Building up: Booming residential construction in the state has supported industry revenue

The Apartment and Condominium Construction industry in Ohio is expected to grow over the five years to 2018. Industry revenue in Ohio has outpaced revenue growth for the industry at large over the past five years, fueled by favorable macroeconomic conditions, an expanding state population and declining state unemployment. Furthermore, steady demand conditions for industry services and improving industry profitability have encouraged new operators to enter the industry. Apartment construction activity has surged throughout the the Columbus, OH Metropolitan Statistical Area (MSA) and broader Central Ohio region during the five-year period, as high-volume apartment complexes that require relatively little land are increasingly in demand in densely populated cities such as Columbus...purchase to read more.

Industry Statistics & Market Size
Revenue
$345m
Annual Growth 13-18
4.9%
Forecast Growth 18-23
Profit
Employment
1,080
Businesses
612

Industry Threats & Opportunities

  • The Ohio industry relies less on part-time subcontractors than the national industry
  • Additional Insights for the Apartment & Condominium Construction in Ohio Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Apartment & Condominium Construction in Ohio Industry are

  • Effective product promotion
  • Having a high prior success rate (including completed prior contracts)
  • Access to multiskilled and flexible workforce
  • IBISWorld analysts also discuss how external factors such as Home Price Index for Ohio and Homeownership rate in Ohio in the Apartment & Condominium Construction in Ohio industry impact industry performance..

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    What's in this report

    What is the Apartment & Condominium Construction in Ohio Industry?

    This industry is composed of general contractors responsible for constructing new multifamily residential units, including high-rise apartments, townhouses, condominiums and medium-to-high density units (i.e. units not separated by a ground-to-roof wall). All of the complexes may be constructed for sale as condominiums or cooperatives, or used as rental apartments. This industry does not include speculative builders or contractors that build on their own account for sale.

    Industry Products
  • General contracting
  • Construction management - at risk
  • Construction management - agency or fee
  • Remodeling contractor services
  • Other construction services
  • Industry Activities
  • Constructing multifamily residential housing units
  • Constructing apartment complexes (high-rise and low-rise buildings)
  • Constructing condominiums (attached and detached units)
  • Constructing townhouses and duplexes
  • Constructing multiunit special-needs complexes (e.g. low-income, senior care and campus housing)
  • Construction management of multifamily building projects (home builders and general contractors)
  • Similar Industries
  • Construction
  • Land Development
  • Home Builders
  • Apartment Rental
  • Architects
  • Engineering Services
  • Residential Building Construction in California
  • Home Builders in Illinois
  • Apartment & Condominium Construction in Illinois
  • Remodeling in Illinois
  • Home Builders in Texas
  • Home Builders in Florida
  • Apartment & Condominium Construction in Florida
  • Remodeling in Florida
  • Home Builders in Massachusetts
  • Apartment & Condominium Construction in Massachusetts
  • Remodeling in Massachusetts
  • Home Builders in Ohio
  • Remodeling in Ohio
  • Home Builders in Pennsylvania
  • Apartment & Condominium Construction in Pennsylvania
  • Remodeling in Pennsylvania
  • Home Builders in New Jersey
  • Apartment & Condominium Construction in New Jersey
  • Remodeling in New Jersey
  • Home Builders in Georgia
  • Apartment & Condominium Construction in Georgia
  • Remodeling in Georgia
  • Home Builders in Michigan
  • Apartment & Condominium Construction in Michigan
  • Remodeling in Michigan
  • Home Builders in Wisconsin
  • Apartment & Condominium Construction in Wisconsin
  • Remodeling in Wisconsin
  • Home Builders in Washington
  • Apartment & Condominium Construction in Washington
  • Remodeling in Washington
  • Home Builders in Virginia
  • Apartment & Condominium Construction in Virginia
  • Remodeling in Virginia
  • Home Builders in Tennessee
  • Apartment & Condominium Construction in Tennessee
  • Remodeling in Tennessee
  • Home Builders in Missouri
  • Apartment & Condominium Construction in Missouri
  • Remodeling in Missouri
  • Home Builders in North Carolina
  • Apartment & Condominium Construction in North Carolina
  • Remodeling in North Carolina
  • Home Builders in Minnesota
  • Apartment & Condominium Construction in Minnesota
  • Remodeling in Minnesota
  • Home Builders in Maryland
  • Apartment & Condominium Construction in Maryland
  • Remodeling in Maryland
  • Home Builders in Colorado
  • Apartment & Condominium Construction in Colorado
  • Remodeling in Colorado
  • Apartment & Condominium Construction in New York
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Home Price Index for Ohio
  • Homeownership rate in Ohio
  • Housing starts in Ohio
  • Unemployment rate in Ohio

