Phoenix among most competitive apartment markets

Phoenix

PhoenixBy Jordyn Lee | Zillow

As fast as builders can put up new apartment buildings in Columbus, Ohio, renters are snapping them up. Zillow set out to find out which U.S. apartment markets are most competitive — where prices are rising and new units fly off the market. The Ohio state capital and college town topped our list.

To compile the list, Zillow looked at the share of rental apartments built in 2011 or after, the percent of new apartment units built in the last year that rented within three months of being built, and the rent appreciation of apartments over the past year. The Zillow economics team then crunched the numbers and found Columbus on top, followed by Seattle, with Denver and San Jose tied for third.

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