KC bucks national apartment construction trend

• The national numbers are still above normal for this decade, according to a report by listing site RentCafe.

The big picture: The metro's strength in numbers comes from a high demand for luxury apartments, growing rental options in popular suburbs, and public investments in affordable housing.

By the numbers: More than 4,000 units opened for leasing in 2024, according to a Q4 report by commercial real estate company Northmarq.

• At least 4,000 additional apartments are projected to open in 2025, the report forecasts.
• As of July, 5,300 units had been built since the previous July, and 5,900 units are currently under construction, according to a report by multifamily real estate investment company GREA.

Zoom in: "Johnson County leads the metro with the most units under construction," GREA's report states, with other hot zones including downtown and the Northland.

• Cass County has increased its inventory by 55% since 2022.

• Key factors for developers include population growth, available land and strong employment bases.

Between the lines: Rent is up 3.8% year-over-year, the GREA report states, driven by high demand for luxury and workforce housing.

Yes, but: KCMO is continuing its push for 10,000 affordable units by 2027, announcing earlier this month an $8.5 million investment in eight projects that would preserve and construct 578 units.

What we're watching: Transformative projects, like the redevelopment of the West Bottoms and the village at Berkley Riverfront, are projected to add thousands of apartments over the coming years.