Austin was the metro with the highest demand for rental apartments in the United States in 2023. The net absorption between the fourth quarter of 2022 and the third quarter of 2023 in Austin was 10,900 units, followed by Washington DC with 10,500 units. Net absorption is the total number of units which tenants moved into, less the total amount of space which tenants moved out from of during a specific period.
Net absorption of multifamily units in selected metropolitan areas in the United States as of 3rd quarter 2023
(in 1,000s)
Characteristic
Net absorption in thousand units
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CBRE Group. (October 26, 2023). Net absorption of multifamily units in selected metropolitan areas in the United States as of 3rd quarter 2023 (in 1,000s) [Graph]. In Statista. Retrieved July 22, 2024, from https://www.statista.com/statistics/1005984/net-absorption-multifamily-markets-usa/
CBRE Group. "Net absorption of multifamily units in selected metropolitan areas in the United States as of 3rd quarter 2023 (in 1,000s)." Chart. October 26, 2023. Statista. Accessed July 22, 2024. https://www.statista.com/statistics/1005984/net-absorption-multifamily-markets-usa/
CBRE Group. (2023). Net absorption of multifamily units in selected metropolitan areas in the United States as of 3rd quarter 2023 (in 1,000s). Statista. Statista Inc.. Accessed: July 22, 2024. https://www.statista.com/statistics/1005984/net-absorption-multifamily-markets-usa/
CBRE Group. "Net Absorption of Multifamily Units in Selected Metropolitan Areas in The United States as of 3rd Quarter 2023 (in 1,000s)." Statista, Statista Inc., 26 Oct 2023, https://www.statista.com/statistics/1005984/net-absorption-multifamily-markets-usa/
CBRE Group, Net absorption of multifamily units in selected metropolitan areas in the United States as of 3rd quarter 2023 (in 1,000s) Statista, https://www.statista.com/statistics/1005984/net-absorption-multifamily-markets-usa/ (last visited July 22, 2024)
Net absorption of multifamily units in selected metropolitan areas in the United States as of 3rd quarter 2023 (in 1,000s) [Graph], CBRE Group, October 26, 2023. [Online]. Available: https://www.statista.com/statistics/1005984/net-absorption-multifamily-markets-usa/