In the Streeterville and River North neighborhoods of Chicago, just outside of the Chicago Loop, developers opened 2,927 new apartments over the year that ended in the second quarter 2018, according to Marcus & Millichap. Developers also have 3,360 new apartments under construction in these neighborhoods.

“Almost all of those are going to be high-rise units,” says John Sebree, director of the national multifamily housing group with Marcus & Millichap.

Apartment vacancy in the area averaged 5.7 percent and effective rents inched downwards in the second quarter, according to Marcus & Millichap.

Developers opened enough new apartments in downtown Denver over the year that ended in the second quarter 2018 to make it the third busiest neighborhood in the country for new construction, according to Marcus & Millichap, which counted 3,447 units in the downtown, Highlands and Lincoln Park neighborhood.

Reis also counted 995 new apartments in the main downtown area. That’s a 23.6 percent increase in local inventory, which makes the neighborhood the fourth busiest in the country for new apartment development, according to Reis.

Developers will be busy in central Denver for years to come, with 4,047 new apartments in some stage of the construction process. That’s an 11.5 percent increase to the inventory in the Five Points, Capitol Hill and Cherry Creek area as measured by RealPage, a provider of property management software and services.

In the suburbs sprawling far northwest of San Antonio, developers opened 2,692 new apartments over the year that ended in the second quarter of 2018, according to Marcus & Millichap. That makes Far Northwest San Antonio the fourth largest submarket in the U.S. for new construction during the period.

Apartment developers have returned to Houston, which has finally recovered from the shock of falling oil prices a few years ago that sent the apartment market into a tailspin.

Developers opened 2,473 new apartments in the River Oaks neighborhood and downtown Houston over the year that ended in the second quarter of 2018, according to Marcus & Millichap. That makes the neighborhoods the fifth biggest submarket in the U.S. for new apartment construction.

People who lost homes to Hurricane Harvey in 2017 helped fill the empty units. Apartment vacancy in Houston fell to 6.3 percent in the second quarter from 9.1 percent the year before, according to Marcus & Millichap. Improved job growth also helped fuel demand for apartments.