The price of multifamily units under construction in the United States increased significantly more than that of single-family homes in 2023. While the price of single-family houses was nearly three percent higher than in the previous year, those figures amounted to five percent for multifamily residential units. The overall cost of construction materials in the U.S. increased noticeably in 2021 and 2022.
Annual price growth rate of housing under construction in the United States from 2006 to 2023, by type
The figures used correspond to the price deflator (fisher) index. The figures for single-family houses were directly obtained from the source. Meanwhile, for the figures for multifamily units Statista calculated as an average of the quarterly index values provided by the source. After that, Statista calculated the annual growth rate as follows.
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US Census Bureau, & Statista. (July 4, 2024). Annual price growth rate of housing under construction in the United States from 2006 to 2023, by type [Graph]. In Statista. Retrieved December 19, 2024, from https://www.statista.com/statistics/1388493/annual-price-growth-rate-of-housing-construction-us-by-type/
US Census Bureau, und Statista. "Annual price growth rate of housing under construction in the United States from 2006 to 2023, by type." Chart. July 4, 2024. Statista. Accessed December 19, 2024. https://www.statista.com/statistics/1388493/annual-price-growth-rate-of-housing-construction-us-by-type/
US Census Bureau, Statista. (2024). Annual price growth rate of housing under construction in the United States from 2006 to 2023, by type. Statista. Statista Inc.. Accessed: December 19, 2024. https://www.statista.com/statistics/1388493/annual-price-growth-rate-of-housing-construction-us-by-type/
US Census Bureau, and Statista. "Annual Price Growth Rate of Housing under Construction in The United States from 2006 to 2023, by Type." Statista, Statista Inc., 4 Jul 2024, https://www.statista.com/statistics/1388493/annual-price-growth-rate-of-housing-construction-us-by-type/
US Census Bureau & Statista, Annual price growth rate of housing under construction in the United States from 2006 to 2023, by type Statista, https://www.statista.com/statistics/1388493/annual-price-growth-rate-of-housing-construction-us-by-type/ (last visited December 19, 2024)
Annual price growth rate of housing under construction in the United States from 2006 to 2023, by type [Graph], US Census Bureau, & Statista, July 4, 2024. [Online]. Available: https://www.statista.com/statistics/1388493/annual-price-growth-rate-of-housing-construction-us-by-type/
