen a significant loss of residents to other states for more than a decade – no surprise to developers and housing advocates, but still a fact that has looming implications for the state.” (Maryland Matters