By Jillian Risberg
Jersey City is building as much as Manhattan this year in the latest construction boom to hit the Garden State.
According to RENTCafe.com, a nationwide apartment search website, Chilltown is neck and neck with the Big Apple in the race for most apartments to be unveiled in the tri-state area.
The serious development Jersey City is experiencing includes plans to deliver 2,111 new apartments, in direct competition with its New York counterpart (2,143).
And that’s not all, Bayonne joins the Hudson County pack with 663 new units of their own to enter the market this year.
Over in Bergen County— Hackensack is planning to unveil 488 units, while in New Brunswick (Middlesex County) predictions are pointing toward 388 units.
To check out other markets in comparison to the New York metro area, the whole study is available at https://www.rentcafe.com/blog/rental-market/apartment-construction-2019/
In the last decade, 2.34M apartments were delivered in the United States, comparable to the boom of the 1980s. While 2017 culminated with an impressive 331,765 apartments delivered, construction has slowed since, with projections remaining a bit under 300K for 2019.
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