Looking at new units authorized by building permits in 2022—as tracked by the U.S. Census Bureau—researchers identified the states and metros building the most multi-family housing.
The state of the U.S. housing market has been one of the defining economic stories of the past two and a half years. Since the beginning of the COVID-19 pandemic, housing has become more expensive for both buyers and renters. Despite recent price drops, both home prices and rental prices remain roughly 30% higher than before the pandemic.
New Residential Building Permits by Size of StructureThe percentage of new housing in multi-family structures reached its highest level since 1985 In 2021, however, the total number of multi-family units authorized jumped from 491,700 to 621,700, which brought the share of multi-family units authorized from 33.4% to 35.8%. The following year, in 2022, the authorization of multi-family units continued to climb, reaching 689,500. Simultaneously, the number of authorized single-family units experienced its first decline since 2011. This resulted in a notable shift, with multi-family buildings accounting for 41.
Multi-family housing plays a crucial role in bolstering housing availability in states with substantial urban populations. Nationally, approximately 28% of the current housing stock falls under the multi-family category, although this figure exhibits significant regional disparities. New York State leads the pack with the highest proportion of existing homes classified as multi-family, standing at 52.5%, followed by Massachusetts , Rhode Island , Hawaii , and New Jersey .
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