The downtown Madison apartment boom is in full swing, with hundreds of new units constructed each year. A question remains: When will the market hit saturation?
Downtown Madison, Inc.’s fourth annual State of the Downtown report paints a housing landscape with still-low vacancy rates, a large population of young renters and ongoing construction of new apartments, indicating that saturation isn't happening anytime soon.
Since 2011, single-family properties and duplexes have decreased, with the number of apartment and condo living units both increasing. About 1,000 new apartment units have been added over the past four years and, as of August, about 1,217 new residential units are under construction downtown.