High Demand Meets High Supply in Huntsville
Huntsville, Alabama saw the most new apartment deliveries on record in 2021. That never-before-seen rate of 2,220 units in calendar 2021 matched annual demand of about 2,200 units. On average, Huntsville – a market of about 30,000 units – has gained about 730 new units annually over the last five years, making 2021’s annual supply tower head and shoulders above the deliveries of the recent past. As was seen throughout the country and especially in more southern markets with favorable weather and lifestyle amenities amid the early waves of the COVID-19 pandemic, Huntsville has experienced strong demand over the last two years. Looking forward, Huntsville is forecasted to gain another record rate of nearly 4,300 new apartment units in 2022. Annual demand is forecasted to keep close pace throughout the next year as well.