Five of the top six submarkets for new apartment supply this year are classified as urban, and a majority of their residents have white-collar jobs, according to Axiometrics and U.S. Census data.
The five top urban submarkets for new apartment supply in 2016 are Atlanta/Fulton, Georgia; Kings County (Brooklyn), New York; Downtown/West End/Green Hills in Nashville, Tennessee; Montrose/River Oaks in Houston; and Downtown/Capitol Hill/Queen Anne in Seattle.
More than half of residents in the submarkets of Atlanta, Nashville, Houston and Seattle are employed in the Management, Business, Science and Arts Occupations job category, according to census data. Only Brooklyn doesnt hit the majority mark for this category, coming in at 40.2 percent. The second most common job area in the submarkets of Atlanta, Nashville, Houston and Seattle is the white-collar Sales and Office Occupations.
Among these top five new supply urban submarkets, the Houston submarket has the highest concentration of white-collar jobs among its residents94.9 percent.
Brooklyn has a higher concentration of service and blue-collar workers than the other submarkets.