Small Markets Scheduled to Get All-Time High Apartment Supply in 2025

A handful of apartment markets are set to receive their highest supply volumes on record in calendar 2025, and most of those are smaller markets. Asheville is scheduled to see 3,549 units deliver in calendar 2025, which marks the highest delivery load in the RealPage Market Analytics data set and translates to the highest annual inventory increase in the nation at 13.3%. It’s no surprise to see Asheville top this list, as this market has grown at one of the fastest clips nationwide in the past 10 years. Still, even in a decade of elevated supply, the small North Carolina market’s annual delivery volume has averaged below 1,000 units. Boulder is expected to see its apartment base climb by 1,158 units in 2025, which would increase its existing base by 3.6%. Fort Wayne, IN is scheduled to gain 804 units, with an increase of 2.8%. On the West Coast, Oxnard, CA is scheduled for a 2025 delivery volume of 1,285 units, for 2.9% growth. And on the East Coast, the apartment base in Trenton, NJ is expected to grow by 4.9% with the addition of 1,490 units. In addition to these smaller markets, major markets set to see peak supply in 2025 include Columbus, Greensboro/Winston-Salem and New York.