Landscape Architect Articles

Multifamily Completion Climb Near a Forty-Year High01-31-23 | 10

Multifamily Completion Climb Near a 40-Year High
Completions Reached 608,000 Units
by Rebecca Radtke, LCMP

Multifamily unit completions saw their highest level since 1986 in 2024 with 608,000 units.

In the South there were 292,000 completions in 2024 with 48%, the West had 27% with 163,000, the Midwest saw 87,000 or 14%, and the Northeast had 68,000 with 11%.

Further, according to the National Association of Home Builders (NAHB), of the multifamily completions 95% - or 580,000 units - were built for rental use and of those 55% were in high-density situations.