According to the NAHB, the average per unit square footage of multifamily housing construction starts was 1,238, a post-recession high.
“The typical size of newly built multifamily units remains below the averages/medians recorded during the boom years, when the share of for-sale multifamily was considerably higher,” writes NAHB economist Robert Dietz.
“The share of multifamily housing starts built for-rent fell to a historical low of 47 percent during the third quarter of 2005,” he adds. “It is currently 96 percent above the approximate 80 percent share recorded during the 1980-2002 period due to the ongoing surge in rental demand.”
