{"id":116518,"date":"2021-08-30T00:00:59","date_gmt":"2021-08-30T07:00:59","guid":{"rendered":"https:\/\/www.rentcafe.com\/blog\/?p=116518"},"modified":"2024-09-03T03:32:24","modified_gmt":"2024-09-03T10:32:24","slug":"apartment-construction-2021","status":"publish","type":"post","link":"https:\/\/www.rentcafe.com\/blog\/rental-market\/apartment-construction-2021\/","title":{"rendered":"Despite Challenges, 2021 New Apartment Construction Tops 330,000 for 5th Consecutive Year"},"content":{"rendered":"<p style=\"background: white;\"><strong>New apartment construction remains strong this year \u2014 more than 330,000 rental units are expected to be delivered nationwide, which is comparable to the previous four years of construction boom. And, despite challenges brought forth by the pandemic, eight metros are expected to hit five-year highs of new apartments.<\/strong><\/p>\n<p>More precisely, 334,000 units are projected to be opened in the U.S. by the end of this year, according to Yardi Matrix estimates. These figures reflect the striking difference between the aftermath of the pandemic crisis and that of the housing crisis of 2008. In 2021, there were nearly three times more apartments under construction than there were in 2011.<\/p>\n<p style=\"text-align: center;\"><iframe id=\"datawrapper-chart-xFjtS\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"U.S. New Apartment Deliveries by Year\" src=\"https:\/\/datawrapper.dwcdn.net\/xFjtS\/3\/\" height=\"392\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Column Chart\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(e){if(void 0!==e.data[\"datawrapper-height\"]){var t=document.querySelectorAll(\"iframe\");for(var a in e.data[\"datawrapper-height\"])for(var r=0;r<t.length;r++){if(t[r].contentWindow===e.source)t[r].style.height=e.data[\"datawrapper-height\"][a]+\"px\"}}}))}();\n<\/script><\/p>\n<p><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/apartment-construction-2020\/\">Compared to 2020<\/a>, there\u2019s only a slight 2.5% decrease in new units, with apartment construction maintaining a steady pace under the circumstances, which include: the pandemic, developers\u2019 struggles to find qualified workers, funding, permits or the <a href=\"https:\/\/fortune.com\/2021\/06\/10\/lumber-prices-2021-chart-price-of-lumber-production-wood-supply-costs-update-june\/\">sky-high cost of lumber.<\/a><\/p>\n<p style=\"background: white;\"><strong><span style=\"color: #444444;\">\u201cThe pandemic shifts and resurgence of the residential rental market bring new residential supply into focus,\u201d<\/span><\/strong><span style=\"color: #444444;\">\u00a0said Doug Ressler, manager of business intelligence at Yardi Matrix.\u00a0<strong>\u201cLack of entry-level housing supply and rising home prices will show the multifamily rental market demand increasing as new renters enter the market and <a href=\"https:\/\/www.rentcafe.com\/blog\/millennial-statistics\/\">Millennials<\/a> extend their rental commitments.\u201d<\/strong><\/span><\/p>\n<p>Specifically, the Dallas-<a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/fort-worth-tx\/\" target=\"_blank\" rel=\"noopener\">Fort Worth<\/a> (DFW) metro is set to deliver the most units for the fourth year in a row. At the same time, metros like <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/phoenix-az\/\" target=\"_blank\" rel=\"noopener\">Phoenix<\/a>; <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/charlotte-nc\/\" target=\"_blank\" rel=\"noopener\">Charlotte, NC<\/a>; or <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/orlando-fl\/\" target=\"_blank\" rel=\"noopener\">Orlando, FL<\/a> \u2014 which haven\u2019t been construction-crazed in the past \u2014 are now making waves with impressive numbers of projected new apartments.