Nearly 23,000 units have been completed during the past four years.

Washington, D.C., has the largest share of downtown apartments—nearly 23,000 units completed between 2020 and 2024—in the country. According to RentCafe, nearly 80% of all apartment completions in D.C. during that time were "downtown apartments." Chicago, Denver, Atlanta and Charlotte, N.C., were also among the cities with the highest total units completed between 2020 and 2024. Long Beach, Calif., Milwaukee, Detroit and San Francisco were the only other cities with a share of downtown apartments at 75% or higher.

Overall, the data shows unit completions outside of the urban core increasing. "Since 2020, only 34.7% of new apartment completions have been in core areas, down from 39.2% pre-pandemic — a 4.5% drop signaling a more strategic approach to construction." Meanwhile, downtown adaptive reuse slipped from 10% to 6% during the same period.

While Charlotte and Miami were ranked fifth and sixth in total units completed between 2020-24, neither city saw a converted unit. Wichita, Kan., topped that list with nearly 47% of the downtown apartments coming by way of adaptive reuse. Wichita led the way prior to the pandemic as well. Oklahoma City, with no converted downtown units in the decade prior to the pandemic, ranked second at 39% between 2020-24.