GITNUX MARKETDATA REPORT 2024

Must-Know Multifamily Housing Statistics [Current Data]

Statistic 1

"In 2020, there were approximately 349,000 multifamily housing starts in the United States."

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Statistic 2

"The U.S. multifamily housing market was valued at approximately $3.3 trillion in 2021."

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Statistic 3

"The median rent for a multifamily unit in the United States was $1,617 in 2021."

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Statistic 4

"Multifamily construction spending in the U.S. reached around $65 billion in 2019."

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Statistic 5

"In 2021, 39% of rental housing stock in the United States was in multifamily buildings."

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Statistic 6

"In the United States, 21.2% of multifamily housing completions in 2020 had five or more stories."

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Statistic 7

"The average vacancy rate for multifamily housing in the United States was 6.2% in 2021."

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Statistic 8

"In the decade between 2010-2019, one-third of newly built rental units in the U.S. were multifamily housing."

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Statistic 9

"The U.S. multifamily housing market experienced an annual investment of $157.4 billion in 2019."

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Statistic 10

"New York City had the largest multifamily housing market in 2021, with a net operating income of $31.5 billion."

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Statistic 11

"In 2021, Los Angeles had the second-largest multifamily housing market in the U.S. with a net operating income of $21.3 billion."

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Statistic 12

"Multifamily home sales made up 4.4% of all home sales in the United States in 2019."

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Statistic 13

"In 2020, the average size of a multifamily unit in the United States was 1,097 square feet."

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Statistic 14

"67% of U.S. multifamily housing buildings were built before 1980."

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Statistic 15

"In 2019, the multifamily housing sector received over $77.8 billion in total financing in the United States."

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