How long it takes to build an apartment building
Buildings with 20 or more units that finished in 2025 took an average of 19.1 months from start to completion, after 2.6 months from permit to start, according to the Census Bureau. That is up from 15 months in 2016. The Northeast is slowest and the Midwest fastest.
Permit to completion, 2025, buildings with 20+ units
- United States19.121.7 months
- Northeast23.525.7 months
- Midwest14.917.6 months
- South18.421.8 months
- West21.222.6 months
- Permit to start
- Start to completion
Start to completion by year (average months)
| Year | United States | Northeast | Midwest | South | West |
|---|---|---|---|---|---|
| 2025 | 19.1 | 23.5 | 14.9 | 18.4 | 21.2 |
| 2024 | 19.4 | 23.1 | 17.5 | 18.8 | 20.3 |
| 2023 | 18.9 | 23.2 | 16.8 | 18.4 | 20.1 |
| 2022 | 18.1 | 23 | 15.2 | 16.9 | 20.2 |
| 2021 | 17.2 | 22.6 | 14.7 | 16.3 | 19 |
| 2020 | 17.7 | 22.5 | 16.9 | 16.4 | 19.3 |
| 2019 | 17.2 | 22.4 | 15.1 | 15.3 | 18.4 |
| 2018 | 17.4 | 23.6 | 15.7 | 15.9 | 17.6 |
| 2017 | 15.7 | 19.6 | 14.1 | 14.7 | 17.2 |
| 2016 | 15 | 18.9 | 13.6 | 14.1 | 16.3 |
Smaller buildings, 2025
| Region | 5 to 9 units | 10 to 19 units | 20+ units |
|---|---|---|---|
| United States | 19 | 16.3 | 19.1 |
| Northeast | 24.9 | 24.5 | 23.5 |
| Midwest | 10.6 | 15.6 | 14.9 |
| South | 13.2 | 15.3 | 18.4 |
| West | 23.9 | 16.5 | 21.2 |
What it means for the loan
Construction months drive the interest budget on any construction loan and the upfront mortgage insurance on a HUD 221(d)(4), which charges 0.25% for each year of construction, rounded up (90 FR 45789). A 19-month build pays two years. HUD's own interest estimate adds two months to the construction period (MAP Guide 7.11.1), and its loans start amortizing four months after scheduled completion (MAP Guide 8.9.1).
These are averages across every building completed in the year, so they mix garden walk-ups with towers; podium and high-rise projects can run longer. The 5 to 9 unit averages rest on fewer buildings and swing more from year to year.
Source: U.S. Census Bureau and HUD, Survey of Construction, "Average Length of Time from Start to Completion" and "from Authorization to Start" (annual tables, data through 2025). Census doesn't publish a single 5+ unit figure, so the tables show its building-size groups.