SLU among the top 20 neighborhoods in apartment growth
While many predicted that urban cores would suffer as a result of the pandemic, they are thriving more than ever. A new report by RentCafe, which can be found here, illustrates that the top 20 most active urban neighborhoods around the country have delivered a mind-boggling 80,000 brand new rental units in the last five years.
With Millenial and Gen Z renters flocking to vibrant areas with a multitude of amenities, RentCafe compiled a list of top neighborhoods for apartment construction – and South Lake Union made the list. Over ten thousand new rental units were completed in Downtown Los Angeles, which topped the list, between 2017-2021. Midtown Atlanta neighborhood was second, followed by Hunters Point (Queens, NY) and Navy Yard in Washington, DC. Downtown Forth Worth came in at 15th place with 4,630 units per the report. South Lake Union, popular with those employed in the bustling tech industry saw 2,979 new units built during the five year period, which accounts for a staggering 12% of the city’s new units. We urge you to check out the fascinating report here.
RentCafe is a Santa Barbara-based company which compiles information from 50+ units in size multifamily properties from across 130 markets in the United States.
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