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US multifamily construction boom eases further, slowed by these Sun Belt cities

Building across 50 of the largest apartment markets drops back from peaks
Nashville, Tennessee, has been one of the country’s active markets for apartment building, as a wave of new development reshaped its multifamily landscape. (Chase Brock/CoStar)
Nashville, Tennessee, has been one of the country’s active markets for apartment building, as a wave of new development reshaped its multifamily landscape. (Chase Brock/CoStar)
CoStar Analytics
May 12, 2026 | 10:43 P.M.

The post-pandemic apartment development surge keeps losing steam across the United States, with construction dropping across the 50 largest multifamily markets.

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News | US multifamily construction boom eases further, slowed by these Sun Belt cities