An estimated 506,353 apartments are expected to come online this year. While it’s lower than the over 640,000 units delivered last year, it’s still above the annual totals recorded each year since 2015.
Based on Yardi data, RentCafe.com breaks down the top regions and metros for new multifamily construction in 2025. The South, which has seen strong migration trends since before the pandemic, leads with over half the national total. Top destinations Texas and Florida comprise almost half of the completions in the South as well as nearly 30% of all new apartments in the nation this year. Texas is on track for 81,407 new apartments, while Florida anticipates 62,184 new units.
“This unprecedented level of new apartment developments is a direct response to the massive influx of people and capital into the Sun Belt states throughout the last decade, driven by job growth and a lower cost of living overall,” noted the report.
The South is expected to benefit from an estimated 265,613 units by the end of the year. The West follows, with 125,629 units forecast for 2025—almost 25% of the nation’s total. The Midwest and Northeast are expected to deliver 58,590 and 56,521 units, respectively.
Although the Northeast comes in at the bottom of the list of expected completions for regions, the New York City metro leads the nation for multifamily deliveries this year with 30,023 units, down 8.4% from 2024. Nearly half of the units—14,481—are slated to open in the boroughs of Brooklyn, Manhattan, and Queens. Across the Hudson River, another 1,392 are slated for completion in Newark, New Jersey.
The Lone Star State takes the second and third spots. The Dallas-Fort Worth metroplex comes in at No. 2 with 28,958 new apartments expected to open before the end of the year, a significant 22.4% decrease compared with 2024. The city of Dallas is the leader of the metro with 5,778 units on track, followed by Fort Worth with 3,793 units. McKinney, which ranked No. 1 on RentCafe’s best cities for renters in 2025, is slated to see 2,006 apartments come online this year.
The hot Austin metro, despite a 5.3% slowdown compared with last year, is No. 3 with an estimated 26,715 apartments set for completion. Nearly 15,200 apartments are slated for the city of Austin, with the suburb of Manor expecting 2,672 units.
Rounding out the top 10 metros are Phoenix with 21,188 expected units; Atlanta, 17,512 units; Charlotte, North Carolina, 16,995 units; Miami, 15,666 units; Houston, 14,439 units; Washington, D.C., 13,903 units; and Denver, 12,662 units.
