Dragonfly

Part
01
of eleven
Part
01

Multi-Family Construction Costs: San Francisco Bay Area

In order to determine the average square foot construction cost for multi-family housing in the San Francisco Bay Area, several figures from different sources were considered. Direct figures were not available on official public sources, which could be due to the difference in prices such as factors like labor availability and cost per area. Thus, In 2017, the average square foot construction cost for multi-family housing in the San Francisco Bay Area was US $318.80, while the average cost per year starting from 2008 to 2012 were $208.10, $218.20, $228.80, $239.90, $251.60, respectively.

The Average Construction Cost for Multi-family housing in the San Francisco Bay Area

Firstly, we added the constructions costs starting from 2013 to 2017 based on the category (1 to 3 stories, 4 to 7 stories and 8 to 24 stories) together. We then divided the respective amounts by 3 (according to the stories) to calculate the overall average for the respective years. Thus, the national overall averages starting from 2013 to 2017 are $170.20, $173.30, $183.10, $193.30 and $205.70, respectively. How we derived to the final figures is as follows:

In 2013: $(148.00+168.00+194.60)/3 = $170.20
In 2014: $(151.20+172.00+196.60)/3 = $173.30
In 2015: $(170.70+172.20+206.30)/3 = $183.10
In 2016: $(178.00+184.00+218.00)/3 = $193.30
In 2017: $(192.00+192.00+233.00)/3 = $205.70

Secondly, according to Bizjournals.com, in terms of construction costs, including multifamily construction costs, factors such as rising cost of materials also contributed to the San Francisco region having costs approximately 50% to 60% higher than the national average. If we use 55% as the average of these two figures, the average multifamily construction cost for San Francisco in 2017 was US$318.80 (205.70*1.55 = US$318.80). In addition, an article on Nessus Professional’s Bigger Pockets on the estimated construction costs for 2017 reflected a similar amount, at $300.

Thirdly, we did the same calculations for the year 2013 to 2016 and came up with the following figures:

2013 = $170.20*1.55 = $263.80
2014 = $173.30*1.55 = $268.60
2015 = $183.10*1.55 = $283.80
2016 = $193.30*1.55 = $299.60

The average cost per year beginning with 2008 to the most recent year available.

2008 to 2012 Compound Annual Growth Rate (CAGR)

Finally, the CAGR figure for the years 2013 to 2017 amounted to 4.85%. With this amount in mind, we calculated the average cost per year beginning with 2008 to 2012 and the results is as follows:

2012 = $263.80/1.0485 = $251.60
2011 = $251.60/1.0485 = $239.90
2010 = $239.90/1.0485 = $228.80
2009 = $228.80/1.0485 = $218.20
2008 = $218.20/1.0485 = $208.10

Conclusion


In conclusion, the average square foot construction cost for multi-family housing in the San Francisco Bay Area in 2017 was US $318.80 while the average cost per year starting from 2008 to 2012 ranges from $208 to $251 respectively.

Part
02
of eleven
Part
02

Largest Residential Developers/Builders: Multi-Family, California

The top 10 largest multi-family residential developers in California according to the number of units closed in 2016 are:

1. CalAtlantic Homes
2. KB Home
3. TRI Pointe Homes Inc.
4. Shea Homes
5. William Lyon Homes
6. Wermers Companies
7. The New Home Company
8. Albert D. Seeno Construction Co./ Discovery Builders
9. UCP Inc.
10. Trumark Companies

To compile this list, we started by searching for the largest multi-family residential developers/builders in the California area. Unfortunately, there was no pre-compiled public data or list article that specifically addressed your developers in California. As such, we did a nation-wide search of relevant developers, and then narrowed down the results to the most updated list that would allow us to filter appropriate builders in California. It is on the basis of this search and criteria that we settled on the list from the Professional Builder (Probuilder) website (which has 240 of the nation’s largest builders) as our primary source for the developers. Once we sieved the relevant developers in California from this list, we additionally searched the respective company profiles to help us compile information such as the total closings/units, housing revenue, units closed in California and the rank of the company in USA, as per the instructions on your question.
Please find a deep dive of our findings highlighted below.

