Yardi Matrix data provides a look into the five Golden State metros with the highest percentage of multifamily construction geared toward affordable projects.
Seattle’s top five submarkets by development volume accounted for nearly half of the metro’s pipeline, which was in excess of 22,000 units in March.
North Dallas is far ahead of Fort Worth and Suburban Dallas in inventory expansion, boasting more units underway than the other two regions combined.
Roughly $2.7 billion in assets traded last year in the metro, with activity in suburban submarkets overtaking urban area sales by $200 million.
Mostly, but not exclusively, clustered around downtown Los Angeles, the submarkets on our list are undergoing a construction boom.
Developers added more than 35,000 units to the region’s inventory over the past year, with even more on the way for 2020.
Some 31,100 units came online in the Western Region last year, with January and October leading the way in multifamily completions.