Top U.S. Neighborhoods That Got the Most Apartments After the Recession

That’s how the great apartment boom happened. Since 2010, new apartment buildings have been popping up faster than you can say “concierge”, revitalizing forgotten downtowns and turning run-down neighborhoods into trendy new hotspots. We analyzed construction data from Yardi Matrix and Property Shark, in about 1,000 neighborhoods from coast to coast, to see which neighborhoods grew the most from a rental perspective. We took into account large-scale rental buildings of 50 units and more, located in the largest 30 cities in the U.S.

Rank	Neighborhood	City/Borough	State	New Apartments
1	Long Island City	Queens, NY	NY	12,533
2	Downtown L.A.	Los Angeles	CA	7,551
3	North San Jose	San Jose	CA	6,814
4	Clinton - Hell's Kitchen	Manhattan, NY	NY	6,058
5	Uptown	Dallas	TX	5,839
6	Williamsburg	Brooklyn, NY	NY	5,269
7	Oak Lawn	Dallas	TX	4,892
8	Downtown Brooklyn	Brooklyn, NY	NY	3,851
9	Washington Ave - Memorial Park	Houston	TX	3,569
10	Upper West Side	Manhattan, NY	NY	3,536

Table by RentCafe

1. Long Island City, Queens, NY

• New apartments: 12,533
• New apartment buildings: 41
• Neighborhood type: Gentrified
• Percentage of new apts from total apts in the nhood: 36%

More than a decade ago, Long Island City was tagged to become a hot nabe. It had the three things that any neighborhood deemed for greatness needs: location, location, and location. In a matter of just a few years, the neighborhood has gone from dated industrial vibe to gleaming new glass towers, to take the no. 1 spot for building far more apartments than any other neighborhood in the country has done in recent (post-recession) history. A massive total of 12,533 new apartments in 41 buildings were built between 2010 and 2016 in this Queens neighborhood.

2. Downtown Los Angeles

• New apartments: 7,551
• New apartment buildings: 35
• Neighborhood type: Urban core
• Percentage of new apts from total apts in the nhood: 63%

To say that Downtown LA has been reborn is an understatement. What used to be a vibrant downtown at the turn of the 20th century became a declining neighborhood with rundown, dilapidated buildings by the turn of the 21st century. But thanks to local efforts to revive DTLA, record numbers of new buildings have gone up in the past decade, bringing people back to what is now a lively, thriving residential and commercial area worthy of its “downtown” designation. As many as 35 new large-scale rental properties were built between 2010-2016, making up 63% of all the apartments located in Downtown L.A.

3. North San Jose

• New apartments: 6,814
• New apartment buildings: 11
• Neighborhood type: Tech hub
• Percentage of new apts from total apts in the nhood: 74%

North San Jose takes the no. 3 spot on this list. Located in the third most populous city in California, the neighborhood is already an enclave for tech professionals, making tremendous strides in industrial, commercial and residential development. With new tech companies constantly opening offices in the area, including Apple’s 86-acre R&D campus, demand for rental housing has skyrocketed in North San Jose, prompting a boom in new apartments, especially from 2014 onward. About three-quarters of all rentals in the neighborhood are newer than 2010. (Photo Credit: Google Maps)

4. Clinton – Hell’s Kitchen, Manhattan, NY

• New apartments: 6,058
• New apartment buildings: 15
• Neighborhood type: Gentrified
• Percentage of new apts from total apts in the nhood: 22%

Hell’s Kitchen is hot, and not that the devil’s cooking here, rather it’s one of the hottest up and coming neighborhoods in Midtown Manhattan. At least that’s what developers were betting on when they decided to build over 6,000 new apartments on less than one square mile of space.

5. Uptown, Dallas

• New apartments: 5,839
• New apartment buildings: 22
• Neighborhood type: Live-work-play community
• Percentage of new apts from total apts in the nhood: 67%

Dallas is one of the fastest-growing rental markets, so it’s no surprise that it ranks in the top 10 with two neighborhoods: Uptown and Oak Lawn. Located North of Downtown Dallas, the trendy enclave of single white-collar young professionals that is known as Uptown is becoming more vertical and denser year after year, with 22 new large-scale apartment developments opening in just seven years, including some pretty impressive high-rises. What’s even more impressive is that the newly built units represent two-thirds of the total apartments in Uptown.

