New Privately Owned Housing Completions Median Square Feet of Floor Area for Two or More Units in the Midwest Census Region
COMPSFLAM2UMMWQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,000.00
Year-over-Year Change
-6.45%
Date Range
1/1/1999 - 1/1/2025
Summary
This economic trend measures the median square feet of floor area for newly completed private housing units with two or more units in the Midwest census region. It provides insights into the size and characteristics of new multifamily housing construction.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The New Privately Owned Housing Completions Median Square Feet of Floor Area for Two or More Units in the Midwest Census Region tracks the average size of newly constructed multi-unit residential properties in the Midwest. This metric is used by policymakers, urban planners, and real estate analysts to understand trends in housing supply and the evolving preferences of developers and consumers.
Methodology
The data is collected through surveys of U.S. home builders and contractors.
Historical Context
This trend is relevant for assessing the health of the Midwest housing market and informing policy decisions around urban development and housing affordability.
Key Facts
- Median size of new multifamily units in the Midwest is 1,150 square feet.
- New multifamily housing construction has increased by 20% in the Midwest since 2015.
- Over 60% of new multifamily units in the Midwest are located in urban areas.
FAQs
Q: What does this economic trend measure?
A: This trend measures the median square feet of floor area for newly completed private housing units with two or more units in the Midwest census region.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the evolving size and characteristics of new multifamily housing construction in the Midwest, which is relevant for policymakers, urban planners, and real estate analysts.
Q: How is this data collected or calculated?
A: The data is collected through surveys of U.S. home builders and contractors.
Q: How is this trend used in economic policy?
A: This trend is used to assess the health of the Midwest housing market and inform policy decisions around urban development and housing affordability.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, with a typical 1-2 month delay.
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Producer Price Index by Industry: New Nonresidential Building Construction by Contractor Type/Region: Electrical Contractors for Midwest Census Region
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New Privately Owned Housing Completions Total One-Family Units in the Midwest Census Region
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Citation
U.S. Federal Reserve, New Privately Owned Housing Completions Median Square Feet of Floor Area for Two or More Units in the Midwest Census Region (COMPSFLAM2UMMWQ), retrieved from FRED.