Homeownership isn’t what it used to be. Many young professionals, families, and retirees are turning to apartments for their convenience and affordability. Demand is far outpacing supply, and the imbalance is growing.
According to analysis completed by the National Multifamily Housing Council, the National Apartment Association, and Hoyt Advisory Services, the U.S. will see a demand for an additional 4.6 million apartments by 2030. That’s more than 400,000 new apartment homes per year that must be planned and built.
RSMeans data from Gordian features more than 100 building and infrastructure models, including models for apartment buildings ranging from modest one-story complexes fit for a neighborhood side-street and those for a 24-story behemoth that belongs in a bustling city center. The table below shows the cost per square foot for constructing apartment buildings in 10 of the cities with the highest search volume on apartments.com.
RSMeans data from Gordian can be localized to more than 970 locations. For more detailed information on predictive cost data, square foot models, or construction cost data, visit rsmeans.com/bdandc.
Related Stories
Multifamily Housing | Feb 25, 2022
First set of multifamily properties achieve BREEAM certification in the U.S.
WashREIT says it has achieved certification on eight multifamily assets under BREEAM’s In-Use certification standard.
Multifamily Housing | Feb 24, 2022
First new, mixed-use high-rise in Detroit’s central business district in nearly 30 years opens
City Club Apartments completed two multifamily projects in 2021 in downtown Detroit including the first new, mixed-use high-rise in Detroit’s central business district in nearly 30 years.
Codes and Standards | Feb 21, 2022
More bad news on sea level rise for U.S. coastal areas
A new government report predicts sea levels in the U.S. of 10 to 12 inches higher by 2050, with some major cities on the East and Gulf coasts experiencing damaging floods even on sunny days.
Urban Planning | Feb 14, 2022
5 steps to remake suburbs into green communities where people want to live, work, and play
Stantec's John Bachmann offers proven tactic for retrofitting communities for success in the post-COVID era.
Senior Living Design | Feb 11, 2022
Design for senior living: A chat with Rocky Berg, AIA
Rob Cassidy, Editor of MULTIFAMILY Design + Construction, chats with Rocky Berg, AIA, Principal with Dallas architecture firm three, about how to design senior living communities to meet the needs of the owner, seniors, their families, and staff.
Multifamily Housing | Feb 8, 2022
Suffolk to build Alba Palm Beach
The project will feature 55 residences.
| Feb 4, 2022
New apartment complex Dixon Place honors the history of Salt Lake City
Salt Lake City’s Sugar House neighborhood has been experiencing somewhat of a renaissance as of late, and the opening of new apartment community Dixon Place continues that trend. MVE + Partners took leadership in the design of the 59-unit, Class A development.
Sponsored | Steel Buildings | Jan 25, 2022
Multifamily + Hospitality: Benefits of building in long-span composite floor systems
Long-span composite floor systems provide unique advantages in the construction of multi-family and hospitality facilities. This introductory course explains what composite deck is, how it works, what typical composite deck profiles look like and provides guidelines for using composite floor systems. This is a nano unit course.
Multifamily Housing | Jan 20, 2022
Texas’ first cohousing residential community breaks ground in East End Houston
The design will include sustainability elements.
Coronavirus | Jan 20, 2022
Advances and challenges in improving indoor air quality in commercial buildings
Michael Dreidger, CEO of IAQ tech startup Airsset speaks with BD+C's John Caulfield about how building owners and property managers can improve their buildings' air quality.
