US Multifamily Building Permits Jump More Than 28% This Year

The number of permits issued for multifamily buildings across the United States in August rose to 57,207 units, the highest figure reported since June 2015 and up 20 percent from July. On a year-to-date basis through August, the number of multifamily permits issued nationally climbed to 358,003 this year from the first eight months of 2020.

Multifamily permits increased in all four regions of the country in 2021, based on year-to-date figures through August. The West saw a jump of 35.3%, followed by the Northeast at 28.7%, the South at 25.4% and the Midwest’s increase of 25.2%.

When comparing year-to-date figures through August 2021 with the first eight months of 2020, 37 states reported growth in multifamily permits, while 14 states and the District of Columbia recorded a decline.

On that same basis, New Mexico had a sharp rise of 231.4% in multifamily permits, climbing to 1,723 from 520, while Hawaii had the largest decline at 61.09%, falling to 604 from 235. And the 10 states with the highest number of multifamily permits combined accounted for 65.17% of the total multifamily permits issued in the first eight months of 2021.

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