<\/p>\n<h2>DFW Metro on New Apartment Building Spree, Phoenix Metro Comes in Strong<\/h2>\n<p>The <strong>DFW <\/strong>metro\u00a0is still going strong and is expected to maintain its status as the top metro in apartment construction, with 21,173 new units projected to hit the market before the end of 2021. Notably, the Dallas area continues to grow with the recent relocation of several large firms, such as financial services giant\u00a0<a href=\"https:\/\/www.nbcdfw.com\/news\/local\/charles-schwab-to-officially-move-headquarters-to-denton-county-on-jan-1\/2514658\/\">Charles Schwab<\/a>, as well as the country\u2019s largest commercial real estate services company,\u00a0<a href=\"https:\/\/www.latimes.com\/business\/story\/2020-10-29\/real-estate-brokerage-cbre-moves-headquarters-from-los-angeles-to-dallas#:~:text=CBRE%20Group%2C%20the%20country's%20largest,is%20a%20Fortune%20500%20firm.\">CBRE Group<\/a>.<\/p>\n<p>Click on the bubbles below to see the number of projected new apartments in metros from various states like Washington; Minnesota; North Carolina; Georgia; Florida; Texas; Arizona; Missouri; Colorado; California; New York; and the District of Columbia.<span class=\"EOP SCXW35659456 BCX0\" data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p style=\"text-align: center;\"><iframe id=\"datawrapper-chart-Jv3TI\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Top 20 U.S. Metros by Projected New Apartments \" src=\"https:\/\/datawrapper.dwcdn.net\/Jv3TI\/11\/\" height=\"534\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Map\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(e){if(void 0!==e.data[\"datawrapper-height\"]){var t=document.querySelectorAll(\"iframe\");for(var a in e.data[\"datawrapper-height\"])for(var r=0;r<t.length;r++){if(t[r].contentWindow===e.source)t[r].style.height=e.data[\"datawrapper-height\"][a]+\"px\"}}}))}();\n<\/script><\/p>\n<p>In the runner-up spot, the\u00a0<a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/new-york-city-ny\/\" target=\"_blank\" rel=\"noopener\"><strong>New York<\/strong><\/a> metro\u00a0maintains its position on the list and is expected to add 19,375 new units. However, the\u00a0<strong>Phoenix <\/strong>metro is the one to watch this year, coming in third with nearly 16,000 new apartments expected to be delivered this year. The metro had a quick and impressive climb to the top \u2014 in 2020, Phoenix was in 8th place nationally after taking 15th in 2019.<\/p>\n<p>Meanwhile, two large metros with about 4.5 million residents each that have been dealing with a housing shortage for years,\u00a0<a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/boston-ma\/\" target=\"_blank\" rel=\"noopener\"><strong>Boston <\/strong><\/a>and <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/san-francisco-ca\/\" target=\"_blank\" rel=\"noopener\"><strong>San Francisco<\/strong><\/a> \u2014 which are lower on the list with only 8,455 and 7,872 new apartments, respectively \u2014 are set to open this year.<\/p>\n<p>Hot on the heels of Phoenix is the <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/houston-tx\/\" target=\"_blank\" rel=\"noopener\"><strong>Houston<\/strong><\/a> metro area, with 15,760 new apartments set to open this year, followed by the <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/los-angeles-ca\/\" target=\"_blank\" rel=\"noopener\"><strong>Los Angeles<\/strong><\/a> metro (13,682 apartments); and the <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/washington-dc\/\" target=\"_blank\" rel=\"noopener\"><strong>Washington, D.C.<\/strong><\/a>\u00a0metro (12,607 apartments).<\/p>\n<p>Not far behind, metros in the <strong><a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/kansas-city-mo\/\" target=\"_blank\" rel=\"noopener\">Kansas City, MO<\/a><\/strong>\u00a0and\u00a0<a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/raleigh-nc\/\" target=\"_blank\" rel=\"noopener\"><strong>Raleigh, NC<\/strong><\/a>\u00a0areas \u2014 although both smaller in size \u2014 are the newcomers to the list. They managed to snatch up the 19th and 20th spots on the list with an expected new supply of nearly 5,000 apartments each.<\/p>\n<p style=\"text-align: center;\"><iframe id=\"datawrapper-chart-xyfJ6\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\" Change in New Apartments in the Top 20 Metros Building the Most \" src=\"https:\/\/datawrapper.dwcdn.net\/xyfJ6\/15\/\" height=\"726\" frameborder=\"0\" scrolling=\"no\" aria-label=\"table\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(e){if(void 0!