North Port, FL and Austin are issuing more multifamily permits than any other metros Redfin analyzed, while Stockton, CA and Bakersfield, CA are issuing the fewest
Developers obtained permits to build an average of 12.8 multifamily housing units for every 10,000 people in the U.S. over the past year, according to a new report from Redfin, the real estate brokerage powered by Rocket. That’s down 23.1% from an average of 16.7 during the pandemic building boom, and down 1.1% from an average of 13 in the years leading up to the pandemic.
This is according to a Redfin analysis of U.S. Census Bureau data covering building permits for multifamily units in buildings with five or more units. The most recent period (“the past year”) represents the average monthly value for July 2024-June 2025. The pandemic period represents the average across those same months in 2020-2023, and the pre-pandemic period represents the average across those months in 2014-2020…