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 | 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.
Multifamily Housing | Jan 13, 2022
Astra Tower will be Salt Lake City’s tallest high-rise
HKS designed the project.
3D Printing | Jan 12, 2022
Using 3D-printed molds to create unitized window forms
COOKFOX designer Pam Campbell and Gate Precast's Mo Wright discuss the use of 3D-printed molds from Oak Ridge National Lab to create unitized window panels for One South First, a residential-commercial high-rise in Brooklyn, N.Y.
Multifamily Housing | Jan 12, 2022
Nabr, co-founded by Bjarke Ingels, looks to reimagine the future of urban living
The company’s first development is slated to break ground in summer 2022.
Multifamily Housing | Jan 12, 2022
Construction begins on downtown Phoenix’s PALMtower
The multifamily tower will rise 28-stories.
ProConnect Events | Jan 8, 2022
ProConnect Events 2022: Multifamily, Sustainability, Education, and Single Family – watch the video to learn how to participate!
At ProConnect events, building product manufacturers meet with AEC professionals and real estate developers to discuss upcoming building projects, new products, and technical solutions.
Senior Living Design | Jan 5, 2022
Top Senior Living Facility Design and Construction Firms
Perkins Eastman, Kimley-Horn, WSP USA, Whiting-Turner Contracting Co., and Ryan Companies US top BD+C's rankings of the nation's largest senior living sector architecture, engineering, and construction firms, as reported in the 2021 Giants 400 Report.
Multifamily Housing | Dec 22, 2021
This will be Fort Lauderdale’s Tallest Building
ODA is designing the project.
Multifamily Housing | Nov 29, 2021
Arthaus residential units and community art gallery debut in Allston, Mass.
PCA-designed residential community includes 74 apartments, 9 condos by The Mount Vernon Company.