October 2, 2023
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Ilena Peng - Bloomberg
More small multifamily homes are needed to help solve America's housing crisis, but they make up an ever-shrinking share of new housing construction.
Housing construction in the US has long focused on single-family homes and large apartment buildings, leaving a deficit of everything in between—sometimes referred to as “middle housing” by housing experts and advocates. While the number of new apartment building units recently reached the highest point in nearly half a century, the construction of denser alternatives to single-family homes made up just 1% of new housing units built in 2022. Legislators and advocates are pushing for that to change, arguing that middle housing could lower costs and alleviate a national housing shortage.