Cosign Enters Omaha Market as Apartment Vacancies Hit 9.1 Percent

The influx of 3,615 new apartment units over the past year has outpaced local demand, forcing landlords to rely on concessions to keep buildings occupied. While asking rents grew by 1.2 percent, effective rents—what tenants actually pay after incentives—rose by only 0.6 percent. Even with the construction pipeline cooling to 2,905 units currently in progress, analysts expect vacancy levels to climb toward 9.8 percent by the close of 2026.

To combat the trend, some local operators are shifting their screening processes. Momentum Communities has integrated the Cosign platform to bypass traditional barriers that often disqualify renters who can afford monthly payments but fail to meet rigid credit criteria. By evaluating actual payment behavior rather than just credit scores, the service acts as a third-party guarantor. CEO Zach Schofel noted that the goal is to help owners say yes to qualified applicants who might otherwise be rejected over technicalities, effectively reducing vacancy without lowering rental standards.