Multifamily Permits Increase in February

Filed in Economics, Multifamily by on April 16, 2021 1 Comment

Multifamily permits were robust across the country in February compared to last year, from a large gain in the West (22%) to a modest 5.4% increase in the Midwest.

multifamily permits data

Between February 2020 YTD and February 2021 YTD, 36 states and the District of Columbia recorded growth in multifamily permits, while 14 states recorded a decline. New Mexico saw a sharp rise (714.3%) in multifamily permits from 42 to 342, while Nebraska dropped 66.9% from 516 to 171. The 10 states issuing the highest number of multifamily permits combined accounted for 66.4% of the multifamily permits issued.

Here are top 10 metro areas that issued the highest number of multifamily permits:

Metropolitan Statistical Area Multifamily Permits: February
(Units # YTD, NSA)
New York-Newark-Jersey City, NY-NJ 7,122
Austin-Round Rock, TX 5,307
Los Angeles-Long Beach-Anaheim, CA 3,884
Washington-Arlington-Alexandria, DC- VA-MD-WV 3,494
Dallas-Fort Worth-Arlington, TX 3,432
Seattle-Tacoma-Bellevue, WA 3,431
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD 3,206
Phoenix-Mesa-Scottsdale, AZ 2,708
Minneapolis-St. Paul-Bloomington, MN-WI 2,698
Houston-The Woodlands-Sugar Land, TX 1,812

Danushka Nanayakkara-Skillington, NAHB assistant vice president for forecasting and analysis, provides more in this Eye on Housing post.

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