Here’s a List: Occupied Apartment Growth Leaders for the Economic Cycle

Austin’s occupied apartment count has soared a whopping 30% during the current apartment market cycle, climbing by about 48,900 units. That’s the most drastic influx of additional renters seen in any of the country’s 50 biggest apartment markets since apartment demand began to make its post-recession comeback in early 2010.

Charlotte comes in just behind Austin for the growth pace of apartment renter households during this cycle, with the count of occupied units up about 28% from 2010 through 2nd quarter 2016.

Occupied Apartment Growth Rate Leaders Chart

Big metros registering occupied apartment growth of approximately 22% to 24% so far in the current cycle are San Antonio, Salt Lake City, Raleigh/Durham and Nashville. Apartment renter household growth of roughly 19% to 20% is seen in Dallas, Seattle, Orlando, and Houston.

This list of apartment demand leaders lines up incredibly well with the list of economic expansion leaders, underlining that job availability (and quality) influence household formation and housing demand capacity. The list of apartment construction leaders looks really similar as well since demand also is shaped by simple product availability.