Real Estate IndustryReviews

Multifamily developers

Apartment developers and builders, using NMHC’s 2026 Top 50 Developers and Top 25 Builders lists.

Last updated: 2026-10-20

We do not score developers or builders. We have not published a rubric for them, and they publish no quality or warranty data. Firms are listed alphabetically. NMHC ranks are NMHC’s.

NMHC 2026 Top 50 Developers (all 25 published)

NMHC counts multifamily rental units (five or more units) started in 2025 for the developer’s own account. The developer runs the project from planning and financing to delivery and usually picks the builder. Source: NMHC. An asterisk marks firms that were not NMHC members as of Jan 31, 2026. The rank is NMHC’s, not ours.

NMHC rankCompanyUnits started 20252024ChangeHQ
1Greystar7,1888,247-12.8%Charleston, SC
2JPI6,3722,164+194.5%Dallas, TX
3D.R. Horton6,0994,590+32.9%Arlington, TX
4Alliance Residential5,5013,839+43.3%Scottsdale, AZ
5Hillpointe5,4664,720+15.8%Winter Park, FL
6Mill Creek Residential5,2824,312+22.5%Boca Raton, FL
7Trammell Crow Residential5,0213,240+55.0%Dallas, TX
8The NRP Group4,5023,310+36.0%Cleveland, OH
9Wood Partners4,4145,480-19.5%Atlanta, GA
10Core Spaces4,2863,297+30.0%Chicago, IL
11Middleburg Communities4,1502,561+62.0%Vienna, VA
12The Garrett Companies3,8264,161-8.1%Greenwood, IN
13Northwood Ravin3,6243,468+4.5%CHARLOTTE, NC
14AvalonBay Communities, Inc.3,5083,301+6.3%Arlington, VA
15Thompson Thrift3,2452,659+22.0%Indianapolis, IN
16Harbor Group International, LLC2,913206+1314.1%Norfolk, VA
17Woodfield Development2,8371,797+57.9%Charleston, SC
18LDG Development2,6581,012+162.6%Louisville, KY
19Roers Companies2,4921,883+32.3%Plymouth, MN
20Willow Bridge Property Company2,4731,192+107.5%Dallas, TX
21Crescent Communities2,3082,388-3.4%Charlotte, NC
22OHT Partners2,127884+140.6%Austin, TX
23Continental Properties Company Inc2,0643,517-41.3%Milwaukee, WI
24Gilbane Development2,0152,409-16.4%Providence, RI
25Landmark Properties, Inc1,9951,891+5.5%Athens, GA

NMHC 2026 Top 25 Builders

NMHC’s builder list counts multifamily rental units (five or more units) whose construction the firm started in 2025. Source: NMHC. An asterisk marks firms that were not NMHC members as of Jan 31, 2026. The rank is NMHC’s, not ours.

NMHC rankCompanyUnits started 20252024ChangeHQ
1Summit Contracting Group, Inc.10,32310,289+0.3%Jacksonville, FL
2The NRP Group6,6854,824+38.6%Cleveland, OH
3Greystar6,4906,640-2.3%Charleston, SC
4OHT Partners6,2242,734+127.7%Austin, TX
5JPI6,1482,164+184.1%Dallas, TX
6Alliance Residential5,5013,839+43.3%Scottsdale, AZ
7Hillpointe5,4664,720+15.8%Winter Park, FL
8Mill Creek Residential5,2824,312+22.5%Boca Raton, FL
9Weis Builders, Inc.*5,0394,122+22.2%Minneapolis, MN
10ARCO Construction Companies*4,5463,350+35.7%St. Louis, MO
11Trammell Crow Residential4,5413,240+40.2%Dallas, TX
12Wood Partners4,4145,480-19.5%Atlanta, GA
13Middleburg Communities4,1502,561+62.0%Vienna, VA
14The Garrett Companies3,8264,161-8.1%Greenwood, IN
15Northwood Ravin3,6243,468+4.5%CHARLOTTE, NC
16LandSouth Construction3,3421,930+73.2%Jacksonville, FL
17Thompson Thrift3,2452,659+22.0%Indianapolis, IN
18C. Herman Construction3,1932,755+15.9%Charlotte, NC
19AvalonBay Communities, Inc.2,8002,786+0.5%Arlington, VA
20Harkins Builders2,7892,347+18.8%Columbia, MD
21VCC, LLC2,5173,117-19.2%Little Rock, AR
22Fortune-Johnson LLC2,4992,413+3.6%Peachtree Corners, GA
23Bozzuto2,4131,032+133.8%Greenbelt, MD
24Horizon Construction Group, Inc.2,3512,918-19.4%Madison, WI
25Roers Companies2,1911,598+37.1%Plymouth, MN

Profiled in this segment

National homebuilders · Multifamily developers

D.R. Horton

Unscored

Public. Says it is the largest U.S. homebuilder by homes closed.

84,863 homes at an average $370,400; also No. 3 on NMHC’s 2026 apartment developer list.

Profile and sources →
Commercial developers · Multifamily developers

Related Companies

Unscored

Private. Developer of Hudson Yards; large affordable housing owner.

NMHC counts 58,483 of its 80,720 owned units as subsidized, so most of its apartments are affordable housing.

Profile and sources →
Luxury builders · Multifamily developers

Toll Brothers

Unscored

Public. Luxury builder; City Living high-rise condos and Apartment Living rentals.

63% of fiscal 2025 deliveries had a base price of $750,000 or more; 5% were over $2 million.

Profile and sources →
Multifamily developers

Trammell Crow Residential

Unscored

Private. A different company from CBRE’s Trammell Crow Company.

No. 7 on NMHC’s 2026 developer list, up from No. 13; No. 11 builder; No. 43 owner.

Profile and sources →

Who each is actually for

Based on what the cited sources say, not on reviews. If we had no source, the cell is left out.

FirmFit signals from the sources
D.R. HortonEntry-level and first move-up buyers: homes generally $250,000 to over $1,000,000, average $370,400.
Buyers who want builder mortgage and title in one place (the 10-K describes both).
Related CompaniesCities and public agencies looking for a large mixed-use or affordable housing developer.
Renters in affordable housing: most of its NMHC-counted units are subsidized.
Toll BrothersMove-up, empty-nester and second-home buyers in the $750,000+ range.
Urban condo buyers (City Living, built with joint venture partners).
Trammell Crow ResidentialApartment investors and lenders looking for a large merchant-build developer.

Last verified 2026-10-20. Figures were re-read from the linked sources that day.

View changelog
  • Section published: hub, four sub-hubs, nine profiles and three comparisons, from 10-Ks, NMHC 2026 lists and firm pages read this day.

Sources

  1. NMHC, 2026 Top 50 Developers · accessed 2026-10-20
  2. NMHC, 2026 Top 25 Builders · accessed 2026-10-20
  3. D.R. Horton Form 10-K for fiscal 2025 (year ended Sep 30, 2025) · accessed 2026-10-20
  4. NMHC, 2026 Top 50 Owners · accessed 2026-10-20
  5. NMHC, 2026 Top 50 Managers · accessed 2026-10-20
  6. Related Companies, Our Company · accessed 2026-10-20
  7. Toll Brothers Form 10-K for fiscal 2025 (year ended Oct 31, 2025) · accessed 2026-10-20