News
Here Are The Most Overbuilt Multifamily Submarkets
January 20, 2016
Two submarkets—Downtown Boston and University City Philadelphia—are "leading" the pack as multifamily construction has outstripped demand in some downtowns and CBDs.
At 14% and 13.5%, respectively, the two submarkets' multifamily vacancy rates are the highest in the country, most of it coming since 2013, National Real Estate Investor reports.
In fact, overbuilding is a problem throughout Boston; two other Boston submarkets found their way to the top 10 list of highest vacancies.
In other regions, submarkets like DC’s H Street/NoMa and Charlotte’s South End have yet to see their vacancy peak. Both sit in the top three for inventory growth, with 2,725 and 2,126 new units, respectively. [NREI]
