In the Albuquerque metro area, multifamily housing permitting is increasing rapidly. Building permits for 4,021 new housing units were issued in Albuquerque during 2021, and 35% of those were for apartment buildings with five units or more.

In comparison, half a decade earlier, only 20.3% of all permits for new housing units were for apartment buildings. The 14.8% jump in Albuquerque apartment construction from 2016 to 2021 ranks as the 10th largest increase among all U.S. metro areas.

Sources: New Apartment Construction is Booming in Albuquerque, NM, The Center Square, October 7, 2022

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