Tag Archive for ‘multifamily built for rent’

Multifamily Built-for-Rent Share: 96% of Starts

According to NAHB analysis of quarterly Census data, the market share of rental units of multifamily construction starts remained elevated at 96% during the first quarter of 2021. In contrast, the historical low share of 47% was set during the third quarter of 2005, during the condo building boom. An average share of 80% was registered during the 1980-2002 period…. Read More ›

Multifamily Built-for-Rent Share: 96%

According to NAHB analysis of quarterly Census data, the market share of rental units of total multifamily construction starts remained at 96% during the third quarter of 2020. In contrast, the historical low share of 47% was set during the third quarter of 2005, during the condo building boom. An average share of 80% was registered during the 1980-2002 period…. Read More ›

Smaller Multifamily Buildings Gain Market Share in 2019

Data from the 2019 Census Bureau Survey of Construction (SOC) show a gain for the number of multifamily units built in smaller properties, reversing a trend that favored larger buildings over recent years. The SOC differentiates between a “building” and a “unit”, with “unit” defined as an apartment, a group of rooms, or a single room intended for occupancy as… Read More ›

Multifamily Built-for-Rent: 94% Market Share During 1Q20

An elevated rental share of multifamily construction is holding typical apartment size below levels seen during the pre-Great Recession period. According to first quarter 2020 data, the average per unit square footage of multifamily housing construction starts was 1,086, off from the post-recession high set at the start of 2015 (1,247 square feet). The median was 1,031 square feet for… Read More ›

Multifamily Built-for-Rent: 94% Market Share

An elevated rental share of multifamily construction is holding typical apartment size below levels seen during the pre-Great Recession period. According to fourth quarter 2019 data, the average per unit square footage of multifamily housing construction starts was 1,074, off from the post-recession high set at the start of 2015 (1,247 square feet). The median was 1,053 square feet for… Read More ›

Multifamily Built-for-Rent: 93% Market Share

An elevated rental share of multifamily construction is holding typical apartment size below levels seen during the pre-Great Recession period. As multifamily developers build more for-sale housing units in the years ahead, the average size of multifamily homes is likely to rise. According to third quarter 2019 data, the average per unit square footage of multifamily housing construction starts was 1,133, off from… Read More ›

Multifamily Six-Year Streak of Gains Ended in 2018

For only the second year since the Great Recession, multifamily unit completions declined in 2018, according to NAHB analysis of the latest annual multifamily data from the Survey of Construction (SOC). As is typical, the number of multifamily units completed for rent exceeds the number of units completed for sale (92% rental share). In 2018, the number of units completed… Read More ›

Multifamily Construction Data: 2nd Quarter 2019

An elevated rental share of multifamily construction is holding typical apartment size below levels seen during the pre-Great Recession period. As multifamily developers build more for-sale housing units in the years ahead, the average size of multifamily homes is likely to rise. According to second quarter 2019 data, the average per unit square footage of multifamily housing construction starts was 1,103, off from… Read More ›