2025 Apartment Supply Leaders, Ranked by Market

In calendar 2025, more than 500,000 apartment units are expected to deliver across the U.S. While supply delays might curb that figure somewhat, it’s safe to say it will be another year of high supply in most major markets nationwide.

Fourteen markets nationwide will receive over 10,000 new apartment units in 2025, led by nearly 35,000 units expected in New York. That marks the highest delivery load on record in the RealPage data set, going back to 2008, although for a market as large as New York, that represents a comparatively mild growth rate of 1.8%. Phoenix, by slight contrast, will receive fewer units – a still-high 29,600 – which represents a larger growth rate of nearly 7%, according to data from RealPage Market Analytics.

The three largest apartment markets in Texas – Dallas, Austin and Houston – will each receive between 14,000 and 27,000 units in calendar 2025. Several other Sun Belt markets, including Charlotte, Raleigh, Atlanta and Orlando will be supply leaders in 2025, alongside a couple West region markets such as Seattle and Denver. Los Angeles, much like New York, will receive the most new supply on record in 2025, specifically peaking in 3rd quarter 2025 with an expected 19,400 units. Still, that record delivery load represents a 1.6% growth rate during calendar 2025 in Los Angeles. (New York and Los Angeles are the nation’s two largest apartment markets.)

Several smaller markets are expected to grow total inventory by more prolific ratios in 2025. The small North Carolina market of Asheville will grow by 13.3% in 2025 – the highest rate in the nation – with the addition of over 3,500 units. Huntsville, AL, Wilmington, NC, Cape Coral-Fort Myers, FL, Savannah, GA and Myrtle Beach, SC are all expected to grow total inventory by 7% or greater in 2025. All but one of the nation’s 150 largest apartment markets are set to receive some new supply in 2025, with Youngstown, OH as the lone exception.