NY Metro Leads US in Building Most Multifamily Homes Multifamily Units Make Up Nearly 80% of New Housing

NY Metro Leads US in Building Most Multifamily Homes

According to a new report on multifamily housing in the United States, 41.4% of new housing units authorized across the country as a whole in 2022 were multifamily, marking the highest level since 1985.

The report, commissioned by construction consulting and risk management firm Construction Coverage, looked at new units authorized by building permits in 2022 as tracked by the U.S. Census Bureau and identified the states and metros building the most multifamily housing.

New York Metro Leads the Pack

The analysis found that 79.3% of the new housing units authorized in the NY metro area were multifamily. In fact, the NY metro is building the largest proportion of multifamily housing out of all large U.S. metropolitan areas.

The original report includes data on more than 350 metros, broken down by size cohort, and all 50 states. Here is a summary of the rest of the data for the New York-Newark-Jersey City, NY-NJ-PA metro:

  • Share of new housing units authorized in multi-family structures: 79.3%
  • Share of existing housing units in multi-family structures: 57.4%
  • Total new housing units authorized in multi-family structures: 46,323
  • Total new housing units in structures with 2 units: 1,342
  • Total new housing units in structures with 3–4 units: 733
  • Total new housing units in structures with 5+ units: 44,248
  • Total new single-family units: 12,089

Here are the statistics for the entire United States:

  • Share of new housing units authorized in multi-family structures: 41.4%
  • Share of existing housing units in multi-family structures: 28.4%
  • Total new housing units authorized in multi-family structures: 689,504
  • Total new housing units in structures with 2 units: 31,626
  • Total new housing units in structures with 3–4 units: 23,205
  • Total new housing units in structures with 5+ units: 634,673
  • Total new single-family units: 975,584

You can access the entire report here

Related Articles

Real estate developer and managing property investment concept. Selective focus wooden houses with question mark on wood table

Another Year of Modest Growth for U.S. Condos & HOAs in 2024

CAI Housing Experts Weigh In

Arrow showing oscillation, fluctuation or stagnation. Economic crisis, persistence and progress concept. Flat design. EPS 8 vector illustration, no transparency, no gradients

New York Co-op & Condo Sales in Gridlock - for Now

High Interest Rates the Main Culprit

Line graph showing home sales prices from 2014 through 2022, illustrating a huge spike in 2020, correlating with the COVID pandemic, with a sharp drop-off in early 2022

NYC Ranks 4th Lowest on 'Hottest Real Estate Markets of 2022' List

Residential Market Cooling After Pandemic Spike

hard to buy a house. rising property, real estate market

The Growing Housing Crisis

'No Easy Answers,' Says NHC Head

flip 2022 to 2023 block with house model. real estate, Home loan, tax, investment, financial, savings and New Year Resolution concepts

End-of-Year Unit Sales

Some Advice from the Pros

Line graph showing decreasing supply of US homes by year from 2012 to 2022

Study Shows NYC Has Highest Home Inventory in US

Time on Market Also x3 the National Average