2021 is in the books and it will probably be summer in a blink or two, but as part of our look back at last year, the newest installment of the Top 5 series is a final look at apartment demand for what was a historic period. One indication of apartment demand is net absorption, the net change in the number of rented units for a period of time.
In this metric large markets obviously have an advantage. Another metric, one that considers net absorption as a percent of available units to be leased, can bring other areas to the forefront and is useful because one obvious potential constraint on demand is supply. With all this in mind, let’s get to the lists.
Top 5 Markets – Net Absorbed Units
|Market||Net Absorbed Units|
|Dallas - Fort Worth, TX||47,178
|Los Angeles - Orange County, CA||28,920|
|New York City, NY||28,876|
Top 5 Markets – Net Absorption as Percent of Available Units
|Market||Absorption as % of Available Units|
|State College - Altoona, PA||77%|
|Fort Myers - Naples, FL||72%|
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