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 2,539 units approved for construction in August. This is 194 more permits than the 2,345 issued in August 2015. This 8.3 percent gain was the result of more authorizations of units in multi-family structures (+346 units or +23.6%) partially offset by fewer approvals of single-family houses (-152 units or -17.3%).
Over the month, the number of units authorized for construction rose by 965 units or 61.3 percent compared with July’s revised total of 1,574. This resulted from gains in approvals of multi-family residences (+1,009 units or 125.8%) partially offset by losses in authorizations of single-family houses (-44 units or -5.7%). 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 August, 71.3 percent (1,811) were multi-family and 28.7 percent (728) were single-family.
Hudson County led the state with the most issuances of building permits with a total of 715. Of these, 710 units were in multi-family structures and five were single-family houses. Secaucus led the county’s municipalities with 481 approvals. Of these, 480 were multi-family residences and one was a single-family house.
In second place among the state’s 21 counties was Bergen, where permits were issued for 495 units including 387 in multi-family buildings and 108 single-family houses. Englewood was the municipality in the county with the most approvals (185 units). All of the units proposed were multi-family.
The third-ranking county was Middlesex with a total of 232 approvals, including 195 multi-family residences and 37 single-family houses. The municipality with the most authorizations was Woodbridge Township, where 121 units were allowed, including 120 in multi-family structures and one single-family house.
Ranking fourth was Ocean County where a total of 214 units were approved including 114 single-family houses and 100 in multi-family buildings. Lakewood Township led the county’s municipalities in authorizations with 125 units, including 100 multi-family residences and 25 single-family houses. Rounding out the list of the state’s top five counties is Monmouth County with 148 units approved. Of these, 90 were single-family houses and 58 were in multi-family buildings. Long Branch led the county’s municipalities in approvals with 47 units. All of this housing was in multi-family structures.
Nationally, the issuance of building permits on a not seasonally adjusted basis rose by 13,296 over the month from 95,125 in July 2016 to 108,421 in August 2016. Across the United States, building permits were up over the year by 11,223 or 11.5 percent from August 2015, when issuances stood at 97,198. For the month of August 2016, single-family houses accounted for 65.6 percent of the units authorized, while 34.4 percent were in multi-family structures.
New Jersey’s total of 18,052 units authorized year-to-date through August 2016 was down by 3,322 or 15.5 percent compared to the August 2015 total of 21,374. The northern part of the state remains an important driver of housing demand in New Jersey as two counties (Hudson and Bergen) combined approved 4,923 units through August 2016 and were responsible for 27.3 percent of the statewide total. Hudson County ranked first among the state’s 21 counties and issued permits for 2,641 units, including 2,454 in multi-family structures and 187 single-family houses. Second-ranking Bergen County approved 2,282 units, including 1,592 multi-family residences and 690 single-family houses.
Ocean County (1,927 units) ranked third in the state for the most residences authorized. Of the units approved, 1,261 were single-family and 666 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 three municipalities with the most permit issues in New Jersey were all located in Hudson County. In first place was Jersey City with a total of 1,062 units, including 978 in multi-family structures and 84 single-family houses. Secaucus ranked second with a total of 614 issuances, including 606 units in multi-family buildings and eight single-family houses. Ranking third was Weehawken Township with 548 units, including 481 multi-family residences and 67 single-family buildings.
Across the United States year-to-date through August 2016, permit authorizations were nearly flat compared with August 2015. In the current year, 791,513 permits were issued vs. 791,293 over the same period last year. This represents a gain of 220 units. Through August 2016, 64.5 percent of the units authorized were single-family. The remaining 35.5 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).