Apartment Construction Permits Fall Below Pre-Pandemic Levels: Redfin Report

Multifamily building permits declined 27 percent from pandemic highs, with Austin, Texas, leading in new permits while cities like Stockton, California, stall.

A sign is posted in front of an apartment building with available rentals in San Francisco on June 9, 2023. Justin Sullivan/Getty Images

Developers are pulling back from new apartment projects across the United States, with building permits for multifamily units falling below levels seen before the COVID-19 pandemic, according to a new analysis by Redfin.

Over the 12 months ending March 2025, developers obtained permits to build 12.4 multifamily units per 10,000 people nationwide. That figure is down 27.1 percent from the height of pandemic-era construction and 5.5 percent below the pre-pandemic average.