A handful of smaller U.S. apartment markets logged big demand in 2022, giving some bigger markets a run for their money. Among the nation’s largest 150 apartment markets, Madison ranked fifth for absorption in 2022, with demand for over 2,700 units throughout the year, according to data from RealPage Market Analytics. This performance was bested by only a few typical big demand markets with far greater populations, such as New York, Newark, Austin and Nashville. Madison was one spot where demand didn’t falter in 2022’s 3rd quarter, when much of the U.S. logged net move-outs. Small apartment markets with annual demand between 1,000 and 2,000 units in calendar 2022 were Charleston, Omaha, Huntsville, Midland/Odessa and Boise City.
