SEARCH   
MEMBER LOGIN    
Forgot Password?

Apartment & Condominium Construction in the US: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Apartment & Condominium Construction Market Research Report | NAICS 23611b | Jul 2016

Inquire within: More cautious consumers have chosen to rent, increasing demand for multifamily units

IBISWorld’s Apartment & Condominium Construction market research report offers insightful industry analysis and research into the market at the national level. IBISWorld’s in-depth industry market research is presented in a logical and consistent format. The industry report contains key industry statistics, market size, industry trends, and growth and profit forecasts for a 5-year outlook period.

Report Snapshot
Market Share of Companies
There are no companies with a dominant market share
Industry Statistics & Market Size
Revenue
$39bn
Annual Growth 11-16
11.0%
Annual Growth 16-21
Annual Growth
Profit
Profit
Employment
46,269
Businesses
14,851
Industry Threats & Opportunities
  • The industry has experienced one of the fastest expansions within the construction sector
  • The recovery of the US housing sector has led to increased property values
  • The industry is expected to benefit from investments in higher-valued community developments
  • ... purchase to read more

Industry Analysis & Industry Trends

Over the five years to 2016, the Apartment and Condominium Construction industry has experienced one of the fastest expansions within the construction sector. Decreasing vacancy rates over the time period, along with increase investment in residential construction, has facilitated growth in multifamily complex starts. In the five years to 2021, a slower level of growth will be due to higher rental vacancy rates and significant improvements in the general economy, which encourages consumers to purchase houses. In addition, revenue will grow at a slower rate due to a surplus of projects in certain key markets. However, continued migration of the US population toward metropolitan areas will still generate strong demand for industry services over the period... ... purchase to read more

Industry Report - Industry Analysis Chapter

The Apartment and Condominium Construction industry is primarily composed of general contractors (GCs) and construction management companies that build multifamily units for a range of different markets across the United States, including real estate investment trusts, individual property investors, real estate developers, the tourism sector and federal and state governments. Industry operators typically act as the GC for a project, which entails full planning and organization of the buildout, including securing materials, hiring subcontractors and complying with all local regulations. Although the industry services a diverse range of client markets, they are highly dependent on the rental market, which accounts for 70.0% of industry revenue.

.. ... purchase to read more

Additional Insights for the Apartment & Condominium Construction Industry

IBISWorld identifies 250 Key Success Factors for a business.The most important for the Apartment & Condominium Construction 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 Value of residential construction and Urban population in the Apartment & Condominium Construction industry impact industry performance... purchase to read more

     


    Industry ProductsRelated Reports

    What is the Apartment & Condominium Construction 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 who build on their own account for sale.

    Industry Products
    General contractingConstruction management, Construction management, at risk agency or fee onlyOther construction services
     
    Industry Activities
    Constructing multifamily residential housing unitsConstructing apartment complexes (high-rise and low-rise buildings)Constructing condominiums (attached and detached units)Constructing townhouses and duplexesConstructing multiunit special-needs complexes (e.g. low-income, senior care and campus housing)Construction management of multifamily building projects (home builders and general contractors)


    Table of Contents
    About this Industry
    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry at a Glance
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Industry Performance
    Executive Summary
    Key External Drivers
  • Value of residential construction
  • Urban population
  • Rental vacancy rates
  • House price index
  • National unemployment rate
  • Current Performance
  • Rental activity increases
  • Building contractors expand
  • Chart: Revenue Growth
  • Industry Outlook
  • Table: Apartment & Condominium Construction Industry Revenue Outlook
  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Apartment & Condominium Construction Industry Lifecycle vs The Economy
  • Products & Markets
    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
  • Construction management,
  • Construction management, at risk agency or fee only
  • Other construction services
  • Chart: Apartment & Condominium Construction Industry Products and Services Segmentation
  • Demand Determinants
  • Demand for rental accommodation
  • Residential property investment
  • Housing preferences
  • One-off factors
  • Major Markets
  • General rental and sale market
  • Tourist and retirement communities
  • Real estate investment trusts
  • Special needs accommodation
  • Owner-operated construction
  • Refurbishment of converted buildings
  • Chart: Major Market Segmentation for the Apartment & Condominium Construction Industry
  • International Trade
    Business Locations
  • Chart: Business Locations by State
  • Competitive Landscape
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Chart: Cost Structure Benchmarking – Sector vs Apartment & Condominium Construction
  • Basis of Competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Apartment & Condominium Construction Industry
  • Industry Globalization
    Major Companies
    There are no major players in this industry
    Operating Conditions
    Capital Intensity
  • Chart: Level of Capital Intensity for the Apartment & Condominium Construction Industry
  • Chart: Tools of the Trade: Growth Strategies for Success
  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth
  • Regulation & Policy
    Industry Assistance
    Key Statistics
  • Table: Industry Data for the Apartment & Condominium Construction Industry
  • Includes:
  • Industry Revenue (2007-2021)
  • Industry Gross Product (2007-2021)
  • Establishments (2007-2021)
  • Businesses (2007-2021)
  • Employment (2007-2021)
  • Wages (2007-2021)
  • Multi-Unit Housing Starts (2007-2021)
  • Table: Annual Percentage Change for Key Industry Data
  • Table: Key Ratios for Industry Key Data
  • Table: Industry Financial Ratios
  • Jargon & Glossary
    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 corporations 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.

  • Why Buy this Report?
    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Apartment & Condominium Construction:
    • 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 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 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, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

    View Sample
    Quote
    Select Clients
    Back to Top