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 2,548 units approved for construction in September. This is 716 units or 39.1 percent more than the 1,832 issued in September 2013. The over-the-year gain resulted from more authorizations of units in multi-family (+627 or +73.2%) and single family (+89 or +9.1%) structures. In September 2014, multi-family units accounted for 58.2% of approvals while 41.8 percent were single-family.
Over the month, the number of residential units authorized for construction rose by 458 units or 21.9 percent compared with August’s revised total of 2,090. The increase took place because more multi-family (+244 or +19.7%) and single-family (+214 or +25.2%) were approved in September. Middlesex County led the state with the most issuances of building permits with a total of 496, including 421 units in multi-family structures and 75 single-family houses. Approvals in the county were concentrated in New Brunswick where 393 units were authorized, all in multi-family structures.
In second place among the state’s 21 counties was Bergen where 362 units were authorized, including 261 multi-family units and 101 single-family houses. Teaneck (62 units), Lyndhurst (55 units) and River Vale (51 units) townships were the municipalities with the most approvals. In Teaneck, all of the units proposed were multi-family. One house was approved each in Lyndhurst and River Vale, and the remaining units were multi-family.
The third-ranking county was Hudson with a total of 298 units, including 237 in multi-family structures and 61 single-family houses. Leading the county’s municipalities in authorizations was Harrison where 106 units were proposed, all in multi-family structures. In second place among the county’s municipalities was Secaucus with 79 permit issuances, including 78 multi-family units and one single-family house.
Ocean County was in fourth place with 222 units, including 205 single-family houses and 17 units of multi-family housing. Toms River Township led the county’s municipalities with a total of 63 authorizations including 57 single-family houses and six units in multi-family structures. Lakewood Township ranked second with 41 approvals, including 35 single-family houses and six units of multi-family housing. Morris County ranked fifth among the state’s counties, with 186 permits issued including 113 multi-family units and 73 single-family houses. The top ranking municipality in the county was Rockaway Township with 41 approvals including 39 multi-family units and two single-family houses.
Nationally, the issuance of building permits on a not seasonally adjusted basis was 90,696 in September 2014, an increase of 3,530 units or 4.0 percent from the prior month. Across the United States, building permits were up over the year by 9,360 or 11.5 percent from September 2013. For the month of September 2014, single-family houses accounted for 59.9 percent of the units approved, while 40.1 percent were multi-family.
New Jersey’s total of 21,778 units authorized through September 2014 was up by 3,624 or 20.0 percent compared to the September 2013 total of 18,154. The year-to-date total reflects homebuilding in the northern part of the state as two counties (Hudson and Bergen) accounted for 29.0 percent of the statewide total. Hudson County tops the list with 3,520 permit issues of which 3,343 were multi-family and 177 were for single-family units. Bergen County ranked second, with a total of 2,785 units, of which 2,014 were multi-family and 771 were single-family. Two of the top three municipalities in the state for permit issues are located in Hudson County. Jersey City was the municipality that ranked first in the state with 1,218 issues, including 1103 units in multi-family structures and 115 single-family houses. In third place was Secaucus with 641 units, including 632 multi-family units and nine single-family houses. Second place was held by Middlesex County’s New Brunswick with a total of 669 units, including 663 units in multi-family structures and six single-family houses. New Brunswick is home to Rutgers University and has a substantial student population which helps drive demand for multi-family units.
Across the United States, 782,613 units were authorized on a not seasonally adjusted basis year-to-date through September 2014. This represents a gain of 49,076 or 6.7 percent over the level of September 2013 (733,537). Through September 2014, 62.0 percent of the units authorized were single-family. The remaining 38.0 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).