==e.data[\"datawrapper-height\"]){var t=document.querySelectorAll(\"iframe\");for(var a in e.data[\"datawrapper-height\"])for(var r=0;r<t.length;r++){if(t[r].contentWindow===e.source)t[r].style.height=e.data[\"datawrapper-height\"][a]+\"px\"}}}))}();\n<\/script><\/p>\n<h2>New Apartment Construction Rates in Denver Metro Down by Nearly Half<\/h2>\n<p style=\"background: white;\"><span style=\"color: #444444;\">Conversely, only six of the top 20 metros are experiencing a decrease compared to last year.\u00a0Among the most surprising appearances on this list are <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/denver-co\/\" target=\"_blank\" rel=\"noopener\">Denver<\/a> (down 46%) and <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/seattle-wa\/\" target=\"_blank\" rel=\"noopener\">Seattle<\/a> (down 19%), which were previously two of the top metros for new apartments throughout the 2010s.<\/span><\/p>\n<p style=\"background: white;\"><span style=\"color: #444444;\">On the other end of the spectrum, the<b> Dallas <\/b>metro\u00a0continues to build more than any other metro. Even so, it\u2019s still one of the six metros that saw some of the biggest slowdowns, with a 13% year-over-year drop in the number of units expected to be delivered here this year. The other metros failing to match their 2020 levels were\u00a0<a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/austin-tx\/\" target=\"_blank\" rel=\"noopener\"><b>Austin, TX <\/b><\/a>(down 10%),\u00a0<b>Boston <\/b>(down 5%) and\u00a0<a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/minneapolis-mn\/\" target=\"_blank\" rel=\"noopener\"><b>Minneapolis<\/b><\/a> (down 0.3%).\u00a0<\/span><\/p>\n<p style=\"background: white;\"><span class=\"normaltextrun\"><span style=\"color: #444444;\">Alternatively, some metros are making outstanding progress compared to last year, with\u00a0<\/span><\/span><strong><span style=\"color: #444444;\">Charlotte<\/span><\/strong><span class=\"normaltextrun\"><span style=\"color: #444444;\">\u00a0and\u00a0<\/span><\/span><strong><span style=\"color: #444444;\"><a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/san-jose-ca\/\" target=\"_blank\" rel=\"noopener\">San Jose, CA<\/a>,<\/span><\/strong><span class=\"normaltextrun\"><span style=\"color: #444444;\">\u00a0seeing the highest increases, at 100% and 79%, respectively. In fact, the\u00a0<b>Charlotte <\/b>metro\u00a0\u2014 along with the\u00a0<b>Orlando <\/b>and\u00a0<b>Phoenix <\/b>metros \u2014\u00a0are the surprises on the list, making outstanding appearances. All three of these areas are expected to increase their apartment supplies by more than 70%, with the Orlando metro set to rise by a notable 78% and the Phoenix metro by 76%.<\/span><\/span><span class=\"eop\"><span style=\"color: #444444;\">\u00a0<\/span><\/span><\/p>\n<h2>5-Year High in Phoenix &amp; 7 Other Metros<\/h2>\n<p>Of all the metros analyzed, eight are set to hit their peaks in new apartment construction this year compared to their totals from the last five years.<\/p>\n<p style=\"text-align: left;\"><iframe id=\"datawrapper-chart-J9xWz\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Metros that Hit the Highest Number of New Apartments in 2021\" src=\"https:\/\/datawrapper.dwcdn.net\/J9xWz\/1\/\" height=\"347\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Dot Plot\"><\/iframe>First up is<strong> Phoenix<\/strong>,<strong>\u00a0<\/strong>the most notable metro, which is projected to build a whopping 15,846 new units this year \u2014 considerably more than its deliveries in past years. Currently witnessing a housing boom and a population increase of 2.1%, the metro is set to meet the demand for new apartments in the area.<\/p>\n<p>Next is<strong> Charlotte<\/strong>.\u00a0With 10,723 projected new apartments, it\u2019s also one of the few metros that are set to beat their own construction records. What\u2019s more, the metropolitan area not only recovered from its poor 2020 performance, but it\u2019s also on track to seeing higher numbers than in recent years.<\/p>\n<p>Likewise, the<strong> Orlando <\/strong>metro made a stellar recovery from its 2018 and 2020 drops in construction, as well. This year, the area is projected to complete 8,211 new units \u2014 considerably more than its efforts in the last five years.