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Slowing apartment construction expected to gradually reduce supply pressure

Number of US units starting construction drops to lowest level since 2011
The New York region has the largest number of new units underway, with more than 43,000 apartments under construction, followed by Dallas–Fort Worth with about 31,000 units. Shown here is a new 289-unit rental apartment project at 960 Franklin Ave. in Brooklyn being developed by Brooklyn-based developer YS Developers.(CoStar)
The New York region has the largest number of new units underway, with more than 43,000 apartments under construction, followed by Dallas–Fort Worth with about 31,000 units. Shown here is a new 289-unit rental apartment project at 960 Franklin Ave. in Brooklyn being developed by Brooklyn-based developer YS Developers.(CoStar)
CoStar Analytics
May 11, 2026 | 8:11 P.M.

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Apartment construction activity contracted further in the first quarter, with new development slowing sharply as challenging market conditions and elevated construction costs weigh on project feasibility nationwide.

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