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Aspen Lincoln

Aspen Lincoln apartments near 18th and Q streets are among the nearly $1 billion worth of new apartments built in Lincoln since 2000.

Journal Star file photo

Lincoln has likely added close to $1 billion in apartments since the start of the millennium, according to a recent report.

The report from apartment-finding website Apartment List found that $923 million was spent on multifamily construction in Lincoln from 2000-2016. That's an average of more than $54 million a year, a rate that would put the city over $1 billion some time in the next couple of months.

Lincoln's spending ranked it 121st overall out of 250 metropolitan areas included in the study. However, when spending was adjusted for population, Lincoln ranked 17th at $520 per person.

The report also found that the share of residential construction spent on apartments in Lincoln grew from 10 percent in 2000 to 31 percent in 2016.

Omaha's total apartment spending during the time period was $2.2 million, according to the report, and it ranked 80th in per-capita spending.

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Business editor/reporter

Matt Olberding is a Lincoln native and University of Nebraska-Lincoln graduate who has been covering business for the Journal Star since 2005.

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