flexiblefullpage - default
Currently Reading

Multifamily Rental Development Surged During Q2 2022

Advertisement
billboard - default
Multifamily

Multifamily Rental Development Surged During Q2 2022

Multifamily, for-rent housing starts are rising at the fastest pace since 1986


August 23, 2022
Red and tan multifamily apartment buildings
Image: Stock.adobe.com

Roughly 142,000 multifamily, for-rent housing units were started during the second quarter of 2022, making it the largest quarter for multifamily construction since Q2 1986, NAHB Eye on Housing reports. The total market share of rental units in new multifamily construction projects rose to 96%, a stark contrast to the historical low share of 47% set during the third quarter of 2005. New multifamily construction starts are averaging 1,057 square feet, a level downsized from slightly larger floor plans seen during the pre-Great Recession period. 

According to NAHB analysis of quarterly Census data, the count of multifamily, for-rent housing starts surged during the second quarter of 2022. At 142,000 units started, this was the largest quarter for rental multifamily construction since the second quarter of 1986.

For the second quarter, there were just 7,000 multifamily condo construction starts.

Read more

Related Stories

Multifamily

Supply Chain Bottlenecks, Rising Interest Rates Hinder New Construction

Unyielding supply chain challenges continued to slow single-family construction in August, but multifamily production surged

Multifamily

Missing Middle Construction Sector Posted Slight Gains in Q2 2022

Medium-density multifamily housing development ticked slightly higher in the second quarter of 2022 after a year of stagnant growth

Multifamily

Empty Office Spaces Offer Adaptive Reuse Solution to Boost Housing Supply

In an ever-growing housing shortage, developers are turning to abandoned work spaces to create affordable multifamily units

Advertisement
boombox1 -
Advertisement
native1 - default
halfpage2 -

More in Category




Advertisement
native2 - default
Advertisement
halfpage1 -

Create an account

By creating an account, you agree to Pro Builder's terms of service and privacy policy.


Daily Feed Newsletter

Get Pro Builder in your inbox

Each day, Pro Builder's editors assemble the latest breaking industry news, hottest trends, and most relevant research, delivered to your inbox.

Save the stories you care about

Lorem ipsum dolor sit amet lorem ipsum dolor sit amet lorem ipsum dolor sit amet.

The bookmark icon allows you to save any story to your account to read it later
Tap it once to save, and tap it again to unsave

It looks like you’re using an ad-blocker!

Pro Builder is an advertisting supported site and we noticed you have ad-blocking enabled in your browser. There are two ways you can keep reading:

Disable your ad-blocker
Disable now
Subscribe to Pro Builder
Subscribe
Already a member? Sign in
Become a Member

Subscribe to Pro Builder for unlimited access

Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.