FAQs

How is the average length of time to complete construction of a multifamily building calculated?

The average length of time to complete construction of a multifamily building is calculated by taking the total time taken to build all multifamily buildings in a specific year and dividing it by the total number of buildings constructed in that year.

What factors contribute to the longer construction time for multifamily buildings?

The longer construction time for multifamily buildings can be attributed to the ongoing skilled labor shortage and supply chain issues in the construction industry. These challenges can delay the construction process and increase the overall time required to complete a building.

Which region had the longest average construction duration for multifamily buildings in 2023?

In 2023, the West had the longest average construction duration for multifamily buildings at 20.9 months. This was followed by the Northeast at 20.8 months, the South at 19.5 months, and the Midwest at 17.3 months.

Conclusion

The 2023 Survey of Construction data highlights the average length of time required to complete construction of multifamily buildings in the United States. The construction process for multifamily buildings can vary based on the number of units in the building and the region where it is being constructed. Factors such as skilled labor shortages and supply chain issues continue to pose challenges for the industry, leading to longer construction times. Understanding these trends can help developers, builders, and policymakers plan and strategize for future multifamily construction projects.