Some people prefer to have a luxury rental experience, defined by state-of-the-art amenities and shiny new finishes. And if this is your cup of tea, there's one North Jersey town that may have plenty of options that offer everything you're looking for.
In RentCafe's annual Apartment Construction Report , analysts reviewed new apartment construction data for 369 U.S. metropolitan areas and uncovered which ones are expected to have the greatest number of new apartment units by the end of 2024.
The New York metropolitan area was found to have the overall most new apartment construction in the U.S. for 2024, with 32,935 new units expected by the end of the year, according to the report. This is the third year in a row that the region topped the rankings.
"Fueled by the Big Apple's unique appeal — even with the high housing costs amid an ongoing shortage of rentals — the New York metro area is poised to build on last year's remarkable apartment construction performance," the report reads.
The New York metropolitan area also came in second for having the most number of new apartment units completed from 2019 to 2023 at 116,207 units, and leads the nation for having the most number of new apartment units expected to be built from 2024 to 2028 at 150,327 units.
As for the region's top cities for new apartment construction, Jersey City was named the third busiest city for creating new apartment units in 2024, according to the report.
This Hudson County city is expected to welcome 2,412 new apartment units by the end of 2024, which is twice as many than those expected in other apartment construction hubs like Queens and White Plains — 1,232 and 1,218, respectively.
Jersey City ranked just behind the New York City boroughs of Brooklyn and Manhattan, which are expected to see 9,379 and 2,979 new units by the end of 2024, respectively.
And new apartment construction in Jersey City isn't expected to slow down anytime soon, but instead will likely increase over the next several years. By 2028, Jersey City is projected to have 12,276 new apartments units, a 17.7% increase in construction compared to units built between 2019 and 2023.
Three other North Jersey cities also made the list for having the highest number of new apartment units expected to be completed in the New York metro area by the end of 2024. This includes No. 7 Hackensack with 686 units; No. 8 Newark with 592 units; and No. 10 Passaic with 397 units.
Maddie McGay is the real estate reporter for NorthJersey.com and The Record, covering all things worth celebrating about living in North Jersey. Find her on Instagram @maddiemcgay , on X @maddiemcgayy , and sign up for her North Jersey Living newsletter. Do you have a tip, trend or terrific house she should know about? Email her at MMcGay@gannett .
This article originally appeared on NorthJersey.com: North Jersey city to see the region's third highest number of new apartment units in 2024
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