<\/p>\n<p><strong>\u201cThe strong demand fueled by robust inbound migration and employment growth<\/strong>\u201d is the reason we\u2019re seeing such high levels of construction in these markets, according to Ressler.\u00a0<strong>\u201cThe Southwest market which meets both these conditions is Phoenix. In addition, Phoenix zoning and availability of land is adding to the attraction.\u201d<\/strong><\/p>\n<p>Other metros that are set to beat their own records are\u00a0<strong>San Francisco; <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/tampa-fl\/\" target=\"_blank\" rel=\"noopener\">Tampa, FL<\/a>; San Jose; Kansas City<\/strong><strong>, MO<\/strong>; and\u00a0<strong>Raleigh, NC<\/strong>.\u00a0With an increase of at least 36% in the number of new units compared to last year, all of them are planning to deliver\u00a0between 5,000 and 8,000 new apartments.<\/p>\n<p>Check out the metros below to see the estimated number of new apartments in cities from those areas, including Seattle and <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/redmond-wa\/\" target=\"_blank\" rel=\"noopener\">Redmond<\/a> in Washington; Tampa, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/st-petersburg-fl\/\" target=\"_blank\" rel=\"noopener\">St. Petersburg<\/a> and <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/clearwater-fl\/\" target=\"_blank\" rel=\"noopener\">Clearwater<\/a> in Florida; Washington, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/arlington-va\/\" target=\"_blank\" rel=\"noopener\">Arlington<\/a>, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/alexandria-va\/\" target=\"_blank\" rel=\"noopener\">Alexandria<\/a> and <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/north-bethesda-md\/\" target=\"_blank\" rel=\"noopener\">North Bethesda<\/a> in the District of Columbia; Raleigh, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/cary-nc\/\" target=\"_blank\" rel=\"noopener\">Cary<\/a> and <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/morrisville-nc\/\" target=\"_blank\" rel=\"noopener\">Morrisville<\/a> in North Carolina; Phoenix, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/mesa-az\/\" target=\"_blank\" rel=\"noopener\">Mesa<\/a>, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/gilbert-az\/\" target=\"_blank\" rel=\"noopener\">Gilbert<\/a>, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/glendale-az\/\" target=\"_blank\" rel=\"noopener\">Glendale<\/a>, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/chandler-az\/\" target=\"_blank\" rel=\"noopener\">Chandler<\/a>, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/scottsdale-az\/\" target=\"_blank\" rel=\"noopener\">Scottsdale<\/a>, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/tempe-az\/\" target=\"_blank\" rel=\"noopener\">Tempe<\/a>, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/peoria-az\/\" target=\"_blank\" rel=\"noopener\">Peoria<\/a> and <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/goodyear-az\/\" target=\"_blank\" rel=\"noopener\">Goodyear<\/a> in Arizona; and <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/atlanta-ga\/\" target=\"_blank\" rel=\"noopener\">Atlanta<\/a>, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/decatur-ga\/\" target=\"_blank\" rel=\"noopener\">Decatur<\/a>, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/buford-ga\/\" target=\"_blank\" rel=\"noopener\">Buford<\/a>, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/lawrenceville-ga\/\" target=\"_blank\" rel=\"noopener\">Lawrenceville<\/a>, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/duluth-ga\/\" target=\"_blank\" rel=\"noopener\">Duluth<\/a>, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/cumming-ga\/\" target=\"_blank\" rel=\"noopener\">Cumming<\/a> and <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/mcdonough-ga\/\" target=\"_blank\" rel=\"noopener\">McDonough<\/a> in Georgia.<\/p>\n<p><script id=\"infogram_0_cb168cee-2051-4160-bfe3-64862ede28ab\" title=\"ApartmentConstruction2021\" src=\"https:\/\/e.infogram.com\/js\/dist\/embed.js?X01\" type=\"text\/javascript\"><\/script><\/p>\n<h3>Methodology<\/h3>\n<p><em>RentCafe is a\u00a0<\/em><a href=\"https:\/\/www.rentcafe.com\/\"><em>nationwide apartment search website<\/em><\/a><em>\u00a0that enables renters to easily find apartments and houses for rent throughout the United States.