Residential Skyscrapers Gaining Popularity at Accelerated Rate in U.S.

According to new data from Yardi Matrix, the number of apartment skyscrapers in the U.S. are much more common today than they were three decades ago. From only 8 in the '90s to a skyrocketing 68 in the '10s, residential skyscrapers are fast becoming popular across the country. Between the '00s and the '10s, their number almost doubled. With demand for apartments strong across the country, combined with the scarcity and value of land sharply increasing, developers in urban areas are looking upwards in their quest to providing a healthy supply of residential units. Thirty years ago, in the '90s, the average apartment building in the U.S. had 3 floors, the following decade the average height was around 4 stories, and this decade, with a boost in high-rise construction, the average building height rose to 6 floors.