Occupancy is incredibly strong in New York’s conventional apartment stock, boosted by some of the nation’s best absorption volumes. Apartment occupancy in New York was at 97.1% in July, according to data from RealPage Market Analytics. That was one of the best showings among the nation’s 50 largest apartment markets, bested only by the rate in neighboring Newark (97.2%). Occupancy has held relatively steady in New York recently, up only 20 basis points (bps) year-over-year. While the U.S. overall saw quite a bit more occupancy progress in the past year (140 bps), that momentum took the July reading to 95.5%, quite a bit behind the New York showing. New York also ranked among the nation’s leaders for apartment absorption, logging demand for over 32,800 units during the year-ending 2nd quarter 2025. Only Dallas and Atlanta saw more absorption during that period.
