The U.S. is set to add a record number of new apartments this year as a total of 518,108 rental units are expected to be completed before 2025, according to a recent study by RentCafe.
That total marks a 9 percent increase over 2023 and a 30 percent increase over two years ago.
Texas is leading the way in the construction, with four of its cities sitting in the top 20 U.S. metropolitan areas for new apartments built this year—including two of the top three. New York City took the number one spot as the metro set to build the highest number of new apartments this year, for a total of 32,932 new rentals. Dallas followed with a very close 32,932 new apartments expected to be completed by the end of the year.
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The former pandemic boomtown of Austin, Texas, took the third spot with a total of 21,506 new …