Here Are The Most Overbuilt Multifamily Submarkets

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]

Continue reading this story with a free account

Log in or register
Related Topics: Downtown Boston , Overbuilding
Sign up for more articles like this
Subscribe to Bisnow's National Newsletters
Related Stories

Texas Flips Blue, Putting Data Center Boom On Notice

Hynes Vows To Bring Property Tax Stability As New Cook County Assessor

Donalds Makes History With Win For Florida Governor, Voters OK Property Tax Amendment

BioMed Sells Cambridge Office At A Loss: The Boston Deal Sheet

Tenant Departure Leaves Beleaguered Broad Street Office Over Half-Vacant

Democrats Win Congress As America's Data Center Backlash Hits The Ballot Box

U.S. Hotel RevPAR Surges 7% In Q3, But Expect Easing From Here

Stock Sell-Off, Bond Market Jitters Signal Financing Trouble For AI Data Centers

Suburban D.C. County Weighs Microhousing As Affordability Salve

Fannie Mae, Freddie Mac Rewrite Underwriting Standards For NYC's Rent Freeze

Starwood Launches Residential Land JV Targeting $1B In Annual Originations

RealPage Antitrust Case Ends With Nearly $360M In Settlements For Renters