According to a recent report, over 500,000 apartment units are expected to be completed in the U.S. in 2024, marking the first time this threshold will be reached. This reflects a significant shift in housing trends as more Americans turn to renting amid high home prices and rising interest rates. The projected completion of over two million new units by 2028 suggests a long-term increase in rental options and housing supply in response to changing demographics.
Various metro areas are seeing substantial increases in new apartment construction. New York is projected to lead this trend with 150,327 new apartments expected from 2024 to 2028, indicating a booming rental market. Dallas follows with 108,178 units anticipated. Smaller metros also show remarkable growth; for example, Youngstown, Ohio, is set to up its new units from only 191 to 6,449 in the same time frame, demonstrating diverse demand across regions.
Collection
[
|
...
]