1. CalAtlantic Homes

Location: Irvine, CA
2017 Rank (according to Probuilder): 4
2016 Total Closings/Units: 14,229
2016 Housing Revenue: 6,354,869,000
Units closed in CA: 2,261
Square footage information: No data available on the public domain

2. KB Home

Location: Los Angeles, CA
2017 Rank (according to Probuilder): 7
2016 Total Closings/Units: 9,829
2016 Housing Revenue: 3,575,548,000
Units closed in CA: 2,825
Square footage information: No data available on the public domain

3. TRI Pointe Homes Inc.

Location: Irvine, CA
2017 Rank (according to Probuilder): 11
2016 Total Closings/Units: 4,211
2016 Housing Revenue: 2,329,335,690
Units closed in CA: 1,689
Square footage information: No data available on the public domain

4. Shea Homes

Location: Walnut, CA
2017 Rank (according to Probuilder): 13
2016 Total Closings/Units: 3,349
2016 Housing Revenue: 1,823,948,000
Units closed in CA: 1,476
Square footage information: No data available on the public domain

5. William Lyon Homes

2017 Rank (according to Probuilder): 17
2016 Total Closings/Units: 2,790
2016 Housing Revenue: 1,406,039,973
Units closed in CA: 731
Square footage information: No data available on the public domain

6. Wermers Companies

Location: San Diego, CA
2017 Rank (according to Probuilder): 23
2016 Total Closings/Units: 2,950
2016 Housing Revenue: 885,000,000
Square footage information: No data available on the public domain

7. The New Home Company

Location: Aliso Viejo, CA
2017 Rank (according to Probuilder): 28
2016 Housing Revenue: 685,500,000
Units Closed in CA: 447
Square footage information: No data available on the public domain

8. Albert D. Seeno Construction Co./ Discovery Builders

Location: Concord, CA
2017 Rank (according to Probuilder): 44
2016 Total Closings/Units: 578
Units Closed in CA: 578
Square footage information: No data available on the public domain

9. UCP Inc.

Location: San Jose, CA
2017 Rank (according to Probuilder): 51
2016 Total Closings/Units: 820
2016 Housing Revenue: 343,918,776
Units Closed in CA: 487
Square footage information: No data available on the public domain

10. Trumark Companies

Location: San Ramon, CA
2017 Rank (according to Probuilder): 57
2016 Total Closings/Units: 186
2016 Housing Revenue: 271,531,085
Units Closed in CA: 186
Square footage information: No data available on the public domain

CONCLUSION

Based on the number of units closed in 2016 (according to Probuilder), the top 10 largest multi-family residential developers/builders in California are: CalAtlantic Homes, KB Home, TRI Pointe Homes Inc., Shea Homes, William Lyon Homes, Wermers Companies, The New Home Company, Albert D. Seeno Construction Co., UCP Inc. and Trumark Companies, respectively.


Part
03
of eleven
Part
03

Largest Residential Developers/Builders: Townhouses/Condominiums

Hello and thank you for your question submitted to Wonder.

Our research shows that the following are the top 10 largest developers/builders of residential townhouses/condominiums in California:

1. Lennar Corp.
2. D.R. Horton Inc.
3. PulteGroup Inc.
4. CalAtlantic Homes, formerly Standard Pacific Corp. (Ryland and Standard Pacific Corp. have merged to create CalAtlantic Homes)
5. Toll Brothers
6. Hovnanian Enterprises Inc.
7. William Lyon Homes
8. Shea Homes
9. KB Home
10. Meritage Homes Corp.
We will now provide further detail on these companies, and a methodology as to how we reached this conclusion.
1: Lennar Corp. listed 26,562 total closings in the year 2016. Of these, 5,632 were condo or townhouse units. Lennar Corp.'s total revenue for this period was $9,558,517,000 USD. In California, the company closed 4,316 units in total.
2: D.R. Horton Inc. listed 41,652 total closings in the year 2016. Of these, 4,520 were condo or townhouse units. D.R. Horton Inc.'s total revenue for this period was $12,239,900,000 USD. In California, the company closed 2,408 units in total.
3: PulteGroup Inc. listed 19,951 total closings in the year 2016. Of these, 2,528 were condo or townhouse units. PulteGroup Inc.'s total revenue for this period was $7,451,314,931 USD. In California, the company closed 1,302 units in total.
4: CalAtlantic Homes, formerly Standard Pacific Corp., listed 14,229 total closings in the year 2016. Of these, 2,124 were condo or townhouse units. CalAtlantic Homes' total revenue for this period was $6,354,869,000 USD. In California, the company closed 2,261 units in total.
5: Toll Brothers, listed 6,385 total closings in the year 2016. Of these, 945 were condo or townhouse units. Toll Brothers' total revenue for this period was $5,279,508,453 USD. In California, the company closed 1,006 units in total.
6: Hovnanian Enterprises Inc., listed 6,687 total closings in the year 2016. Of these, 911 were condo or townhouse units. Hovnanian Enterprises Inc.'s total revenue for this period was $2,733,741,000 USD. In California, the company closed 865 units in total.
7: William Lyon Homes, listed 2,790 total closings in the year 2016. Of these, 680 were condo or townhouse units. William Lyon Homes' total revenue for this period was $1,406,039,973. In California, the company closed 731 units in total.
8: Shea Homes, listed 3,349 total closings in the year 2016. Of these, 587 were condo or townhouse units. Shea Homes' total revenue for this period was $1,823,948,000 USD. In California, the company closed 1,476 units in total.
9: KB Home listed 9,829 total closings in the year 2016. Of these, 524 were condo or townhouse units. KB Home's total revenue for this period was $3,575,548,000 USD. In California, the company closed 2,825 units in total.
10: Meritage Homes Corp., listed 7,355 total closings in the year 2016. Of these, 247 were condo or townhouse units. Meritage Homes Corp.'s total revenue for this period was $3,003,426,000 USD. In California, the company closed 1,020 units in total.