6. Williamsburg, Brooklyn, NY

• New apartments: 5,269
• New apartment buildings: 29
• Neighborhood type: Gentrified
• Percentage of new apts from total apts in the nhood: 25%

The king of Brooklyn gentrification, Williamsburg has become virtually unrecognizable from what it used to look like in the 1980s. It has grown exponentially both on the commercial and residential front. The metamorphosis brought along unprecedented demand and rapidly rising housing prices, exacerbating the need for more high-density apartment developments. Between 2010 and 2016, 29 new large-scale apartment buildings opened in this Brooklyn neighborhood, which, along with the opening of a Whole Foods store and an Apple store, undoubtedly took Williamsburg into a new era. And the neighborhood’s irreversible transformation continues with another colossal project under construction along the riverfront known as the Domino redevelopment.

7. Oak Lawn, Dallas

• New apartments: 4,892
• New apartment buildings: 17
• Neighborhood type: LGBT community
• Percentage of new apts from total apts in the nhood: 56%

Back in the day, Oak Lawn used to be an inexpensive Dallas suburb, but nowadays it’s better known as one of the most affluent neighborhoods in the Metroplex, outdoing many other wealthy neighborhoods throughout the country in high-end rentals. Moreover, the apartment market saw a huge boom after the recession, with more than half of Oak Lawn’s rental units having been built during this period. (Photo Credit: Google Maps)

8. Downtown Brooklyn, NY

• New apartments: 3,851
• New apartment buildings: 13
• Neighborhood type: Business district
• Percentage of new apts from total apts in the nhood: 31%

Downtown Brooklyn is the second largest business district in New York City after Manhattan. Since its rezoning in 2004, the neighborhood has been transforming on all fronts, thanks in part to private investments worth billions of dollars. Since 2010, 13 modern apartment developments have popped up in Downtown Brooklyn, competing with historical office buildings for the most amazing views of the Lower Manhattan skyline.

9. Washington Avenue – Memorial Park, Houston

• New apartments: 3,569
• New apartment buildings: 12
• Neighborhood Type: Eclectic entertainment district
• Percentage of new apts from total apts in the nhood: 55%

The area along Washington Avenue in Houston has been the fastest-changing strip of land in the entire city. The convenient location of the Washington Ave – Memorial Park neighborhood, which encompasses the urban Memorial Park, makes it very attractive for young professionals working downtown. Previously a predominantly commercial area, residential development has really taken off in recent years, adding over 3,500 new apartments since 2010, which is more than half of the total existing apartments in the neighborhood.

10. Upper West Side, Manhattan, NY

• New apartments: 3,536
• New apartment buildings: 11
• Neighborhood type: Residential
• Percentage of new apts from total apts in the nhood: 11%

Nestled between Riverside and Central Park, the UWS is one of the most upscale residential neighborhoods in the country. Boasting historic brownstone residences and lots of green space, the neighborhood has added a fresh dose of new rental apartments since the recession.

11. Chelsea, Manhattan, NY

• New apartments: 3,504
• New apartment buildings: 13
• Neighborhood type: Art District
• Percentage of new apts from total apts in the nhood: 72%

12. Broadway, Seattle

• New apartments: 3,496
• New apartment buildings: 29
• Neighborhood type: Residential and entertainment district in Seattle
• Percentage of new apts from total apts in the nhood: 67%

13. Greenway – Upper Kirby, Houston

• New apartments: 3,147
• New apartment buildings: 10
• Neighborhood type: Commercial district
• Percentage of new apts from total apts in the nhood: 45%

(Photo Credit: Google Maps)

14. Memorial, Houston

• New apartments: 3,029
• New apartment buildings: 10
• Neighborhood type: Mixed-use
• Percentage of new apts from total apts in the nhood: 59%

15. Greater Uptown, Houston

• New apartments: 3,008
• New apartment buildings: 10
• Neighborhood type: Business district
• Percentage of new apts from total apts in the nhood: 30%

(Photo Credit: Google Maps)

16. South Lake Union, Seattle

• New apartments: 2,838
• New apartment buildings: 15
• Neighborhood type: Live-work-play community
• Percentage of new apts from total apts in the nhood: 68%

17. The Loop, Chicago

• New apartments: 2,830
• New apartment buildings: 8
• Neighborhood type: Business district in Chicago
• Percentage of new apts from total apts in the nhood: 76%

18. Northwest, San Antonio

• New apartments: 2,785
• New apartment buildings: 12
• Neighborhood type: Mixed-use
• Percentage of new apts from total apts in the nhood: 49%

(Photo Credit: Google Maps)

