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2024 U.S. Industry Statistics & Market Forecast - New Multifamily Housing Construction
Market Size & Industry Statistics
The total U.S. industry market size for New Multifamily Housing Construction :
Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders.
In addition to revenue, the industry market analysis shows information on employees, companies, and average firm size.
Investors, banks, and business executives use growth rates and industry trends to understand the market outlook and opportunity.
| Statistics | 2019 2020 2021 2022 2023 | |
|---|---|---|
| Market Size (Total Sales/Revenue) |
Order at top of page | |
| Total Firms | ||
| Total Employees | ||
| Average Revenue Per Firm | ||
| Average Employees Per Firm | ||
| Average Revenue Per Employee | ||
Market Forecast
Market forecasts show the long term industry outlook and future growth trends. The following extended five-year forecast projects both short-term and long-term trends.
| Forecast / Industry Outlook | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|
| Market Forecast ($ millions) | ||||||
| Projected Industry Growth Rate (%) | ||||||
Industry Insights
The New Multifamily Housing Construction industry is a rapidly growing sector, driven by several key trends. The first trend is urbanization: as more people move to cities, the demand for housing has increased, creating a need for more multifamily living options. This trend has been particularly evident in younger generations who are attracted to urban lifestyle.The second trend is the increasing need for sustainability and energy efficiency. Multifamily housing developers are adopting green building standards to reduce energy consumption and environmental impact of buildings. Sustainable materials and energy-efficient systems are becoming more popular.
The third trend is the increasing use of technology in building design and construction, including building information modeling (BIM) and virtual reality tools. These technologies make the design and construction process more efficient and accurate, and can save time and money.
Another trend is a move towards shorter construction timelines, with developers adopting modular construction practices. This allows for buildings to be constructed more quickly and cost-effectively.
Lastly, the industry is moving to meet changing consumer demands, with developers incorporating amenities like fitness centers, shared workspaces, and pet-friendly policies into their properties.
Overall, the New Multifamily Housing Construction industry is influenced by trends that reflect social, economic, and technological forces that are likely to shape the industry for years to come.
U.S. Geographic Distribution: Revenue Statistics by State
Market Size by State ($ millions) indicates how the industry's competition is distributed throughout the country. State-level information can identify areas with higher and lower industry market share than average.
Income Statement (Average Financial Metrics)
Financial metrics provide a snapshot view of a benchmark "average" company. Key business metrics show revenue and operating costs. The data collected covers both public and private companies.| Industry Average | Percent of Sales (Industry Benchmark) | |
|---|---|---|
| Total Revenue | Order at top of page |
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| Operating Revenue | ||
| Cost of Goods Sold | ||
| Gross Profit | ||
Operating Expenses | ||
| Pension, profit sharing plans, stock, annuity | ||
| Repairs | ||
| Rent paid on business property | ||
| Charitable Contributions | ||
| Depletion | ||
| Domestic production activities deduction | ||
| Advertising | ||
| Compensation of officers | ||
| Salaries and wages | ||
| Employee benefit programs | ||
| Taxes and Licenses | ||
| Bad Debts | ||
| Depreciation | ||
| Amortization | ||
| Other Operating Expenses | ||
| Total Operating Expenses | ||
| Operating Income | ||
| Non-Operating Income | ||
| EBIT (Earnings Before Interest and Taxes) | ||
| Interest Expense | ||
| Earnings Before Taxes | ||
| Income Tax | ||
| Net Profit Net Income | ||
Financial Ratio Analysis
Financial ratio information can be used to benchmark how a New Multifamily Housing Construction company compares to its peers. Accounting statistics are calculated from the industry-average for income statements and balance sheets.| Profitability & Valuation Ratios | Industry Average |
|---|---|
| Company valuation can be measured based on the firm's own performance, as well as in comparison against its industry competitors. These metrics show how the average company in the New Multifamily Housing Construction industry is performing. | |
| Profit Margin Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues. |
|
| Return on Equity (ROE) Return on Equity (ROE) is net income as a percentage of shareholders' equity. Shareholders' Equity is defined as the company's total assets minus total liabilities. ROE shows how much profits a company generates with the money shareholders invested (or with retained earnings). |
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| Return on Assets (ROA) Return on Assets (ROA) is net income relative to total assets. The market research on New Multifamily Housing Construction measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets. |
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| Liquidity Ratios | Industry Average |
|---|---|
| Bankers and suppliers use liquidity to determine creditworthiness and identify potential threats to a company's financial viability. | |