METHODOLOGY

The companies above were selected based upon probuilder.com's list of largest professional builders from 2011, and re-ordered with updated figures. The units closed and revenue figures have been updated to 2016.

Those companies were listed in this order, based upon the number of total closings listed as townhouses/condominium units in 2016.

Of the original list, Sares-Regis Group, AvalonBay Communities, Albert D. Seeno Construction/Discovery Builders, Woodside Homes Weyerhaeuser Real Estate Company and Beazer Homes USA all present no data on building townhouses/condominiums, and so were omitted.

These companies were replaced in our findings by Hovnanian Enterprises Inc., William Lyon Homes, Meritage Homes Corp. and Toll Brothers, who all provide data on townhouses/condominiums units built.

Please note also that not all companies in our findings are headquartered in California. The builders not headquartered in California are the following: Meritage Homes Corp., Toll Brothers, PulteGroup Inc., Lennar Corp. and Hovnanian Enterprises Inc.

For all of the above, no data is publicly available with regard to square footage, so units built and revenue metrics have been provided.

CONCLUSION:
The top ten largest townhouses/condominiums residential developers/builders in California have been provided in our findings, in accordance with the metrics outlined. If you have any further queries, please do not hesitate to contact Wonder.
Part
04
of eleven
Part
04

Largest Residential Developers/Builders: Single Family

The top 10 residential SFD/SFA home builders in California ranked according to 2016 data related to number of units closed in the year 2016 are: Lennar Corp---4,316 units, KB Home---2,825 units, D.R. Horton Inc.--2,408 units, CalAtlantic Homes---2,261 Units, TRI Pointe Homes Inc.--1,689 Units, Shea Home---1,476 Units, PulteGroup Inc. ---1,302 Units, Meritage Homes Corp---1,020 Units, Toll Brothers----1,006 Units and Woodside Homes----966 Units. Below are our methodology and findings
METHODOLOGY
After doing research for the top residential builder's list for California, the state wise list is not available, so we searched for the top residential builders in the USA and managed to locate lists for top builders in the USA, we located many lists but we used a list that can be filtered by region. We filtered the list for the western region as California is located in the western region and it resulted in approximately forty results. Then we searched for each company profile and listed out the largest companies based on the numbers of units closed in California in the year 2016. We have included sources explaining abbreviations used SFD(Single-Family Detached Housing) /SFA (Single Family Attached Read) we have included map of USA divided into regions Note: Taylor Morrison & Beazer Homes USA are also in the list but recent state-wise data for these companies are not available after extensive search in real estate websites, official websites, real estate company listings/profiles, real estate news in California, real estate market report etc.
FINDINGS
As discussed above, the list of 10 of the largest Single Family residential developers/builders in California based on the number of units closed in the year 2016 are:
1. Lennar Corp had 4,316 Units in California
2. KB Homes had 2,825 Units in California
3. D.R. Horton Inc. had 2,408 Units in California
4. CalAtlantic Homes had 2,261 Units in California
5. TRI Pointe Homes Inc. had 1,689 Units in California
6. Shea Homes had 1,476 Units in California
7. PulteGroup Inc. had 1,302 Units in California
8. Meritage Homes Corp had 1,020 Units in California
9. Toll Brothers had 1,006 Units in California
10. Woodside Homes had 966 Units in California
CONCLUSION
From the research we did, the top 10 residential SFD/SFA home builders in California ranked according to 2016 data related to nof units closed in the year 2016 are: Lennar Corp---4,316 units, KB Home---2,825 units, D.R. Horton Inc.--2,408 units, CalAtlantic Homes---2,261 Units, TRI Pointe Homes Inc.--1,689 Units, Shea Home---1,476 Units, PulteGroup Inc. ---1,302 Units, Meritage Homes Corp---1,020 Units, Toll Brothers----1,006 Units and Woodside Homes----966 Units.

