Multifamily permitting is generally trending down across the country, but housing production is ramping up in some markets. Six of the top 10 markets for multifamily permitting analyzed by RealPage in July increased their annual total of units from last year.
Dallas led this trend, with 4,566 more units this July versus the same month a year ago. The market recorded 17,684 units permitted during the month. In fact, Dallas has seen an annual permitting increase every month from November 2024, when the number stood at 12,600 units, despite slowing employment growth.
RealPage noted Dallas has led the nation for apartment completions since mid-2024 and has been a top market for new construction throughout the years. The recent upswing in permitting suggests Dallas may be on the cusp of a rising supply cycle, the report said.
Permitting was also up significantly in the Orlando metro at 44%, as well as in Newark and Columbus, both up about 33% and Houston up 28%. In Miami, the category was up 10%.
The New York metro saw the most permits issued for the year ending in July at 24,160 units, but that represented a decrease in the annual figure by 16%. Big falls also occurred in Phoenix (28%), Austin (38%) and Atlanta (3%), although these markets remained in the top 10 by number of units permitted.
The total number across the country reached 134,500 units, virtually unchanged from last year and up 1.5% from June’s total, according to RealPage.
Markets outside the top 10 that saw significant year-over-year increases include Chicago, up 2,489 units; Detroit, up 1,940 units; Bridgeport, Connecticut, up 1,902 units; Fayetteville, Arkansas, up 1,761 units; and Savannah, Georgia, up 1,300 units. Markets with significant decreases were Washington, D.C., down 3,621 units; Tampa, down 3,290 units; Los Angeles, down 2,796 units; Greensboro, North Carolina, down 2,388 units; San Jose, down 1,952 units; and Seattle, down 1,866 units. Nine other markets had decreases of 1,000 units or more, according to RealPage.
Below the metro level, the top 10 permitting markets remained mostly unchanged, with all but one market returning. Columbus ranked first with 7,627 units, followed by Miami with 7,421 units and the Bronx with 6,445 units. Houston ranked fourth with 6,362 units permitted and Brooklyn ranked fifth with 5,978 units. Rounding out the top 10 were San Diego, Austin, Los Angeles, Atlanta and Phoenix.
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