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Multifamily Housing Construction (Apartments) Market Size Forecast: How Big Could The Market Get By 2030?
The multifamily housing construction (apartments) market size has demonstrated robust expansion recently. It is projected to expand from $918.51 billion in 2025 to $1002.55 billion in 2026, driven by a compound annual growth rate (CAGR) of 9.2%. Historically, this market’s growth can be ascribed to factors such as increased urban population density, a rising demand for multi-unit housing, a continued reliance on traditional construction methods, the expansion of rental housing development, and the increasing need for cost-effective residential projects.
The multifamily housing construction (apartments) market is projected to experience swift expansion in the upcoming years, with its valuation expected to reach $1507.46 billion by 2030, at a compound annual growth rate (CAGR) of 10.7%. This growth during the forecast period is attributed to several factors, including the increasing adoption of modular apartment construction, a rise in investment toward affordable housing, the expansion of high-rise residential developments, a growing emphasis on sustainable residential design, and the development of advanced building materials for multifamily projects. Key trends observed in this period include an escalating demand for urban multi-unit residential projects, the wider embrace of modular and prefabricated apartment construction, an increase in affordable housing and mid-rise developments, the expansion of renovation, remodeling, and building upgrade initiatives, and a greater focus on space-efficient apartment layouts.
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Multifamily Housing Construction (Apartments) Market Growth Drivers: What’s Behind The Acceleration?
The future expansion of the multifamily housing construction (apartments) market is anticipated to be driven by the appeal of urban living. Urban living describes a lifestyle and characteristics associated with residing in densely developed areas, typically offering enhanced access to amenities, services, and cultural opportunities. Multifamily housing construction, such as apartments, delivers efficient and compact residential solutions that cater to the requirements of urban living. For instance, in April 2023, the World Bank Group, a US-based bank, reported that more than half of the global population resides in urban regions. This urban population is projected to surge to 6 billion by 2045, marking a 1.5 times increase. Consequently, the preference for urban living is a significant factor propelling the multifamily housing construction (apartments) market.
Multifamily Housing Construction (Apartments) Market Segmentation: How Does The Market Break Down By Category?
The multifamily housing construction (apartments) market covered in this report is segmented –
1) By Construction Activity: New Construction, Repair And Maintenance, Refurbishment And Demolition
2) By Cost Type: Construction Materials, Construction Equipment, Construction Services
3) By Application: Owned, Rental
Subsegments:
1) By New Construction: Ground-Up Construction, Modular Construction, High-Rise Apartments, Low-Rise Apartments
2) By Repair and Maintenance: Routine Maintenance, Emergency Repairs, Preventive Maintenance
3) By Refurbishment and Demolition: Renovation and Remodeling, Structural Upgrades, Demolition of Existing Structures, Site Preparation for New Development
Multifamily Housing Construction (Apartments) Market Trends: What’s Defining The Industry’s Next Phase?
Key companies in the multifamily housing construction (apartments) market are prioritizing the creation of advanced tools, like carbon emissions calculators, to empower customers and gain a competitive advantage. A Carbon emissions Calculator serves as a tool that computes and compares carbon emissions data, drawing upon specific factors such as water and energy consumption. For example, in November 2023, SilverDoor, a UK-based company specializing in providing serviced apartments, introduced its Carbon Calculator for the serviced apartment sector, allowing users to calculate and compare carbon emissions data. This tool utilizes a proprietary methodology derived from building-specific water and energy consumption to estimate per-night CO2 emissions for stays in serviced apartments. The emissions score is displayed on property profiles within the SilverDoor platform and is benchmarked against an equivalent hotel stay, based on the Cornell Hotel Sustainability Benchmarking Index.
Multifamily Housing Construction (Apartments) Market Competitive Overview And Top Companies
Major companies operating in the multifamily housing construction (apartments) market are PulteGroup Inc., Turner Construction Company, AECOM Technology Corporation, Greystar Real Estate Partners LLC, Balfour Beatty US, The Whiting-Turner Contracting Company, Skanska USA Inc., Gilbane Building Company, Lendlease Corporation, The Michaels Organization LLC, Clark Construction Group LLC, Lincoln Property Company, JE Dunn Construction Company, Suffolk Construction Company Inc., Alliance Residential Company LLC, The Bozzuto Group, McCarthy Building Companies Inc., Swinerton Incorporated, Ryan Companies US Inc., The Weitz Company, Mortenson Construction, Wood Partners LLC, The Richman Group of Companies, Continental Properties Company Inc., Mill Creek Residential Trust LLC, JPI Companies, Brasfield & Gorrie LLC
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Multifamily Housing Construction (Apartments) Market Regional Breakdown: Where Is Demand Concentrated?
North America was the largest region in the multifamily housing construction (apartments) market in 2025. Asia-Pacific is expected to be the fastest-growing region in the global multifamily housing construction market(apartments) report during the forecast period. The regions covered in the multifamily housing construction (apartments) market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Wasay has over a decade of experience in market research, data modelling, and analytics, with prior experience at GlobalData and Decision Tree Consulting Services. At The Business Research Company , he leads research operations across syndicated studies, customized consulting engagements, and the Global Market Model platform. His professional experience includes supporting organizations such as Boston Consulting Group, KPMG, and Ernst & Young. Wasay holds a degree in Electronics and Communications Engineering, postgraduate management qualifications from International Management Institute Belgium and Indian School of Business and Entrepreneurship, and completed the Integrated Program in Business Analytics from Indian Institute of Management Indore.
