Top 10: Market Net Absorption
Apartment demand has been unusually volatile month-over-month to begin the year. Even so, national net absorption through April was significantly higher than that from 2024. This year is the third consecutive year of improved multifamily demand for this portion of the calendar.
In order to provide a clear picture of market leaders in net absorption so far this year, two rankings have been compiled. The first is simply the top ten markets by net absorbed units. These markets have been at the forefront of demand in 2025.
The second ranking considers net absorbed units as a share of conventional stock. This market size-adjusted metric allows for some smaller areas with robust demand relative to their size to shine.
All numbers refer to conventional properties of at least fifty units. For more market-specific data, sign up here to receive our complimentary Market Review reports.
Top 10 Markets
|
Market |
Net Absorbed Units |
Percent of Stock |
|
NY – New York City |
23,421 |
3.4% |
|
AZ – Phoenix |
6,607 |
1.7% |
|
TX – Houston |
6,296 |
0.9% |
|
FL – Tampa |
5,411 |
1.9% |
|
FL – Miami – Fort Lauderdale |
5,011 |
2.1% |
|
TX – Dallas Fort Worth |
4,836 |
0.6% |
|
MN – Minneapolis – St. Paul |
4,799 |
1.9% |
|
PA – Philadelphia |
4,643 |
1.2% |
|
GA – Atlanta |
3,477 |
0.7% |
|
FL – Jacksonville |
3,272 |
2.8% |
Join Jordan Brooks on May 28, 2025 at 10:00 AM Central for an exclusive webinar exploring key national trends.
Top 10 Markets – Net Absorption as Share of Stock
|
Market |
Net Absorbed Units |
Percent of Stock |
|
SD – Rapid City |
812 |
11.5% |
|
SC – Myrtle Beach |
991 |
5.7% |
|
TX – Wichita Falls |
629 |
5.0% |
|
ME – Augusta – Portland |
386 |
4.1% |
|
SC – Greenville-Spartanburg |
2,771 |
4.0% |
|
MO – Springfield |
1,011 |
4.0% |
|
WA – Spokane |
1,372 |
3.8% |
|
IA – Des Moines |
1,807 |
3.6% |
|
NY – New York City |
23,421 |
3.4% |
|
KY – Louisville |
2,593 |
3.2% |
Disclaimer: All content and information within this article is for informational purposes only. ALN Apartment Data makes no representation as to the accuracy or completeness of any information in this or any other article posted on this site or found by following any link on this site. The owner will not be held liable for any losses, injuries, or damages from the display or use of this information. All content and information in this article may be shared provided a link to the article or website is included in the shared content.
ALN Apartment Data delivers industry-leading multifamily market intelligence, empowering thousands of apartment industry professionals with accurate, research-driven insights.
Owners and Management Companies leverage ALN OnLine for property search, rental market analysis, and competitor benchmarking—ensuring data-driven decision-making. Discover more about ALN OnLine here
Multifamily Suppliers & Service Providers trust Vendor Edge Pro to identify property management companies, target apartment communities, and optimize B2B sales strategies with our curated data and must-have features like sales routing. Get started with Vendor Edge Pro today
Enterprise-Level Multifamily Suppliers scale their business with Compass, the ultimate tool for nationwide property and management company insights, targeted prospecting, and market expansion strategies. Explore Compass now
Not sure how we can help you? Learn more about all of our services for Multifamily Professionals