The multifamily housing market in the United States is an important part of the country's economy. In this blog post, we will be exploring some key statistics about multifamily housing in the U.S., including information on starts, value, rent prices, construction spending and vacancy rates. We'll also look at data related to new residential construction and sales volume for multifamily properties as well as energy efficiency features and subsidized units. Finally, we'll examine which cities have the largest markets for multifamily housing and how many renter households are living in these buildings across America today.
Multifamily Housing Statistics Overview
The median rent for a multifamily unit in the United States was $1,617 in 2021.
This statistic is a crucial indicator of the current state of multifamily housing in the United States. It provides a snapshot of the average rent for a multifamily unit, which can be used to compare the cost of living in different areas and to track changes in the rental market over time. By understanding the median rent for multifamily units, readers of the blog post can gain a better understanding of the current state of multifamily housing in the United States.
Multifamily construction spending in the U.S. reached around $65 billion in 2019.
This statistic is a testament to the growing demand for multifamily housing in the U.S. It shows that the market is thriving and that more people are investing in multifamily housing. This is an important indicator of the health of the multifamily housing market and provides valuable insight into the current trends in the industry.
In 2021, 39% of rental housing stock in the United States was in multifamily buildings.
This statistic is a telling indication of the prevalence of multifamily housing in the United States. It demonstrates that a significant portion of the rental housing stock is comprised of multifamily buildings, highlighting the importance of this type of housing in the country.
In the United States, 21.2% of multifamily housing completions in 2020 had five or more stories.
This statistic is a telling indication of the current state of multifamily housing in the United States. It reveals that a significant portion of multifamily housing completions in 2020 were of a larger scale, with five or more stories. This suggests that the demand for multifamily housing is on the rise, and that developers are responding to this demand by constructing larger, more complex buildings. This is an important insight for anyone interested in the multifamily housing market, as it provides a glimpse into the current trends and future prospects of the industry.
The average vacancy rate for multifamily housing in the United States was 6.2% in 2021.
This statistic is a key indicator of the health of the multifamily housing market in the United States. It provides insight into the availability of rental units, the demand for rental units, and the overall stability of the market. By understanding the vacancy rate, investors and developers can make informed decisions about where to invest and how to price their units. Additionally, this statistic can be used to measure the success of government policies and initiatives aimed at increasing the availability of affordable housing.
In the decade between 2010-2019, one-third of newly built rental units in the U.S. were multifamily housing.
This statistic is a testament to the growing popularity of multifamily housing in the U.S. over the past decade. It shows that more and more people are choosing to live in multifamily housing, which is a trend that is likely to continue in the future. This statistic is important to consider when discussing the multifamily housing market, as it provides insight into the current state of the market and the potential for growth in the future.
The U.S. multifamily housing market experienced an annual investment of $157.4 billion in 2019.
This statistic is a testament to the strength of the U.S. multifamily housing market in 2019. It shows that investors are confident in the market and are willing to put their money into it. This is an important indicator of the health of the multifamily housing market and can be used to inform decisions about investing in the sector. It is also a useful benchmark for comparing the performance of the multifamily housing market in different years.
New York City had the largest multifamily housing market in 2021, with a net operating income of $31.5 billion.
This statistic is a testament to the immense size and success of the multifamily housing market in New York City. It highlights the fact that the city is a major player in the multifamily housing industry, and that it is a lucrative investment opportunity for those looking to invest in the sector. This statistic is a great example of the potential of multifamily housing and serves as a reminder of the importance of this sector in the real estate market.
In 2021, Los Angeles had the second-largest multifamily housing market in the U.S. with a net operating income of $21.3 billion.
This statistic is a testament to the strength of the multifamily housing market in Los Angeles. It demonstrates that the city is a major player in the U.S. housing market, with a net operating income of $21.3 billion in 2021. This figure is indicative of the city's ability to attract and retain tenants, as well as its potential for growth in the future. This statistic is an important piece of information for anyone interested in the multifamily housing market, as it provides insight into the current state of the market and its potential for future success.
Multifamily home sales made up 4.4% of all home sales in the United States in 2019.
This statistic is a telling indication of the growing demand for multifamily homes in the United States. It shows that despite the fact that single-family homes still dominate the housing market, there is a growing interest in multifamily homes. This could be due to the fact that multifamily homes offer more space and amenities than single-family homes, making them attractive to buyers. Furthermore, this statistic could also be indicative of the increasing trend of people choosing to rent rather than buy, as multifamily homes are often rented out. This statistic is an important indicator of the current state of the multifamily housing market and provides valuable insight into the future of the industry.
In 2020, the average size of a multifamily unit in the United States was 1,097 square feet.
This statistic is an important indicator of the current state of multifamily housing in the United States. It provides insight into the size of the average multifamily unit, which can be used to compare with other countries and to track changes in the size of multifamily units over time. This information can be used to inform decisions about the design and construction of multifamily housing, as well as to assess the impact of zoning and other regulations on the availability of multifamily housing. Additionally, this statistic can be used to evaluate the affordability of multifamily housing, as larger units tend to be more expensive.
67% of U.S. multifamily housing buildings were built before 1980.
This statistic is significant in the context of multifamily housing statistics because it highlights the age of the majority of multifamily housing buildings in the United States. This is important to consider when discussing the state of multifamily housing in the country, as older buildings may require more maintenance and repairs, and may not be up to modern standards. Additionally, this statistic can be used to compare the age of multifamily housing buildings in the United States to those in other countries.
In 2019, the multifamily housing sector received over $77.8 billion in total financing in the United States.
This statistic is a testament to the immense popularity of multifamily housing in the United States. It shows that the sector is thriving and that investors are willing to put their money into it. This is a great sign for the industry and indicates that it is a safe and profitable investment. It also shows that the sector is growing and that more people are choosing to live in multifamily housing. This is an important statistic to consider when discussing the multifamily housing sector and its future prospects.
Conclusion
The multifamily housing market in the United States is a thriving industry, with an estimated value of $3.3 trillion and rental units making up 39% of all rental stock in 2021. In 2020, there were 349,000 multifamily housing starts across the country and construction spending reached around $65 billion that same year. The median rent for a unit was approximately $1,617 while vacancy rates hovered at 6.2%. Multifamily homes accounted for 25% of new residential construction in 2020 and one-third of newly built rentals between 2010-2019 were multifamily dwellings.
New York City had the largest U.S.-based multifamily housing market by net operating income ($31.5 billion) followed closely by Los Angeles ($21.3 billion). Multifamily home sales made up 4
References
0. - https://www.fred.stlouisfed.org
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2. - https://www.pewresearch.org
3. - https://www.nahbclassic.org
4. - https://www.multihousingnews.com
5. - https://www.bea.gov
6. - https://www.mckinsey.com
7. - https://www.statista.com
8. - https://www.bisnow.com
9. - https://www.deptofnumbers.com
