Multifamily Development Year-End 2016 | Arbor
Year-end data released by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development on new residential construction, including data for multifamily buildings (classified as structures with five or more units), showed that multifamily development continued its strong run during 2016.
Multifamily Building Permits
Authorizations of privately-owned residential housing units in the United States in buildings with five units or more were at a rate of 410,500 units at the end of 2016, down from 454,500 units at the end of 2015, and representing 35% of the total housing permits issued. The 2015 total was the highest year-end total since 656,600 units in 1987.