Quick Facts: New Construction - NMHC - National Multi Housing Council

Economic Impact

Apartment construction in 2011 generated:

$14.8 billion in direct spending
$42.5 billion in economic contribution
323,000 jobs

To see the impact of construction by number of units for the U.S. and individual states, as well as the impact of operations and renter spending, use NMHC’s “Apartment Community Estimator” calculator.

Source: National Apartment Association and National Multi Housing Council, “The Trillion Dollar Apartment Industry”

State Distribution of New Apartment Construction in 2011 Housing Units Authorized by Building Permits (5+ units in structure; includes units for owner occupancy)
State	Number of Apartments	Total Value (thousands of dollars)
Alabama	2,687	187,942
Alaska	120	18,473
Arizona	2,532	258,069
Arkansas	2,140	123,549
California	22,340	3,322,330
Colorado	4,386	377,192
Connecticut	763	65,740
Delaware	358	33,547
District of Columbia	4,285	553,982
Florida	9,680	919,177
Georgia	4,428	338,009
Hawaii	1,090	138,275
Idaho	432	36,214
Illinois	4,324	474,933
Indiana	2,783	188,092
Iowa	1,342	105,704
Kansas	1,522	114,898
Kentucky	2,317	107,770
Louisiana	1,545	134,901
Maine	395	21,250
Maryland	4,930	480,752
Massachusetts	2,483	342,899
Michigan	1,160	87,390
Minnesota	1,934	200,066
Mississippi	660	54,238
Missouri	2,037	147,259
Montana	508	28,367
Nebraska	1,395	78,320
Nevada	1,401	81,261
New Hampshire	473	45,391
New Jersey	5,864	557,041
New Mexico	348	28,571
New York	11,978	1,097,044
North Carolina	7,247	498,388
North Dakota	3,115	257,171
Ohio	3,769	237,698
Oklahoma	1,986	126,647
Oregon	2,518	252,418
Pennsylvania	2,312	208,887
Rhode Island	6	500
South Carolina	2,579	176,302
South Dakota	707	54,104
Tennessee	2,838	239,780
Texas	30,417	2,058,454
Utah	2,835	204,398
Vermont	377	32,837
Virginia	7,491	501,319
Washington	7,039	781,816
West Virginia	518	30,602
Wisconsin	2,993	220,333
Wyoming	622	44,826
Total	184,009	16,675,127
Sources: http://www.census.gov/construction/bps/txt/tb2u2011.txt http://www.census.gov/construction/bps/txt/tb2v2011.txt Updated 5/2012

Multifamily Starts and Completions, 1992-2012 (5+ units in structure; includes units for owner occupancy)
Year	Number of Starts	Number of Completions
1992	139,000	158,000
1993	132,600	127,100
1994	223,500	154,900
1995	244,100	212,400
1996	270,800	251,300
1997	295,800	247,100
1998	302,900	273,900
1999	306,600	299,300
2000	299,100	304,700
2001	292,800	281,000
2002	307,900	288,200
2003	315,200	260,800
2004	303,000	286,900
2005	311,400	258,000
2006	292,800	284,200
2007	277,300	253,000
2008	266,000	277,200
2009	97,300	259,800
2010	104,300	146,500
2011	167,300	129,900
2012	233,900	157,600
Source: US Census Bureau, New Residential Construction. Updated 4/2013.

Low-Income Housing Tax Credit Construction Activity
Year	Total Construction Financed by Tax Credits	New Construction Financed by Tax Credits	Rehabilitation Financed by Tax Credits
1987	34,491	N/A	N/A
1988	81,408	N/A	N/A
1989	126,200	N/A	N/A
1990	74,029	N/A	N/A
1991	111,970	N/A	N/A
1992	91,300	52,080	39,220
1993	106,008	67,279	38,729
1994	117,099	73,832	43,267
1995	84,205	54,730	29,475
1996	77,003	48,514	28,489
1997	70,220	48,345	21,875
1998	69,091	48,142	20,949
1999	68,152	49,999	18,153
2000	65,892	47,154	18,738
2001	74,929	56,149	18,780
2002	69,311	50,419	18,892
2003	73,567	51,686	21,881
2004	76,326	46,220	21,566
2005	68,887	45,814	23,073
2006	74,392	50,949	23,443
2007	77,141	52,382	24,759
2008	83,062	54,105	28,954
2009	68,748	43,186	25,562
2010	73,572	47,697	25,875
Source: State HFA Factbook, published by the National Council of State Housing Agencies (ncsha.org). For 2004, the discrepancy between total construction and the sum of the two other categories reflects there were two states, Kentucky and Texas, for which categories were not assigned. Rehabilitation financed by tax credits for 2009 reflects numbers reported for substantial rehabilitation/acquisition. Updated with 2009 HFA Factbook figures on 7/21/2011.