Top 10: Market Net Absorption
Apartment demand has surprised to the upside this year, and this has allowed average occupancy to begin its recovery a bit ahead of schedule. While many of the usual suspects appear at the top of the rankings for market-level absorption, there are a couple of areas less accustomed to being there.
In order to provide a clear picture of market leaders in net absorption over the last twelve months, 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 during the last year.
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 |
55,107 |
8.2% |
|
GA – Atlanta |
39,500 |
7.4% |
|
TX – Dallas – Ft. Worth |
27,881 |
3.1% |
|
AZ – Phoenix |
24,074 |
6.0% |
|
NC – Charlotte |
20,059 |
8.3% |
|
DC – Washington |
19,495 |
3.6% |
|
TX – Austin |
18,780 |
6.5% |
|
MN – Minneapolis – St. Paul |
16,265 |
6.3% |
|
NC – Raleigh – Durham |
15,317 |
8.0% |
|
PA – Philadelphia |
15,114 |
4.6% |
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Top 10 Markets – Net Absorption as Share of Stock
|
Market |
Net Absorbed Units |
Percent of Stock |
|
SD – Rapid City |
1,270 |
17.9% |
|
MT – State of Montana |
2,499 |
16.0% |
|
SC – Myrtle Beach |
2,473 |
13.9% |
|
NC – Wilmington |
5,888 |
13.3% |
|
FL – Fort Myers – Naples |
6,613 |
13.0% |
|
HI – State of Hawaii |
1,278 |
12.6% |
|
NH – Concord |
810 |
12.5% |
|
TN – Chattanooga |
3,127 |
10.2% |
|
ND – Fargo |
2,843 |
9.8% |
|
GA – Savannah |
5,248 |
9.7% |
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