- New York and Los Angeles will lead the US in new apartment deliveries in 2025, growing 84.5% and 139%, respectively.
- New York will add 34.8K units, nearly doubling its supply in 2024 and marking its highest delivery level ever.
- Los Angeles will deliver 18.7K units, significantly outpacing its 5-year annual average of 9.3K units.
- Other markets seeing major supply growth include Anaheim (+150%), Greensboro/Winston-Salem (+105%), and Boston (+30%).
Apartment deliveries are set to soar in 2025, with New York City and Los Angeles poised for record growth, driven by demographic demand and job market trends.
Both cities will see significant increases in supply, potentially easing housing pressures, as reported by GlobeSt.
NY’s Record Supply
New York City is set to deliver 34.8K apartments in 2025, an 84.5% increase over the 18.9K units added in 2024. This marks the highest annual apartment delivery figure RealPage has recorded for the market.
Strong job creation and continued demographic demand are fueling the city’s rental market. NYC leads the nation in job growth, creating opportunities that attract a renter-heavy population.
The influx of new units could help ease the city’s housing shortage, especially as higher-priced inventory encourages movement in lower-cost segments.
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LA Delivery Surge
Los Angeles will see an even more dramatic 139% increase in apartment deliveries, adding 18.7K units compared to 7.8K in 2024. This far exceeds the city’s five-year annual average of 9.3K units.
While the city benefits from strong demographic trends, its job market remains more volatile than New York’s. Over the last five years, LA added only 17.7K jobs, putting it on par with Chicago and behind smaller markets like Virginia Beach.
Other Growing Markets
Several other US markets are set to experience notable increases in apartment deliveries in 2025:
- Anaheim: +150%
- Greensboro/Winston-Salem: +105%
- Boston: +30%
- San Diego: +28.5%
- Columbus: +22.2%
- Phoenix: +10.4%
- Newark: +14.6%
- Charlotte: +12.4%
Why It Matters
The substantial growth in apartment deliveries highlights efforts to address the nation’s housing shortages, particularly in high-demand urban centers.
While increased supply offers relief, local job market dynamics and affordability remain critical to determining whether the new units effectively meet demand.
With NYC and LA leading the charge, 2025 will be a pivotal year for multifamily development.
