U.S. Apartment Construction to Hit All-Time High in 2024 - CRE Daily

Aug 12, 2024 · A record year: According to RentCafe, 2024 marks a historic milestone for apartment construction in the U.S. as the number of completions surpasses 500,000 units for …

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Record New Apartments Coming In 2024, But Slowdown Looms

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Aug 9, 2024 · The U.S. is on track to add over 500K new apartments in 2024, 9% more than 2023 and 30% more than 2022. New York, Dallas, and Austin are top markets for new apartment …

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Apartment Construction Surges Nationwide - Boston Agent Magazine

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Aug 15, 2024 · U.S. apartment construction is expected to hit a historic high of more than 500,000 new units this year, a new study from RentCafe found. The influx represents a 9% increase …

bostonagentmagazine.com

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Multifamily Industry Closes Year With 1% Rent Growth Nationwide

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Jan 8, 2025 · The vacancy rate for luxury apartments stayed in double digits, ending 2024 at 11.4 percent. These properties, known as four- and five-star properties in the CoStar building rating …

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How Rising Apartment Returns Impact New Housing Supply - CRE …

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Sep 26, 2024 · These higher borrowing costs have eroded investor returns, slowing new construction. Additionally, apartment operating costs surged 10.3% in 2022 and another 7.1% …

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FAQs about U.S. Apartment Construction to Hit All-Time High in 2024 - CRE Daily Coupon?

How many new apartments are being built in 2024?

The U.S. is poised to reach new heights in new apartment construction for the third year in a row, with 2024 expected to set a new record: By the end of the year, developers are on track to complete a staggering 518,108 rental units, marking a 9% increase compared to 2023 and a staggering 30% rise from 2022. ...

Will new apartment construction hit a 50-year record?

New apartment construction in the U.S. is on track to hit a 50-year record high, economists report, with apartment completions likely to approach 600,000 units by the start of 2025. ...

How many apartments will developers deliver in 2026 & 2027?

“All said, this massive drawdown in starts across all regions sets the stage for a very different industry trajectory come 2026 and 2027.” Specifically, following the record-high 518,108 apartments completed this year, developers are expected to deliver 440,478 new units in 2025, which will be a 15% decline in deliveries compared to 2024 levels. ...

Which city will build the most new apartments in 2028?

Meanwhile, Dallas — the top builder from 2019 to 2023 with 128,418 new apartments — is projected to fall to second place through 2028, with an anticipated 108,178 units, which is about 28% below New York's expected apartments. ...

How many apartments will New York build by 2028?

Even so, the New York metro area is set to build a staggering 150,327 new apartments by 2028. By comparison, developers completed 116,207 apartments in the metro area in the five years leading up to 2024, putting New York second in apartment completions during that period. ...

What are the top 10 Metros for new apartment construction?

Rounding out the top 10 metros for new apartment construction anticipated in the next five years are Los Angeles with almost 65,000 units; Phoenix with 60,833 units; Washington, D.C., with just more than 58,000 units; Atlanta with 57,104 units; Houston with 55,785 units; and Charlotte with 54,647 units. ...