An eye-popping 420,000 new apartments are expected to be delivered across the US by the end of the year as demand for rental units continues to skyrocket amid rising inflation and interest rates.

That's according to new research from RentCafe, which notes that the last time apartment deliveries went over 400,000 units was in 1972.  The New York metro area is expected to deliver the most apartments with more than 28,000, double the number completed in 2021, while Dallas-Fort Worth, which claimed the #1 spot last year, is expected to develop 23,500 new units. (Dallas has held the top spot for four straight years, according to RentCafe analysts.) 

RentCafe calls the New York estimates "a remarkable comeback for a metro that has been bleeding residents as a direct consequence of the pandemic and subsequent restrictions," noting that in 2021, the city's population decreased by 1.6%, or roughly 328,000 people.