The apartment supply pipeline in Boston is far from overwhelming, however. Compared to apartment inventories across the 50 largest U.S. metropolitan areas, Boston’s current expansionary pace ranks 18th. This ratio is down from recent highs – the 21,000 units that were in process in 2019 represented almost 9.5% of the area’s in-place stock – and is in line with most major apartment markets today. For context, Miami has more than 15% of its existing units under construction to lead this group. Richmond, Virginia, with a regional population of 1.4 million that is roughly 30 percent the size of Boston’s, has a similar percentage of apartment units underway.
Source: Boston Apartment Supply Story Looks Scary, but Not As Daunting Upon Deeper Read