Part
05
of eleven
Part
05

Number of Multi-Family Units Built: SanFrancisco

The multi-family housing units built in San Francisco area for the years 2013, 2014, 2015, 2016 and 2017 were 2,475, 3,621, 3,047, 4,829 and 4,463 units respectively. The estimated number of multi-family units that will be built from the years 2018, 2019, 2020, 2021 and 2022 are 5,021, 5,647, 6,353, 7,147, and 8,040 units respectively. Below is our research in details.

Multi-family units built

We search for data on MF buildings in from trusted annual reports on housing inventory by the San Francisco Planning Department. The data in the report that was based on county is the number of approved building unit for various counties and not the actual units built. Also, the figures, by county, didn't clearly differentiate the type of units. However, we found the requested data on San Francisco area, clearly specifying the type of units actually built annually, as such, we went ahead with the following calculations.

2013

In 2013, 2,499 new housing units were constructed. 24 units were for single-family homes. Therefore, the total number of MF units constructed was 2,499-24=2,475.

2014

In 2014, 3,654 new housing units were constructed. 33 units were for single-family homes. Therefore, the total number of MF units constructed was 3,654-33=3,621.

2015

In 2015, 3,095 new housing units were constructed. 48 units were for single-family homes. Therefore, the total number of MF units constructed was 3,095-48=3,047.

2016

In 2016, 4,895 new housing units were constructed. 66 units were for single-family homes. Therefore, the total number of MF units constructed was 4,895-66=4,829.

2017

In 2017, 4,511 new housing units were constructed. 48 units were for single-family homes. Therefore, the total number of MF units constructed was 4,511-48=4,463.

estimated multi-family units

To estimate the number of units that would be built from 2018 to 2022, we have to determine the CAGR of the past constructed units in San Francisco. To determine this, we use this formula [(Ending Value / Beginning Value)^(1/Number of years) - 1] or by simply through this link. Our variables are:
Ending value=4,463 (2017 MF units)
Beginning value=2,475 (2013 MF units)
Number of years=5 years (from 2013 to 2017)

Therefore, CARG of MF housing units is 12.51%.

Assuming this CAGR is maintained, we now estimate the projected units of MF housing that would be constructed in the calculations below.

2018

If 4,463 MF housing units were built in 2017, 4463*1.125=5,021 MF units would be built in 2018.

2019

If 5,021 MF housing units are built in 2018, 5,021*1.125=5,647 MF units would be built in 2019.

2020

If 5,647 MF housing units are built in 2019, 5,647*1.125=6,353 MF units would be built in 2020.

2021

If 6,353 MF units are built in 2020, 6,353*1.125=7,147 MF units would be built in 2021.

2022

If 7,147 MF units are built in 2021, 7,147*1.125=8,040 MF units would be built in 2022.

conclusion

To wrap up, the multi-family housing units built in San Francisco area for the years 2013, 2014, 2015, 2016 and 2017 were 2,475, 3,621, 3,047, 4,829 and 4,463 units respectively. The estimated number of multi-family units that will be built from the years 2018, 2019, 2020, 2021 and 2022 are 5,021, 5,647, 6,353, 7,147, and 8,040 units respectively.
Part
06
of eleven
Part
06

Number of Single Family Units Built: SanFrancisco

The number of single family residential units built in the San Francisco area in 2013, 2014, 2015, 2016, and 2017 was 24, 33, 48, 66, and 48 respectively. The estimated number of single family units that will be built during 2018, 2019, 2020, 2021, and 2022 is 57, 68, 81, 96, and 114 respectively.

