Number of multifamily building permits in the U.S. 2000-2023

In 2023, there were roughly 591,000 building permits for multifamily housing units granted in the United States. The number of housing authorized that year was lower than in 2022. Those were, nevertheless, higher figures than in 2020, when there were 492,000 multifamily housing permits authorized. Part of the reason for those low figures in 2020 might be the start of the COVID-19 pandemic. In contrast, there were nearly one million building permits for single-family housing units authorized in 2020. 

Multifamily housing projects on the increase

Multifamily homes refer to buildings that contain at least two housing units, including apartment buildings and duplexes. In 2022, building work had started on over half a million multifamily housing units in the United States – the highest number recorded in the past decades. However, it is expected that less multifamily housing units will be built in the coming years.

What are the trends in size of different properties?

One of the noticeable differences between multifamily and single-family housing is the size of the units. In 2021, the median size of a multifamily unit in the United States was over 1,000 square feet. In contrast, the median size of a single-family housing unit that same year was more than twice as large.