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Apartment Demand Surge Not Enough To Overcome Supply Glut

US South Registers Rent Decline, While the Midwest Gets Growth
Louisville, Kentucky, saw the greatest rent growth in the first quarter. Midwestern markets have avoided supply issues dragging down rents elsewhere. (Dale Rushing/CoStar)
Louisville, Kentucky, saw the greatest rent growth in the first quarter. Midwestern markets have avoided supply issues dragging down rents elsewhere. (Dale Rushing/CoStar)
CoStar News
April 5, 2024 | 8:51 P.M.

U.S. apartment supply has outpaced demand for a 10th consecutive quarter, holding rent growth below 1% in each of the past three months and pushing up vacancy rates, according to a new report.

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