While 2020 will always be known as the year of COVID-19, it might also go down as the year of the suburb.
The flight to the suburbs has become a growing preference for buyers, but renters are also finding respite in the outskirts of larger metro areas. That could help continue to drive new construction of apartments in suburbs across the country, according to a new report from Rent Café.
The study noted that 17 of the top 20 suburbs building apartment units over the last five years have occurred in Southern and Western states. Eight of the top 20 were in Texas.
“These locations are also great options for those considering a move to the suburbs because of their proximity to the core cities – 12 out of the 20 suburbs on our list are located no more than 20 miles away from an urban center,” the report noted.
Two of the top 20 fastest growing suburbs for apartment complexes were in suburban Orlando. Four Corners ranked 13th on the list with 2,304 units, and Maitland was 14th with 2,283. Those new units make up 33% of all apartments in Four Corners and 77% of apartments in Maitland.