Affordable housing construction hits 10-year high

In the post-pandemic era, affordable housing construction has skyrocketed. Nearly 310,000 affordable apartments were built nationwide between 2020 and 2024, according to the latest report by RentCafe.

Construction for affordable housing units grew 73% over pre-pandemic levels (2015–2019)—about twice the pace of overall apartment development—and reached a 10-year high in 2024, with more than 91,000 units delivered nationwide.

The RentCafe report highlights the U.S. markets leading the surge, with several key projects all across the country.

Key takeaways, provided by RentCafe:

• Since 2020, nearly 310,000 affordable apartments have come online nationwide, representing 12.6% of all new multifamily construction.
• Roughly 91,000 affordable units were completed in 2024 alone—almost one-third of the total added over the past five years.
• Affordable housing development increased 73% compared to 2015–2019, far surpassing the pace of overall apartment construction.
• San Antonio, Phoenix, and Charlotte led major U.S. metros in affordable housing growth for renters.

Where is Affordable Housing Construction Growing in 2026? 

Though coastal metros may deliver the largest volumes of affordable housing, many Sun Belt metros are seeing the fastest growth in affordable construction, according to RentCafe.

"The American Rescue Plan has helped move things forward by directing billions of dollars into housing through State and Local Fiscal Recovery Funds," the report states. "On top of that, many states introduced or expanded their own tax credit programs. These efforts helped developers cover rising costs and move projects across the finish line faster while simultaneously keeping rents affordable for the long term."

To read the full report, visit RentCafe.com here.