Residential Building Permits Summary
According to the latest data from the US Bureau of the Census on housing units authorized by building permits, New Jersey had 3,732 units approved for construction in April. This is 1,394 more permits than the 2,338 issued in April 2014. This 59.6% increase occurred because gains for units in multi-family structures (1,548 units or 115.3%) offset losses in authorizations of single-family houses (-154 units or -15.5%).
Over the month, the number of housing units authorized for construction rose by 2,007 units or 116.3 percent compared with March 2015’s revised total of 1,725. This was the result of gains in approvals of multi-family housing (2,012 units or 228.9%) offset by losses in single-family houses (-5 units or -0.6%). Approvals of multi-family units often vary widely from month to month because many are produced in large batches for housing developments or apartment complexes. Of the units for which permits were issued in April, 77.5 percent (2,891) were multi-family and 22.5 percent (841) were single-family.
Hudson County led the state with the most issuances of building permits with a total of 865. Of these, 843 were for units in multi-family structures and 22 were for single-family houses. Jersey City led the county’s municipalities with the most authorizations (377) including 361 units in multi-family structures and 16 single-family houses. Ranking second among the county’s municipalities was Hoboken with a total of 143 approvals, all in multi-family housing.
In second place was Monmouth County where permits were issued for 560 units including 486 units in multi-family structures and 74 single-family houses. Approvals were centered in Ocean Township where a total of 466 units were authorized including 465 multi-family residences and one single-family house.
The third-ranking county was Middlesex, with a total of 407 approvals, including 342 units in multi-family buildings and 65 single-family houses. The most units approved were in New Brunswick (135) followed by Sayreville (124). In New Brunswick, 134 residences were multi-family and one was single-family. All of the units authorized in Sayreville were multi-family.
Ranking fourth among the state’s 21 counties was Essex where a total of 268 units were authorized including 234 in multi-family structures and 34 single-family houses. The municipality with the most approvals was Bloomfield Township (74), where all of the units were multi-family.
Rounding out the top five was Ocean County with a total of 245 units including 172 single-family houses and 73 multi-family residences. The leading municipalities in the county were Jackson (76) and Toms River (52) townships. In Jackson Township 66 multi-family and 10 single-family units were authorized. Toms River Township granted approvals for 50 single-family houses and two units in multi-family housing.
Nationally, the issuance of building permits on a not seasonally adjusted basis rose by 13,490 or 14.8 percent over the month from 91,335 in March 2015 to 104,825 in April 2015. Across the United States, building permits were up over the year by 10,136 or 10.7 percent from April 2014. For the month of April 2015, single-family houses accounted for 61.2 percent of the units authorized, while 38.8 percent were multi-family.
The northern part of the state remains an important driver of housing demand in the state as three counties (Hudson, Union and Bergen) combined approved 3,346 units and were responsible for 36.7 percent of the statewide total. Hudson County issued permits for 1,753 units, including 1,618 multi-family residences and 135 single-family houses. In Union County, 853 units were proposed, including 750 multi-family residences and 103 single-family houses. Bergen County authorized 740 units, including 480 in multi-family housing and 260 single-family units.
Year to date through April 2015, Ocean County (904 units) ranked second in the state next to Hudson County for the most residences authorized. This county, located along the Atlantic coast benefited from approvals to replace houses lost due to Hurricane Sandy as well as from strong demand for additional vacation and retirement homes. The county led the state in permitting for single-family houses. Of the units authorized, 655 were single-family and 249 were multi-family.
The top municipality in the state for permit issues so far this year is Jersey City, located in Hudson County. The city authorized a total of 906 units, including 788 in multi-family housing and 118 single-family houses. In second place was Ocean Township in Monmouth County where a total of 469 units including 465 multi-family residences and four single-family houses were authorized. In third place was Secaucus in Hudson County with a total of 300 units including 296 in multi-family structures and four single-family houses. Situated across from Manhattan, Hudson County is a desirable place to live for workers employed in the nation’s largest city. Ocean Township, found
along the Atlantic coast near Asbury Park and the Garden State Parkway, also provides easy access to jobs in northern New Jersey and New York City. In addition, it is close to the Atlantic Ocean where summer recreational opportunities are abundant.
Across the United States, 345,721 units were authorized on a not seasonally adjusted basis year to date through April 2015. This represents a gain of 28,056 or 8.8 percent over the level of April 2014 (317,665). Through April 2015, 60.9 percent of the units authorized were single-family. The remaining 39.1 percent were multi-family.
Detailed residential building permit data for New Jersey, its counties, as well as all 565 municipalities are available from the New Jersey Department of Labor and Workforce Development on the Internet (http://lwd.dol.state.nj.us/labor/lpa/LMI_index.html).