The office-to-apartment conversion niche is growing on all fronts: Not only has the number of apartments converted from office buildings more than tripled since 2022, but the conversion pipeline grew by 28% in one year alone (from 2024 to 2025).
Plus, these conversions are increasingly targeting younger office buildings.
Our annual report tracks the pipeline of apartments converted from former office spaces, which has now reached an astounding 70,700 units.
Check out the hotspots of conversion and the key trends:
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The conversion pipeline has grown by 28% year-over-year in 2025, comprising 51,630 units carried over from the pipeline at the start of 2024 and 19,021 new conversions.
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New York has the biggest office-to-apartment conversions pipeline (8,310 units), followed by last year’s #1, Washington, D.C. (6,533 units); Los Angeles in third place (4,388 units); Chicago (3,606 units); and Dallas (2,752 units).
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In 16 of the top 20 metros, more than half of all adaptive reuse projects involve office-to-apartment conversions. Plus, four metros stand out with shares exceeding 70%: Phoenix (71%); Minneapolis (78%); Dallas (79%); and Omaha, NE (85% — marking the largest share nationwide).
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There’s an increasing focus on repurposing modern buildings: Newer office buildings constructed between the 1990s and 2010s now represent 1.27% of the completed conversions. However, their share is expected to grow significantly, with their share set to rise to 7%.
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Office conversions now represent 42% of all the 169,000 apartments emerging from future adaptive reuse projects — up from 38% in 2024. Nationwide, 14.8% of all office buildings are deemed suitable for conversion, according to CommercialEdge’s Conversion Feasibility Index.
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Explore our full report for detailed insights into the growing trend of office-to-apartment conversions and standout projects across the country: https://www.rentcafe.com/blog/rental-market/market-snapshots/adaptive-reuse-office-to-apartments-2025/
