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 1,937 units approved for construction in May. This is 1,514 fewer permits than the 3,451 issued in May 2015. This 43.9 percent loss resulted from fewer authorizations of units in multi-family (-1,500 units or -56.4%) structures and single-family houses (-14 units or -1.8%).
Over the month, the number of units authorized for construction fell by 550 units or 22.1 percent compared with April’s revised total of 2,487. This resulted from losses in authorizations of multi-family residences (-339 units or –22.6%) and single-family houses (-211 units or -21.4%). Of the units for which permits were issued in May, 59.9 percent (1,161) were multi-family and 40.1 percent (776) were single-family.
Middlesex County led the state with the most issuances of building permits with a total of 276. Of these, 203 units were in multi-family structures and 73 were single-family houses. Metuchen led the county’s municipalities with 112 approvals including 111 in multi-family structures and one single-family house.
In second place among the state’s 21 counties was Essex, where permits were issued for 245 units including 197 in multi-family buildings and 48 single-family houses. The municipality with the most authorizations was Irvington Township where 114 units were approved, all in multi-family structures.
The third-ranking county was Hudson with a total of 228 approvals, including 200 multi-family units and 28 single-family houses. The largest number of approvals were in West New York where 115 units were authorized, all in multi-family buildings. In second place among the county’s municipalities was Jersey City where permits were issued for 78 units, including 54 multi-family residences and 24 single-family houses.
Ranking fourth was Morris County where a total of 185 units were approved including 129 in multi-family structures and 56 single-family houses. Rockaway Township led the county’s municipalities in authorizations with 90 units, all in multi-family buildings. Rounding out the list of the state’s top five counties is Ocean County with 149 units approved, including 132 single-family houses and 17 multi-family residences. In Lakewood Township, 55 units were proposed including 45 single-family houses and 10 units of multi-family housing.
Nationally, the issuance of building permits on a not seasonally adjusted basis rose by 7,988 or 8.0 percent over the month from 99,688 in April 2016 to 107,676 in May 2016. Across the United States, building permits went down over the year by 3,459 or 3.1 percent from May 2015, when issuances stood at 111,135. For the month of May 2016, single-family houses accounted for 65.2 percent of the units authorized, while 34.8 percent were in multi-family structures.
New Jersey’s total of 11,191 units authorized year-to-date through May 2016 declined by 730 or 6.1 percent compared to the May 2015 total of 11,921. The northern part of the state remains an important driver of housing demand in New Jersey as two counties (Bergen and Hudson) combined approved 2,833 units through May 2016 and were responsible for 25.3 percent of the statewide total. Bergen County ranked first among the state’s 21 counties and issued permits for 1,482 units, including 1,081 in multi-family structures and 401 single-family houses. Third-ranking Hudson County approved 1,351 units, including 1,261 multi-family residences and 90 single-family houses.
Ocean County (1,394 units) ranked second in the state for the most residences authorized. Of the units approved, 838 were single-family and 556 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 1,045 units, including 976 of multi-family housing as well as 69 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 477 issuances, including 471 units in multi-family structures and six single-family houses. Ranking third is Toms River Township in Ocean County with a total of 326 units including 182 multi-family residences and 144 single-family houses.
Across the United States, 471,368 units were authorized on a not seasonally adjusted basis year-to-date through May 2016. This represents a gain of 13,249 units or 2.9 percent over the level of May 2015 (458,119). Through May 2016, 64.6 percent of the units authorized were single-family. The remaining 35.4 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).