Seattle – Tacoma metro area building new apartments at a higher rate than NYC

Tacoma Housing Authority estimates that beyond the already existing housing, 22,297 additional affordable units are needed to serve the city now, and an additional 21,745 by 2040.New apartment construction had been on the rise nationwide since 2011, peaking in 2017, with 331,765 units. That number has been in steady decline since then. RCLCO doesn’t see conditions changing much for millennials anytime soon.

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