Big city life became less desirable as 2020 unfolded. Renters and homeowners alike considered moving out more than ever and the surrounding towns became a focal point of multifamily development in the U.S.
But which ones have the capacity to receive new residents? To find out, RENTCafé looked at the suburbs that built the most new apartments in the past five years.
Chandler is third in the national top 20
• Chandler is the 3rd suburb in the U.S. by number of new apartments built in the past 5 years — 4,805 new units have been introduced since 2016.
• The city added 19 new multifamily buildings, most of them garden-type.
• The past five years’ development accounts for 21% of Chandler’s total apartment supply.
• The other top developing suburbs in Arizona are all in the Phoenix metro but didn’t make the national top 20. The most notable mentions are Gilbert – 2,003 units, Goodyear – 1,307, Peoria – 1,251 and Glendale – 998.
• The top 20 was dominated by 8 Texas suburbs, but Chandler managed to compete neck-and-neck with Dallas suburb McKinney (#2), which built 4,843 new units. Meanwhile, the top builder in the country was North Dallas suburb Frisco, having built 8,044 new apartments.
The full study can be accessed here: https://www.rentcafe.com/blog/rental-market/market-snapshots/top-20-suburbs-with-most-new-apartments/