<\/em><\/p>\n<p><em>To compile this report, RentCafe\u2019s research team analyzed new apartment construction data across 109 U.S. metropolitan statistical areas. The study is exclusively based on apartment data related to buildings containing 50 or more units. Metros with less than 300 units or less than two properties\/buildings were not included.<\/em><\/p>\n<p><em>The Bronx and Staten Island are not included in the New York metro data set.<\/em><\/p>\n<p><em>Apartment data was provided by our sister company,\u00a0<\/em><a href=\"https:\/\/www.yardimatrix.com\/\"><em>Yardi Matrix<\/em><\/a><em>, 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.<\/em><\/p>\n<p><em>Apartment projections for 2021 are calculated based on a Yardi Matrix proprietary algorithm, which includes confirmed and likely completions for 2021 based on the issuance of a certificate of occupancy. Apartment projections are estimates and subject to change. Actual apartment completion dates depend upon a variety of factors and may change.<\/em><\/p>\n<p><em>Data on population changes from 2019 to 2020 (as of July 1, 2021<\/em><em>) is from the\u00a0<\/em><a href=\"https:\/\/www.census.gov\/newsroom\/press-kits\/2020\/pop-estimates-county-metro.html\"><em>U.S. Census Bureau<\/em><\/a><em>.<\/em><\/p>\n<h3>Fair use and redistribution<\/h3>\n<div class=\"usagerights\">\n<div class=\"fairuse\">\n<p>We encourage you and freely grant you permission to reuse, host, or repost the images in this article. When doing so, we only ask that you kindly attribute the authors by linking to <a href=\"https:\/\/www.rentcafe.com\">RentCafe.com<\/a> or this page, so that your readers can learn more about this project, the research behind it and its methodology.<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>New apartment construction remains strong this year \u2014 more than 330,000 rental units are expected to be delivered nationwide, which is comparable to the previous four years of construction boom. And, despite challenges brought forth by the pandemic, eight metros are expected to hit five-year highs of new apartments. More precisely, 334,000 units are projected&hellip;<\/p>\n","protected":false},"author":55,"featured_media":116639,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3661,3659],"tags":[],"class_list":["post-116518","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-snapshots","category-rental-market","gallery-content-unit"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>2021 New Apartment Construction - RentCafe rental blog<\/title>\n<meta name=\"description\" content=\"Apartment construction remains strong, despite challenges brought forth by the pandemic. 8 metros are set to hit 5-year highs of new units.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/apartment-construction-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Despite Challenges, 2021 New Apartment Construction Tops 330,000 for 5th Consecutive Year\" \/>\n<meta property=\"og:description\" content=\"Apartment construction remains strong, despite challenges brought forth by the pandemic. 8 metros are set to hit 5-year highs of new units.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/apartment-construction-2021\/\" \/>\n<meta property=\"og:site_name\" content=\"RentCafe rental blog\" \/>\n<meta property=\"article:published_time\" content=\"2021-08-30T07:00:59+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-09-03T10:32:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2021\/08\/Apartment-Construction-2021.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"890\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Florentina Sarac\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Florentina Sarac\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"7 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.rentcafe.com\/blog\/rental-market\/apartment-construction-2021\/\",\"url\":\"https:\/\/www.rentcafe.com\/blog\/rental-market\/apartment-construction-2021\/\",\"name\":\"2021 New Apartment Construction - 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