19. North Burnet, Austin

• New apartments: 2,739
• New apartment buildings: 6
• Neighborhood type: Commercial district in Austin
• Percentage of new apts from total apts in the nhood: 82%

20. Downtown, San Jose

• New apartments: 2,663
• New apartment buildings: 14
• Neighborhood type: Urban core
• Percentage of new apts from total apts in the nhood: 48%

 

Look-up table: Top 50 U.S. neighborhoods with most new apartments post-recession

Rank	Neighborhood	City/Borough	State	New Apartments
1	Long Island City	Queens, NY	NY	12,533
2	Downtown L.A.	Los Angeles	CA	7,551
3	North San Jose	San Jose	CA	6,814
4	Clinton - Hell's Kitchen	Manhattan, NY	NY	6,058
5	Uptown	Dallas	TX	5,839
6	Williamsburg	Brooklyn, NY	NY	5,269
7	Oak Lawn	Dallas	TX	4,892
8	Downtown Brooklyn	Brooklyn, NY	NY	3,851
9	Washington Ave - Memorial Park	Houston	TX	3,569
10	Upper West Side	Manhattan, NY	NY	3,536
11	Chelsea	Manhattan, NY	NY	3,504
12	Broadway	Seattle	WA	3,496
13	Greenway - Upper Kirby	Houston	TX	3,147
14	Memorial	Houston	TX	3,029
15	Greater Uptown	Houston	TX	3,008
16	South Lake Union	Seattle	WA	2,838
17	The Loop	Chicago	IL	2,830
18	Northwest	San Antonio	TX	2,785
19	North Burnet	Austin	TX	2,739
20	Downtown San Jose	San Jose	CA	2,663
21	Vance Jackson	San Antonio	TX	2,662
22	Downtown	Austin	TX	2,656
23	Hollywood	Los Angeles	CA	2,570
24	Five Points	Denver	CO	2,491
25	Camelback East	Phoenix	AZ	2,458
26	Potranco	San Antonio	TX	2,321
27	Belltown	Seattle	WA	2,309
28	Theatre District - Times Square	Manhattan, NY	NY	2,283
29	Sursum Corda	Washington	DC	2,245
30	Playa Vista	Los Angeles	CA	2,231
31	South Beach	San Francisco	CA	2,217
32	South of Market	San Francisco	CA	2,216
33	Stone Oak	San Antonio	TX	2,182
34	Central City	Phoenix	AZ	2,082
35	Hillside	Dallas	TX	2,017
36	Murray Hill	Manhattan, NY	NY	1,988
37	Afton Oaks - River Oaks	Houston	TX	1,948
38	Neartown - Montrose	Houston	TX	1,904
39	Cochran Heights	Dallas	TX	1,826
40	Eldridge - West Oaks	Houston	TX	1,777
41	Koreatown	Los Angeles	CA	1,755
42	LoDo	Denver	CO	1,748
43	Serra Mesa	San Diego	CA	1,725
44	Zilker	Austin	TX	1,720
45	Midtown	Houston	TX	1,661
46	South Boston	Boston	MA	1,646
47	Central Midtown	Manhattan, NY	NY	1,623
48	Greenpoint	Brooklyn, NY	NY	1,604
49	University Campus	Austin	TX	1,579
50	Heritage - Coventry Hills	Fort Worth	TX	1,570

Table by RentCafe

Notable locations include: Downtown Austin, TX; Hollywood, Los Angeles; Camelback East in Phoenix, AZ; Theatre District – Times Square in Manhattan; Playa Vista in Los Angeles; South of Market (SoMa) in San Francisco; Central City in Phoenix, AZ; Murray Hill in Manhattan; Koreatown in Los Angeles; LoDo in Denver, CO; Serra Mesa in San Diego, CA; South Boston, MA; Central Midtown in Manhattan; Greenpoint in Brooklyn, NY; Zilker in Austin, TX; and Eldridge – West Oaks in Houston.

Methodology: 
Apartment construction data was provided by our sister companies Yardi Matrix and Property Shark. Yardi Matrix is a business development and asset management tool for brokers, sponsors, banks and equity sources underwriting investments in the multifamily, office, industrial and self-storage sectors. Property Shark is an established data provider for the NY real estate industry and other major U.S. markets, offering in-depth property reports, sales data, foreclosure listings, and other research tools.
This analysis includes all rental units built between 2010 and 2016 in multifamily properties of 50+ units, located in the top 30 most populous cities in the United States.
Neighborhood mapping by RentCafe.