Saturday, March 15, 2014

Saturday Stats: #1 Apartment Boom Town

SpareFoot ranked the top apartment boom towns in the US, and San Jose took the pole position on the list with San Francisco coming in 8th. The analysis looked at the total apartments per person, population growth, the percentage of people spending more than 35% of their income on rent (lower numbers are better), per-capita personal income growth, per-capita GDP growth, and growth in per-capita construction permits for new apartments. The article is an interesting read (especially on how Detroit made the list) and you can access it here.

The Way to San Jose
Here is SpareFoot’s ranking of America’s Top 15 Apartment Boom Towns, in descending order.
  1. San Jose, CA
  2. Austin, TX
  3. Houston, TX
  4. Grand Rapids, MI
  5. Nashville, TN
  6. Dayton, OH
  7. Portland, OR
  8. San Francisco, CA
  9. Dallas-Fort Worth, TX
  10. Oklahoma City, OK
  11. Seattle, WA
  12. Minneapolis-St. Paul, MN
  13. San Antonio, TX
  14. Des Moines, IA
  15. Detroit, MI
San Jose’s continued job growth, along with its shortage of affordable entry-level homes, encourages younger workers to look for apartments, said Matthew Mahood, president and CEO of the San Jose Silicon Valley Chamber of Commerce.

“The apartment housing market has responded to this increased demand and has built and will continue to build new projects. In fact, there are two high-rise projects being built simultaneously in downtown San Jose that will provide for nearly 700 for-rent units in the next two years,” Mahood said.

Source: The SpareFoot Blog


  1. A Brazilian tv show, Generation Brazil was being filmed at SJ City hall yesterday and will continue today. ,

  2. Old photo with the 88 and 360 notably missing. I am surprised SF made the list, but I guess they are getting into apartments too somewhat, yeah SJ is adding a lot of apartments, mostly in North SJ. Really need to keep working on the pipeline though, any slow down and we will see rents skyrocket like they have in SF and the peninsula. I know this blog seems to think high COL is a bragging point, but I tend to disagree.