Highly popular due to their location and vibrant amenities, urban neighborhoods around the country have seen a boom in new apartments in the last five years. In fact, the top 20 most active neighborhoods — led by Downtown Los Angeles — have delivered a staggering 80,000 brand new rental units. — RentCafe
Downtown Los Angeles’ 10,136 new dwellings were followed by a distant second Midtown Atlanta, which had 5,936, and the formerly working-class Hunters Point neighborhood in far western Queens, which trailed Atlanta by a few hundred at 5,423.
Los Angeles is currently looking to add more than 25,000 new units of housing for the homeless by the year 2025, some of which will be placed in the newly rezoned downtown region, which is expected to add at least 175,000 new residents in just under twenty years time.
Neighborhoods in San Jose, San Antonio and Brooklyn also made the top 20. The lack of available housing stock in most markets has meant more and more renters coming on to the market since the pandemic began. The entire rental report can be read here.
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