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Population Growth Drives Record Apartment Demand in 7 Markets

Job growth and booming supply also lifted these markets to record performances.

By Kristen Smithberg | October 18, 2024 at 04:50 AM

Several tailwinds have propelled seven US apartment markets to record demand performances year-over-year during the third quarter. Those markets were Phoenix, Charlotte, Raleigh/Durham, Nashville, Jacksonville, Las Vegas and Salt Lake City, according to RealPage Market Analytics data.

Demand in Phoenix reached 21,563 units during the quarter, while Charlotte logged demand of 13,066 units and Raleigh/Durham saw demand for 12,715 units. Nashville logged for 11,408 units, followed by Jacksonville with 8,105, Las Vegas with 7,681 and Salt Lake City with 7,271.

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