Multifamily markets with the highest net absorption in the U.S. as of Q2 2024
New York was the metro with the highest demand for rental apartments in the United States as of second quarter 2024. The net absorption between the third quarter of 2023 and the second quarter of 2024 in Austin was 23.8 thousand units, followed by Austin with 21.7 thousand 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.