Apartment Construction Speeds Up
Date postedOctober 6, 2025
Apartment Construction Speeds Up
Permit to completion time is decreasing, but it depends on the region and project size.
It's taking less time to build apartments, on average, despite longer-term construction timelines remaining. According to analysis from the National Association of Home Builders of the 2024 Survey of Construction from the Census Bureau, it took 0.3 months shorter to go from permit to completion in 2024 (19.6 months) compared to 2023.
Typically, larger buildings require more time to construct. Buildings with 20 or more units took 22.1 months after authorization, while buildings with two to four units closed in 15.3 months. Those with 10-19 units took 19.2 months, and at 19.1 months, five- to nine-unit buildings.
The Midwest finished the fastest at 17.3 months, while the Northeast took the longest at 23.4 months from permit to completion.