Apartment Demand Smashes Previous Record High by 66%

For the vast majority of market-rate renters, apartments remain affordable and these renters moving in are bringing big incomes, according to recent data from RealPage.

Demand for market-rate apartments in 2021 soared far above the highest levels on record in the three decades RealPage has tracked the market. Net demand totaled more than 673,000 units⁠—obliterating the previous high set in 2000 by a remarkable 66%.