A new report sheds light on how many apartments will deliver in the DC area this year.
RentCafe reported last week that the region will add 13,189 new rental units by the end of 2023.
"This impressive figure follows the trend from the 2020-2022 pandemic building frenzy, during which the area contributed 42,723 new apartments to the national total," the report said.
DC proper is setting the pace, with 5,776 new apartments set to deliver this year. Arlington comes in second with 2,811 units, with Alexandria following with 836 apartments.
"Our annual apartment construction report based on Yardi Matrix data shows that the number of deliveries is expected to remain high until 2025 when the echoes of the current economic headwinds will begin affecting construction as well," RentCafe stated. "But so far, in the last three years, America has been benefiting from a construction boom not seen since the 1970s."
For a rundown of new developments in the DC region, check out UrbanTurf's Pipeline.
This article originally published at https://dc.urbanturf.com/articles/blog/13000_a_look_at_the_apartments_to_deliver_in_the_dc_area_in__2023/21410.
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