Source: Hoyt Advisory Services, National Apartment Association and National Multifamily Housing Council, “The Contribution of Multifamily Housing to the U.S. Economy”
State Distribution of New Apartment Construction in 2018
State
Number of Apartments
Total Value (000s)
Alabama
1,598
$252,766
Alaska
279
$44,620
Arizona
8,627
$1,270,438
Arkansas
2,050
$204,659
California
50,031
$9,130,926
Colorado
15,705
$2,202,245
Connecticut
2,095
$234,264
Delaware
308
$27,253
District of Columbia
4,463
$487,052
Florida
44,308
$5,642,227
Georgia
16,490
$2,000,407
Hawaii
1,969
$394,030
Idaho
2,946
$307,287
Illinois
10,222
$1,189,807
Indiana
4,603
$555,144
Iowa
3,591
$368,151
Kansas
3,213
$395,004
Kentucky
5,588
$534,863
Louisiana
1,697
$233,173
Maine
863
$90,224
Maryland
5,573
$795,218
Massachusetts
8,841
$1,620,497
Michigan
3,229
$398,242
Minnesota
11,706
$1,899,401
Mississippi
585
$41,787
Missouri
4,571
$401,790
Montana
1,180
$117,394
Nebraska
2,702
$199,911
Nevada
4,556
$424,723
New Hampshire
1,464
$134,326
New Jersey
16,100
$1,885,497
New Mexico
383
$25,859
New York
25,814
$3,468,914
North Carolina
19,712
$1,911,988
North Dakota
1,241
$131,692
Ohio
6,827
$721,917
Oklahoma
681
$62,809
Oregon
8,297
$1,068,607
Pennsylvania
6,614
$903,577
Rhode Island
199
$18,839
South Carolina
4,774
$391,674
South Dakota
1,750
$182,679
Tennessee
8,582
$760,356
Texas
63,053
$6,647,360
Utah
5,668
$715,049
Vermont
808
$83,601
Virginia
9,916
$972,562
Washington
21,659
$2,421,181
West Virginia
456
$40,499
Wisconsin
6,043
$631,928
Wyoming
169
$16,931
Total
433,799
$54,661,352
Source: US Census Bureau, Building Permits Survey. Updated August 2019
Multifamily Starts and Completions, 1993-2018 (5+ units in structure; includes units for owner occupancy)
Year
Number of Starts
Number of Completions
Number of Permits
1993
132,600
127,100
160,156
1994
223,500
154,900
240,980
1995
244,100
212,400
271,525
1996
270,800
251,300
290,306
1997
295,800
247,100
310,302
1998
302,900
273,900
355,466
1999
306,600
299,300
351,108
2000
299,100
304,700
329,283
2001
292,800
281,000
335,154
2002
307,900
288,200
341,397
2003
315,200
260,800
345,814
2004
303,000
286,900
366,248
2005
311,400
258,000
389,334
2006
292,800
284,200
384,079
2007
277,300
253,000
358,964
2008
266,000
277,200
295,400
2009
97,300
259,800
121,125
2010
104,300
146,500
135,318
2011
167,300
129,900
184,009
2012
233,900
157,600
285,062
2013
293,700
186,200
341,050
2014
341,700
255,600
381,953
2015
385,800
310,300
454,507
2016
380,800
311,000
421,064
2017
342,700
346,900
424,806
2018
360,300
335,600
427,400
Source: US Census Bureau, New Residential Construction.Updated May 2019
Low-Income Housing Tax Credit Construction Activity
9% Credit
4%/Tax Exempt Bond Credit
Total
Year
New Construction
Rehab
Total
New Construction
Rehab
Total
New Construction
Rehab
Total
1987
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
34,491
1988
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
81,408
1989
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
126,200
1990
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
74,029
1991
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
111,970
1992
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
91,300
1993
68,105
40,204
108,309
N/A
N/A
2,658
N/A
N/A
110,967
1994
75,433
44,242
119,675
N/A
N/A
N/A
N/A
N/A
119,675
1995
55,807
30,291
88,843
4,606
5,906
10,512
60,413
36,197
99,355
1996
50,251
29,252
79,503
7,878
7,325
15,203
58,129
36,577
94,706
1997
50,301
22,776
73,077
9,978
8,997
18,975
60,279
31,773
92,052
1998
51,162
21,914
73,076
16,573
13,466
30,039
67,735
35,380
103,115
1999
49,999
18,153
68,152
22,374
17,832
40,206
72,373
35,985
108,358
2000
47,154
18,738
65,892
32,962
19,308
54,048
80,116
38,046
119,940
2001
55,370
18,520
74,929
28,254
26,962
55,216
83,624
45,482
130,145
2002
53,790
20,273
74,063
35,847
25,523
61,370
89,637
45,796
135,433
2003
54,819
22,962
78,505
38,878
23,728
62,606
93,697
46,690
141,111
2004
48,299
22,251
79,923
37,340
28,732
70,260
85,639
50,983
150,183
2005
49,010
23,805
73,178
34,361
34,847
69,218
83,371
58,652
142,396
2006
50,949
23,443
74,392
30,435
34,968
65,403
81,384
58,411
139,795
2007
52,382
24,759
77,141
28,829
40,283
69,112
81,211
65,042
146,253
2008
54,105
28,954
83,062
22,206
37,548
59,754
76,311
66,502
142,816
2009
43,186
25,562
68,748
16,802
27,316
44,118
59,988
52,878
112,866
2010
38,367
15,448
58,890
12,033
24,391
36,424
50,400
39,839
95,314
2011
29,339
20,982
50,321
17,273
26,358
43,631
46,612
47,340
93,952
2012
33,583
23,800
57,383
10,222
30,970
41,192
43,805
54,770
98,575
2013
36,602
20,099
56,701
15,290
32,901
48,191
51,892
53,000
104,892
2014
39,143
21,409
60,552
12,203
26,538
38,741
51,346
47,947
99,293
Notes: Totals for 1987 through 1994 do not include 4%/tax exempt bond credits and only low-income units. Totals for 9% credits from 2009 through 2014 do not include units built/repaired in that current year that received allocations in previous years. Source: National Council of State Housing Agencies, Novogradac & Co. Updated 12/2016.
