Apartment Construction Times Ease but Stay Elevated

In 2025, multifamily apartment construction averaged 18.9 months from authorization to completion, marking a 0.7-month improvement over 2024. This duration remained 3.5 months longer than in 2009 and nearly seven months above the 2013 low. The Northeast experienced the longest average timeline at 21.9 months, while the Midwest was the shortest at 16.6 months.

Despite the modest improvement, construction times continued to exceed those of a decade ago, with the gap between the Northeast and Midwest growing by 5.3 months. Larger multifamily properties, particularly those with 50 or more units, accounted for 57% of multifamily buildings in 2025, compared to 43% in 2009. The growing share of large projects has contributed to the overall lengthening of construction cycles, despite annual improvements remaining modest and failing to return to earlier norms.