U.S. Submarkets with Explosive Apartment Inventory Growth

Among the neighborhoods that saw massive apartment inventory growth in the past 10 years, nearly half were in Texas.

U.S. apartment supply volumes peaked in late 2024 and have been on a downward trend since. But the nation is still reacting to one of the largest apartment building cycles it has ever seen.  

Some neighborhoods saw explosive growth that transformed their landscape in the past 10 years. Among the nation’s largest 150 apartment markets, there are 998 submarkets. Among those submarkets, 11 saw apartment inventory grow by more than 140% in the past decade, according to data from RealPage Market Analytics. In comparison, the U.S. overall saw an increase of 21.4% between 1st quarter 2016 and 1st quarter 2026.

Among the 11 submarkets across the U.S. with the most intense inventory growth in the past 10 years, five were located in Texas.

Dallas Submarkets

Apartment inventory in Frisco and Rockwall/Rowlett/Wylie more than tripled in the past 10 years. These were the two fastest growth rates nationwide.

The existing stock in Frisco – a northern suburb of Dallas, spanning across both Collin and Denton Counties – grew 259.6% between 1st quarter 2016 and 1st quarter 2026, with the addition of 30,848 new apartment units. In fact, completions totaling more than 30,000 units were right in line with typical heavy hitter Jersey City and just shy of Brooklyn.

The Rockwall/Rowlett/Wylie submarket – an affluent area located northeast of Dallas – saw the nation’s second-biggest inventory increase in the past 10 years, with an upturn of 234.5%, accounting for about 9,850 units.

Located just south of the Rockwall/Rowlett/Wylie submarket, Kaufman County saw its inventory more than double, growing by 154.3% in the past 10 years with the addition of 4,255 new apartment units.

Austin Submarkets

Two Austin submarkets – one in the eastern portion of the market and one located way up north – saw inventory more than double in the past decade.

Over 21,200 apartment units were added in East Austin in the past 10 years, growing the existing unit base 168.3%. This submarket benefited considerably from the construction of Texas State Highway 130, a tollway which completed in 2012 and has since allowed for a boom of building activity across a once barren landscape.

While small in landmass compared to neighboring Round Rock/Georgetown, Cedar Park has increased its existing apartment base by over 14,900 units in the past 10 years, resulting in growth of 140.5%. This rapidly growing area has been a suburban magnet, drawing young adults with its big corporate tech headquarters like Apple and Google, and attracting young working families with one of the few light rail lines to downtown Austin.

Beyond Texas

Interestingly, while smaller markets tend to see bigger percentage growth rates given their size, only two neighborhoods in smaller markets were included in the list of fast-growing submarkets. Wilmington’s Brunswick County saw total inventory grow by 6,910 units in the past 10 years, increasing the existing stock 198.1%. And Boise City’s Nampa/Meridian/Caldwell submarket saw an increase in inventory of 169.1%, with total deliveries of 11,341 units.

Other submarkets that have more than doubled apartment inventories in the past decade include Washington, DC’s Navy Yard/Capitol South, Phoenix’s Avondale/Goodyear/West Glendale and Central Phoenix, plus Central Nashville.