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One-Bedroom Apartments Rise in Total Construction Share
October 22, 2015
Multifamily construction continues to show strength, and the typical unit size today remains below levels during the housing boom, the NAHB reports.
A driving force of the smaller average is the market share increase of one-bedroom apartments.
According to the NAHB's analysis of Census Survey of Construction data, "the market share of multifamily completions of units with two or more bedrooms reached a data series low in 2014,” the report says. “For 2014, 53% of new multifamily units placed into service possessed two or more bedrooms, down from 69% ten years ago. Except for a brief rise during 2011 and 2012, the market share of larger units (as measured by number of bedrooms) has been declining since 2005.”
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