The multifamily industry continues to be in the midst of new construction boom not seen in decades. Though ample attention is rightly given to which markets may appear at the top of new supply lists for any given period, it’s also helpful to take a narrower look at where the activity is most concentrated within markets. With that in mind, here are the top five submarkets nationally for new supply in the last 12 months as well as the top five submarkets nationally for new units currently under construction.
Top Five Submarkets – New Supply Delivered in the Last 12 Months
- Capitol Hill, Washington DC – 4,058 units
- Central Miami, Miami – 3,646 units
- Center City, Charlotte – 2,888 units
- Greater Downtown, Los Angeles – 2,769 units
- Five Points/CBD/Capitol Hill, Denver – 2,694 units
Top Five Submarkets – Units Under Construction
- North Brooklyn, NYC – 13,555 units
- Queens, NYC – 9,859 units
- Central Miami, Miami – 8,558 units
- Bronx, NYC – 8,046 units
- Hudson Waterfront, NYC – 5,935
For new construction and other information at the market level, ALN’s free Market Reviews are available on a monthly basis.
For questions regarding availability of submarket or other data, please contact firstname.lastname@example.org.
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