New Privately Owned Housing Completions in the United States, Median Square Feet Per Unit for Two or More Units
This dataset tracks new privately owned housing completions in the united states, median square feet per unit for two or more units over time.
Latest Value
1019.00
Year-over-Year Change
-1.55%
Date Range
1/1/1987 - 1/1/2025
Summary
This economic indicator tracks the median square feet per unit for new privately owned housing completions with two or more units in the United States. It provides insight into the size and characteristics of the multifamily housing market.
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 in the United States, Median Square Feet Per Unit for Two or More Units metric measures the median size of new multifamily housing units, such as apartment buildings and condominiums. This data point is used by economists and policymakers to analyze trends in the residential construction industry and gauge the evolution of housing stock.
Methodology
The U.S. Census Bureau collects this data through surveys of homebuilders and developers.
Historical Context
This metric is relevant for understanding changes in the multifamily housing market and informing policy decisions related to urban planning, affordable housing, and residential construction.
Key Facts
- The median size of new multifamily housing units has trended downward since the early 2000s.
- Smaller multifamily units can indicate a shift towards more affordable and compact housing options.
- The size of new multifamily units is influenced by factors such as land costs, zoning regulations, and consumer preferences.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the median square footage of new privately owned housing completions with two or more units in the United States.
Q: Why is this trend relevant for users or analysts?
A: The size of new multifamily housing units provides insights into the characteristics and evolution of the residential construction industry, which is important for understanding housing affordability and urban development trends.
Q: How is this data collected or calculated?
A: The U.S. Census Bureau collects this data through surveys of homebuilders and developers.
Q: How is this trend used in economic policy?
A: This metric is relevant for policymakers and urban planners when making decisions related to housing, construction, and land use regulations.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Census Bureau, and there may be some delays in availability.
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Citation
U.S. Federal Reserve, New Privately Owned Housing Completions in the United States, Median Square Feet Per Unit for Two or More Units (COMPSFLAM2UMQ), retrieved from FRED.