Multifamily permits were robust across the country in February compared to last year, from a large gain in the West (22%) to a modest 5.4% increase in the Midwest.
Between February 2020 YTD and February 2021 YTD, 36 states and the District of Columbia recorded growth in multifamily permits, while 14 states recorded a decline.
New Mexico saw a sharp rise (714.3%) in multifamily permits from 42 to 342, while Nebraska dropped 66.9% from 516 to 171. The 10 states issuing the highest number of multifamily permits combined accounted for 66.4% of the multifamily permits issued.
Here are top 10 metro areas that issued the highest number of multifamily permits:
|Metropolitan Statistical Area||Multifamily Permits: February (Units # YTD, NSA)|
|New York-Newark-Jersey City, NY-NJ||7,122|
|Austin-Round Rock, TX||5,307|
|Los Angeles-Long Beach-Anaheim, CA||3,884|
|Washington-Arlington-Alexandria, DC- VA-MD-WV||3,494|
|Dallas-Fort Worth-Arlington, TX||3,432|
|Minneapolis-St. Paul-Bloomington, MN-WI||2,698|
|Houston-The Woodlands-Sugar Land, TX||1,812|
NAHB economist Danushka Nanayakkara-Skillington provides more detail in this Eye on Housing post.