Residential Building Permits Summary
New Jersey Residential Building Permits
According to the latest data from the US Bureau of the Census on housing units authorized by building permits, New Jersey had 2,410 units approved for construction in February. This is 521 more permits than the 1,889 issued in February 2015. This 27.6 percent gain resulted from additional authorizations of units in multi-family (+462 units or +36.1%) structures and more approvals of single-family houses (+59 units or +9.7%).
Over the month the number of housing units authorized for construction rose by 778 units or 47.7 percent compared with January’s revised total of 1,632. This resulted from gains in authorizations of units in multi-family structures (+645 units or +58.8%) and single-family houses (+133 units or 24.9%). Approvals of multi-family houses 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 February, 72.3 percent (1,742) were multi-family and 27.7 percent (668) were single-family.
Bergen County led the state with the most issuances of building permits with a total of 580. Of these, 524 units were in multi-family structures and 56 were single-family houses. Approvals were concentrated in Fort Lee, where 458 units were authorized, all in multi-family housing.
In second place among the state’s 21 counties was Hudson, where permits were issued for 505 units including 488 multi-family residences and 17 single-family houses. Approvals were centered in Jersey City (410), where 397 multi-family units and 13 single-family houses were authorized.
The third-ranking county was Ocean with a total of 249 approvals, including 114 multi-family units and 135 single-family houses. Toms River Township led the county’s municipalities with a total of 120 units including 102 multi-family residences and 18 single-family houses.
Ranking fourth was Middlesex County where a total of 182 units were authorized including 97 units of multi-family housing and 85 single-family houses. The municipalities in the county with the most approvals were New Brunswick and Monroe Township. In New Brunswick, permits were issued for 43 units including 42 in multi-family structures and one single-family house. Monroe Township authorized 33 units, all of which were single-family houses. In fifth place was Union County where a total of 128 units were approved, including 101 multi-family residences and 27 single-family houses. The municipalities with the most units proposed were New Providence (30) and Elizabeth (22). In New Providence, authorizations included 29 multi-family units and one single-family structure. All of the units proposed for Elizabeth were multi-family.
Nationally, the issuance of building permits on a not seasonally adjusted basis rose by 9,701 or 13.0 percent over the month from 74,776 in January 2016 to 84,477 in February 2016. Across the United States, building permits went up over the year by 6,938 or 8.9 percent from February 2015 when issuances stood at 77,539. For the month of February 2016, single-family houses accounted for 62.8 percent of the units authorized, while 37.2 percent were in multi-family structures.
New Jersey’s total of 4,042 units authorized year-to-date through February 2016 was up by 313 or 8.4 percent compared to the February 2015 total of 3,729. The northern part of the state remains an important driver of housing demand in New Jersey as two counties (Hudson and Bergen) combined approved 1,494 units through February 2016 and were responsible for 37.0 percent of the statewide total. Hudson County ranked first among the state’s 21 counties and issued permits for 805 units, including 768 in multi-family structures and 37 single-family houses. Second-ranking Bergen County approved 689 units, including 588 multi-family residences and 101 single-family houses.
Ocean County (436 units) ranked third in the state for the most residences authorized. Of the units approved, 232 were single-family and 204 were multi-family. The county is located along the Atlantic coast in the southern part of the state and is favored by people who want to vacation or retire at the shore.
The New Jersey municipality with the most permit issues this year is Jersey City in Hudson County with a total of 680 units, including 652 units of multi-family housing as well as 28 single-family houses. Situated across from Manhattan, Jersey City is a desirable place to live for workers employed in the nation’s largest city. In second place is Fort Lee in Bergen County with a total of 461 issuances, including 460 units in multi-family structures and one single-family house. Ranking third is Absecon in Atlantic County. The city approved a total of 208 units, all in multi-family structures.
Across the United States, 159,876 units were authorized on a not seasonally adjusted basis year-to-date through February 2016. This represents a gain of 11,521 units or 7.8 percent over the level of February 2015 (148,355). Through February 2016, 61.7 percent of the units authorized were single-family. The remaining 38.3 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).