Over 1.2 million new apartment units opened across the country between 2018 and 2022 — a record-high period for new supply growth. Some areas have seen a greater share of this growth than others by drawing in new residents, who drive demand for multifamily development.
Even specific neighborhoods can become a hotbed of renter interest for a variety of reasons, including a new attraction or workplace moving in nearby, vibrant culture or retail locales and access to public transit.