| Current Ratio Measures a firm's ability to pay its debts over the next 12 months. |
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| Quick Ratio (Acid Test) Calculates liquid assets relative to liabilities, excluding inventories. |
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| Efficiency Ratios - Key Performance Indicators | Industry Average |
|---|---|
| Measure how quickly products and services sell, and effectively collections policies are implemented. | |
| Receivables Turnover Ratio If this number is low in your business when compared to the industry average in the research report, it may mean your payment terms are too lenient or that you are not doing a good enough job on collections. |
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| Average Collection Period Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover |
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| Inventory Turnover A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort. |
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| Fixed-Asset Turnover Generally, higher is better, since it indicates the business has less money tied up in fixed assets for each dollar of sales revenue. |
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Compensation & Salary Surveys for Employees
Compensation statistics provides an accurate assessment of industry-specific jobs and national salary averages. This information can be used to identify which positions are most common, and high, low, and average annual wages.| Title | Percent of Workforce | Bottom Quartile | Average (Median) Salary | Upper Quartile |
|---|---|---|---|---|
| Management Occupations | 13% | Order at top of page |
||
| Chief Executives | 0% | |||
| General and Operations Managers | 5% | |||
| Other Management Occupations | 7% | |||
| Construction Managers | 6% | |||
| Construction Managers | 6% | |||
| Business and Financial Operations Occupations | 8% | |||
| Business Operations Specialists | 7% | |||
| Office and Administrative Support Occupations | 13% | |||
| Construction and Extraction Occupations | 56% | |||
| Supervisors of Construction and Extraction Workers | 8% | |||
| First-Line Supervisors of Construction Trades and Extraction Workers | 8% | |||
| First-Line Supervisors of Construction Trades and Extraction Workers | 8% | |||
| Construction Trades Workers | 46% | |||
| Carpenters | 24% | |||
| Carpenters | 24% | |||
| Construction Laborers | 16% | |||
| Construction Laborers | 16% | |||
New Multifamily Housing Construction Competitor Landscape & Key Companies [PREMIUM]
The most influential companies in the New Multifamily Housing Construction industry and adjacent industries either have large market share or are developing new business models and methods that could disrupt the status quo. We look at leading and emerging companies in the New Multifamily Housing Construction industry and adjacent sectors:| Market Leaders: Direct Competitors Companies with the largest market share, focused in this industry |
Market leaders: Diversified Competitors Largest companies that have diversified operations in this and other industries |
| Innovators: Direct Competitors Innovative, Emerging, and Disruptive Companies that may influence the future direction of the industry. |
Innovators: Diversified Competitors Innovators and Disruptors in adjacent industries that may also affect the New Multifamily Housing Construction industry. |
Source:
Innovation News
- Jan 08, 2024: CW Development Group trademarks "MOVE IN (AL)READY" - Providing an Internet website portal offering information in the fields of real estate concerning the purchase and sale of new and resale of homes and condos; Providing real estate listings and real estate information via a website
- Jul 07, 2023: CW Development Group trademarks "C.W. DESIGN" - Planning and layout design services for residential homes and multi-unit dwellings; Residential building design; Urban design planning services
- Jul 07, 2023: CW Development Group trademarks "C.W. URBAN" - Real estate development; Real estate development services in the field of urban in-fill communities
- Jun 01, 2023: Shea Connelly Development raises $12 million in funding.
- Jul 30, 2020: Social Construct patents Systems And Methods For Automating The Manufacture Of Customized Prefabricated Parts Using Electromagnetic Image Surveying
- Jul 30, 2020: Social Construct patents Systems And Methods For Automating Installation Of Prefabricated Parts Using Projected Installation Graphics
- Nov 04, 2019: Social Construct raises $10 million in funding.
Recent Federal Contracts for New Multifamily Housing Construction - Mar 25, 2024: MISCELLANEOUS FOREIGN AWARDEES (Washington, DC) awarded $11,927
- Mar 18, 2024: DUCAS CONSTRUCTION INC. (Scarborough, ME) awarded $8,459,372
- Mar 12, 2024: GUARDIAN CONSTRUCTION, INC. (Layton, UT) awarded $4,387,683
- Feb 12, 2024: MILLS DESIGN GROUP LLC (Elgin, AZ) awarded $6,344,084
- Jan 31, 2024: SWANK ENTERPRISES (Valier, MT) awarded $20,285,063
- Jan 03, 2024: NORTHCON INC (Hayden, ID) awarded $20,811,167
- Mar 25, 2024: MISCELLANEOUS FOREIGN AWARDEES (Washington, DC) awarded $11,927
- Mar 18, 2024: DUCAS CONSTRUCTION INC. (Scarborough, ME) awarded $8,459,372
- Mar 12, 2024: GUARDIAN CONSTRUCTION, INC. (Layton, UT) awarded $4,387,683
- Feb 12, 2024: MILLS DESIGN GROUP LLC (Elgin, AZ) awarded $6,344,084
- Jan 31, 2024: SWANK ENTERPRISES (Valier, MT) awarded $20,285,063
- Jan 03, 2024: NORTHCON INC (Hayden, ID) awarded $20,811,167
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