9 Downtowns Where Apartment Supply Has Been Limited

Apartment construction in urban cores has been prolific over the last decade. Some urban cores – such as Downtown Los Angeles, Central Nashville and Chicago’s The Loop – have all added over 18,000 units since 2013. In other urban cores, however, construction has been very limited. In nine urban core submarkets (among the nation’s 50 largest apartment markets), local apartment inventory has swelled by less than 2,500 units in the last 10 years, according to data from RealPage Market Analytics. And in one urban core – Riverside’s San Bernardino submarket – existing inventory has actually contracted by nearly 200 units during that time. The Riverside submarket also makes the list as existing inventory there grew less than 1,900 units in the last decade. Downtown Memphis has grown by about 2,400 units in the past 10 years, accounting for a comparatively large increase of about 28%. Southern Norfolk, likewise, grew total inventory about 20% in the last decade with an addition of about 2,200 units. Central Las Vegas and North Greensboro, meanwhile, grew urban core inventory less than 10% over the last decade.