Analyzing the data for 2022 reveals intriguing trends. States already accustomed to multi-family housing, such as New York, Massachusetts, and New Jersey, witnessed significant upticks in authorizations, surpassing 60% of the total in these states, with New York leading at nearly 74%. Moreover, in nearly all states, the percentage of new housing units categorized as multi-family exceeded that of the existing housing stock.
One of the most remarkable developments is the surge in multi-family home construction in unexpected regions. Midwestern and Western states, which have typically maintained average or below-average concentrations of multi-family housing, now boast proportions of newly authorized multi-family units exceeding 50%. States like South Dakota, Washington, Minnesota, Nebraska, Colorado, and Montana have all crossed this threshold.
Local trends echo these patterns, with densely populated coastal cities and key Midwest and Western areas leading the charge in multi-family development. There are exceptions in Florida, Texas, and Georgia, but generally, southern cities report the lowest rates of new multi-family housing due to lower demand and home prices compared to other regions.