In the second half of 2020 and the first half of 2021, roughly 363,000 rentals were delivered. Marcus & Millichap says this was the largest completion volume over a four-quarter stretch in at least two decades.
The deliveries weren't uniform throughout the nation. In fact, almost one-third of US deliveries were in seven metros, each of which gained more than 10,000 units.
Two metros exceeded the 20,000-unit threshold. Dallas-Fort Worth led the way, adding 27,700 apartments. Houston was next with 20,200 new apartments. Another Texas market, Austin, also added more than 10,000 units. Other Sunbelt markets, including Atlanta, Phoenix and Charlotte, also added markets at a fast clip.
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
