Which Housing Markets Are Growing the Fastest?

Filed in Economics, Multifamily by on October 21, 2021 0 Comments

Home building has staged a slow, modest recovery over the last decade, following the Great Recession, with an accelerated uptick last year during the COVID-19 pandemic. Increased building activity can been seen in both the single-family and multifamily sectors, based on data for permits from the U.S. Census Bureau.

In 2020, builders applied for 979,360 single-family permits — a 134% increase over 2011 (418,498 permits). For multifamily construction, 491,781 permits were issued in 2020 — a 139% increase over 2011.

The following tables highlight the top markets for this growth in each sector.

Metropolitan Statistical Area Total Single-family Permits (Units #): 2011-2020
Houston-The Woodlands-Sugar Land, TX 363,067
Dallas-Fort Worth-Arlington, TX 292,219
Atlanta-Sandy Springs-Roswell, GA 196,745
Phoenix-Mesa-Scottsdale, AZ 179,479
Austin-Round Rock, TX 135,181
Charlotte-Concord-Gastonia, NC-SC 129,832
Washington-Arlington-Alexandria, DC-VA-MD-WV 127,967
Orlando-Kissimmee-Sanford, FL 118,372
Nashville-Davidson–Murfreesboro–Franklin, TN 108,311
Tampa-St. Petersburg-Clearwater, FL 103,117
New York-Newark-Jersey City, NY-NJ-PA 97,224
Raleigh, NC 90,779
Denver-Aurora-Lakewood, CO 88,937
Seattle-Tacoma-Bellevue, WA 86,362
Riverside-San Bernardino-Ontario, CA 84,803
Los Angeles-Long Beach-Anaheim, CA 82,350
Jacksonville, FL 81,635
Las Vegas-Henderson-Paradise, NV 80,024
Minneapolis-St. Paul-Bloomington, MN-WI 75,800
Chicago-Naperville-Elgin, IL-IN-WI 73,177

 

Metropolitan Statistical Area Total Multifamily Permits (Units #): 2011-2020
New York-Newark-Jersey City, NY-NJ-PA 377,761
Dallas-Fort Worth-Arlington, TX 217,621
Los Angeles-Long Beach-Anaheim, CA 185,732
Houston-The Woodlands-Sugar Land, TX 162,545
Seattle-Tacoma-Bellevue, WA 139,659
Washington-Arlington-Alexandria, DC-VA-MD-WV 117,474
Miami-Fort Lauderdale-West Palm Beach, FL 115,762
Austin-Round Rock, TX 111,636
Denver-Aurora-Lakewood, CO 86,515
San Francisco-Oakland-Hayward, CA 84,001
Atlanta-Sandy Springs-Roswell, GA 82,492
Phoenix-Mesa-Scottsdale, AZ 80,379
Chicago-Naperville-Elgin, IL-IN-WI 79,726
Boston-Cambridge-Newton, MA-NH 79,408
Orlando-Kissimmee-Sanford, FL 72,461
Minneapolis-St. Paul-Bloomington, MN-WI 68,306
Charlotte-Concord-Gastonia, NC-SC 66,560
Portland-Vancouver-Hillsboro, OR-WA 64,612
Nashville-Davidson–Murfreesboro–Franklin, TN 60,709
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD 59,271

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

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