Apartment construction is trending higher in Memphis, Tennessee, with 2,700 units underway through late summer, accounting for about 3.2% of inventory under construction. That is the highest rate the market has reported in 20 years. The pace of construction is expected to cool as construction starts have steadily fallen in the past two quarters.
Multifamily Construction Ticks Higher in Memphis
Vacancy Rates Rising Due to Supply-Side Pressure
CoStar Analytics
September 1, 2022 | 1:11 P.M.
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- Properties
- The Landing Residences
1 Dr Martin Luther King Jr Ave, Memphis, TN