New Apartment Construction Declined Nationwide Between 2017 and 2019

15,000 fewer rental units were completed in 2019 than in 2017. Learn more in this America Counts story.

America Counts: Stories Behind the Numbers New Apartment Construction Declined Nationwide Between 2017 and 2019 The number of rental apartments completed in the United States in 2019 remained statistically unchanged from the previous year but dropped by 15,000 from 2017. We looked at the characteristics of newly constructed apartments spanning 2015 to 2019, including the number of units, percentage rented in the first three months after being completed, and the median rents — both nationally and by regions. Read More During that period, monthly rents were about $100 higher than in 2015, even after adjusting for inflation. The information comes from the Survey of Market Absorption of New and Multifamily Units (SOMA). The publication is a valuable tool for builders, bankers, market analysts, land planners, and government officials to measure how soon housing units are rented or sold (absorbed) after their completion. Continue reading to learn more about: SOMA highlights from 2015 to 2019 Differences between total population percentage and the percentage of new apartment unit construction in U.S. geographical regions Help us spread the word about America Counts. Share this story on social media or forward it to a friend. Share This You May Be Interested Old Housing, New Needs: Only 10% of homes in the U.S. are aging-ready, while a quarter of all older households have trouble using some of the features of their home. Learn More About America Counts America Counts tells the stories behind the numbers in a new inviting way. It features stories on various topics such as families, housing, employment, business, education, economy, emergency preparedness, health, population, income and poverty. Contact our Public Information Office for media inquiries or interviews. Don't miss an America Counts story! Subscribe here.

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