Number of multifamily building permits in the U.S. 2000-2024

In 2024, there were roughly ******* building permits for multifamily housing units granted in the United States. The number of housing authorized that year was lower than in previous years, given that multifamily housing permits have fallen two years in a row. In contrast, the number of building permits for single-family housing units did not have such a sharp decrease.

Multifamily housing projects on the increase

Multifamily homes refer to buildings that contain at least two housing units, including apartment buildings and duplexes. In 2022, building work had started on over **** a million multifamily housing units in the United States – the highest number recorded in the past decades, but those numbers have fallen significantly in the years after that. However, it is expected that multifamily housing starts will grow again in 2025.

What are the trends in size of different properties?

One of the noticeable differences between multifamily and single-family housing is the size of the units. In 2023, the median size of a multifamily unit in the United States was over ***** square feet. In contrast, the median size of a single-family housing unit that same year was well over ***** as large.