NYC Lags Northeast in New Housing Approvals

New York City approved less new housing per resident than any other Northeast city in 2020, the New York Post reported. Just 2.4 new units were permitted per 1,000 New Yorkers in 2020, the last full year on record, according to data from the U.S. Census Building Permits survey.

That’s fewer than Baltimore (2.8), Philadelphia (3.6), Boston (5.1) Newark (5.3), New Haven (5.6) or Washington, DC. (10.3). Outside the region, Miami and Austin permitted 7.6 and 17.8 per 1,000 residents, respectively, in 2020.

“New York City is failing to produce enough rental housing, particularly at below-market rents, to keep up with population growth — and it’s making the housing crisis even worse,” James Whalen, president of the Real Estate Board of New York, told the Post.

Will Thomas, executive director of Open New York, blamed the city’s “uniquely strict zoning.” Fewer homes means a tighter market, he added, and higher prices.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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