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US Apartment Completions at 35-Year High Bring Some Record Supply Surges

Sun Belt Markets To Receive Most of the Additions
The 339-unit Broadstone North Ridge apartments completed construction this year in Round Rock, Texas, near Austin, a Sun Belt market expected to add a record number of new apartment units this year. (CoStar)
The 339-unit Broadstone North Ridge apartments completed construction this year in Round Rock, Texas, near Austin, a Sun Belt market expected to add a record number of new apartment units this year. (CoStar)
CoStar Analytics
July 5, 2023 | 5:42 P.M.

The number of new apartment units completing construction across the United States this year is projected to be 520,000, the highest number since 1987. As a result, some markets will experience significant increases in supply based on projected completions.

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