  • Current Performance
    Industry Outlook
    Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Apartment & Condominium Construction in Ohio Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Finance and Insurance
  • Real Estate Investment Trusts
  • Apartment Rental
  • Educational Services
  • Healthcare and Social Assistance
  • Public Administration

  • Key Selling Industries
  • Architects
  • Construction
  • Construction & Mining Equipment Wholesaling
  • Industrial Banks
  • Lumber Wholesaling
  • Manufactured Home Wholesaling
  • Ready-Mix Concrete Manufacturing
  • Roofing, Siding & Insulation Wholesaling
  • Stone, Concrete & Clay Wholesaling
  • Tool & Hardware Wholesaling

  • Products & Services
  • General contracting
  • Other construction services
  • Construction management - agency or fee
  • Remodeling contractor services
  • Construction management - at risk
  • Chart: Apartment & Condominium Construction in Ohio Industry Products and Services Segmentation

  • Major Markets
  • Real estate ownership
  • LLPs, LPs, LLCs and general partnerships
  • Nonprofit organizations and housing cooperatives
  • Individual investors
  • Trustees for estate
  • Chart: Major Market Segmentation for the Apartment & Condominium Construction in Ohio Industry

  • Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Chart: Cost Structure Benchmarking – Sector vs Apartment & Condominium Construction in Ohio

  • Basis of Competition
    Barriers to Entry
    Turner Construction Company, AECOM, Miller-Valentine Group Inc., The NRP Group LLC,
  • Table: Turner Construction Company - financial performance
  • Table: AECOM - financial performance
  • Table: Miller-Valentine Group Inc. - financial performance
  • Table: The NRP Group LLC - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Apartment & Condominium Construction in Ohio Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Apartment & Condominium Construction in Ohio Industry
    Includes:
  • Industry Revenue (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)
  • Multi-Unit Housing Starts (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Developer
  • An enterprise that prepares a real estate site for residential or commercial use and raises capital, gains zoning approvals and hires contractors to design, construct and develop property.
  • Government National Mortgage Assn. (Ginnie Mae)
  • A US government-owned corporation that provides guarantees on mortgage-backed securities that meet certain criteria.
  • Government-Sponsored Enterprise (Gse)
  • A financial services corporation created by the US Congress to enhance the flow of credit to targeted sectors of the economy.
  • Housing Starts
  • The number of new homes under construction during a specified period of time and a key economic indicator of the health of the housing market.
  • Real Estate Investment Trust (Reit)
  • A legal entity that uses pooled investor capital to purchase and manage income property or mortgage loans. To qualify as an REIT, the entity must distribute at least 90.0% of taxable income.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s industry research report on Apartment & Condominium Construction in Ohio can be used to help you understand the industry’s market size, growth potential and major companies. Five-year forecasts provide insight into the industry’s prospects, so you can make decisions with confidence. This information is perfectly suited to informing your business plans, pitch books, benchmarking and SWOT analysis.

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    This report on Apartment & Condominium Construction in Ohio:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Apartment & Condominium Construction in Ohio market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Apartment & Condominium Construction in Ohio, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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