While more apartments have been built in the nation’s top 150 major markets since 2010, there are a half million more renters than units available.
Only three markets among those 150 where supply has outpaced demand: Washington, D.C., Miami, and Austin, Texas, according to a new study from RealPage,
Overall, apartment occupancy was the highest in August that it has been at any point since the tech boom in 2000, RealPage said earlier this month. August also marked the seventh consecutive month that apartment occupancy has risen, and the 12th consecutive month of rent growth at or above 3%. Of the nation's 150 major markets, 91 of them met or exceeded the national norm for occupancy and hit the effectively full mark of 95% in August.
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