According to a new report from RentCafe, the pipeline for new apartments in old office spaces is growing and the top ten U.S. metro areas with the most office-to-apartment conversions in progress are: (1) New York City; (2) Washington, D.C.; (3) Los Angeles; (4) Chicago; (5) Dallas; (6) Atlanta; (7) Minneapolis; (8) Charlotte, NC; (9) Cincinnati; and (10) Kansas City, MO. The report also found that developers completed less than 7% of office-to-apartment units underway in 2024, pushing most into 2025.
