Apartment construction timelines shortened slightly last year, signaling some productivity gains despite persistent labor shortages. The latest Survey of Construction data from the U.S. Census Bureau shows that the average time to complete a multifamily building—from permit authorization to completion—fell to 19.6 months in 2024, a decline of about 0.3 months from the prior year, according to the National Association of Home Builders.
The modest improvement follows more than a decade of swings in apartment construction duration. In 2009, the average authorization-to-completion period stood at 15.4 months. It rose to 16.7 months the following year, dropped to 12 months by 2013, then lengthened again to 19.8 months in 2022 before easing slightly last year. When measured from the start of construction to completion, the average build time was 13.4 months in 2009 and peaked at 17 months in 2022 before dipping to 16.9 months in 2024.
The time between permit authorization and the start of construction has fluctuated as well. That interval averaged two months in 2009, reached 2.7 months in 2010, fell to just 1.4 months in 2014, and returned to 2.7 months in 2024.
Building size also plays a major role in determining how long projects take to finish. According to the NAHB, structures with at least 20 units took an average of 22.1 months to complete in 2024. Smaller developments with two to four units finished more quickly, averaging 15.3 months. Those with 10 to 19 units averaged 19.2 months, while those with five to nine required about 19.1 months.
Compared with 2023, smaller ones—those with two to four units—completions were 2.3 months faster last year. In contrast, mid-sized projects saw delays: construction of 10‑ to 19‑unit buildings took 2.3 months longer, while five to nine‑unit developments required 2.2 additional months.
Regional differences remain significant. The Northeast recorded the slowest pace, taking an average of 23.4 months from authorization to completion. The West followed at 19.9 months, while the South averaged 18.5 months. The Midwest had the shortest timeline at 17.3 months. Within each region, completion times varied depending on project size, reflecting local labor markets and permitting conditions.
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