Half a million new rental apartments are set to hit the U.S. market in 2025, following last year’s record-setting supply surge. From New York City to the Sun Belt, new units are reshaping vacancy rates, rent growth, and investment opportunities. In this episode, we unpack the metros leading the boom, the policy changes fueling construction, and how tariffs and material costs could slam the brakes on future projects. We’ll also explore why smaller landlords may benefit from the affordability gap that shiny new buildings aren’t solving.

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