To compile this data, we thoroughly examined housing inventory reports for the San Francisco area. While an extensive search suggests that county-specific data is not publicly available, we have provided all requested area-wide information. To forecast the number of units that will be built annually from 2018 to 2022 in the San Francisco area, we first calculated the compound annual growth rate (CAGR) in single family units from 2013 to 2017 with a CAGR calculator that uses the following industry-wide formula:

CAGR = [(ending value/beginning value) raised to the power of (1/# of years)] - 1

Thus, as there were 24 single family units built in 2013 and 48 in 2017, CAGR for the period of 2013 to 2017 is calculated as:

[(48/24)^(1/4) - 1] = 18.92%

We then used this percentage to forecast the number of single family units that will be built per year using the following formula:

(number of units built in previous year)*18.92% + (number of units built in previous year) = number of units built in given year

All requested data and calculations are outlined below.

KEY FINDINGS

Number of single family residential units built in the San Francisco area in:

2013: 24
2014: 33
2015: 48
2016: 66
2017: 48

CAGR 2013-2017: 18.92%
[(48/24)^(1/4) - 1] = .1892 = 18.92%

Estimated number of single family units that will be built in the San Francisco area in:

2018: 57
48*18.92% = 9.1
9.1 + 48 = 57

2019: 68
57*18.92% = 10.7
10.7 + 57 = 68

2020: 81
68*18.92% = 12.86
12.86 + 68 = 81

2021: 96
81*18.92% = 15.32
15.32 + 81 =96

2022: 114
96*18.92% = 18.16
18.16 + 96 =114

CONCLUSION

The number of single family residential units built in the San Francisco area from 2013-2017 ranged from 24 to 66 annually. The estimated number of single family units that will be built from 2018 to 2022 will range from 57 to 114 annually. All information has been compiled from San Francisco area-wide housing inventory reports and forecasted using the 2013 to 2017 CAGR. County-specific data is not publicly available.
Part
07
of eleven
Part
07

Largest Residential Developers/Builders: Multi-Family, United States

The top developers for multi-family residential building in the United States based on the total number of units developed (started) in 2017 are Greystar Real Estate Partners (5,651 units), Mill Creek Residential (5,293 units), Wood Partners (5,191 units), Alliance Residential (5,170 units), Lincoln Property Company (5,002 units), Trammell Crow Residential (3,863 units), LMC, a Lennar company (3,742 units), Continental Properties Company, Inc. (3,140 units), JPI (2,832 units), and The Michaels Organization (2,768 units).

According to the US Census Bureau, there were a total of 321,000 multifamily units completed in 2016, consisting of 13,000 multifamily buildings.

METHODOLOGY

To determine the 10 largest multi-family residential developers in the US, we utilized the report released by the National Multifamily Housing Council's authoritative ranking of the nation's "Top 25 Developers" in 2018 based on 2017 number of multi-housing units started/developed by these developers. Since NMHC also has another ranking for 'top builders' in this sector, we've used the list for top developers and therefore, what we are providing here is the list of the 10 largest multi-housing developers in the United States.

While total square footage for each developer was not available in the public domain, we estimated the figures by using the average area of multi-housing completed in 2016 based from the Census Bureau data and multiply it with the total units completed by these developers in 2017. According to the US Census Bureau, "the median size of multifamily units built for rent was 1,085 square feet, while the median of those built for sale was 1,706 square feet." On average, the area of 1 unit is about 1,080.50 square feet [(1,085+1,706)/2]. Its market share was calculated based on developer's 2016 figure and divided it with the nation's total multi-housing number of units completed in 2016 then multiplied by 100.

10 LARGEST MULTI-HOUSING DEVELOPERS IN THE UNITED STATES

1. GREYSTAR REAL ESTATE PARTNERS

Number of units started in 2017: 5,651 units
Number of units started in 2016: 7,673 units

Estimated square footage in 2017: 6.105 million sq.ft
[Calculation: 5,651 units * 1,080.50 square feet]

% share based on number of units in 2016: 2.39%
[Calculation: (7,673 units/321,000 units)*100]

2. MILL CREEK RESIDENTIAL

Headquarters: Dallas, Texas
Number of units started in 2017: 5,293 units
Number of units started in 2016: 5,081 units

Estimated square footage in 2017: 5.719 million sq.ft
[Calculation: 5,293 units * 1,080.50 square feet]

% share based on number of units in 2016: 1.58%
[Calculation: (5,081 units/321,000 units)*100]

3. WOOD PARTNERS

Headquarters: Atlanta, Georgia
Number of units started in 2017: 5,191 units
Number of units started in 2016: 3,468 units

Estimated square footage in 2017: 5.609 million sq.ft
[Calculation: 5,191 units * 1,080.50 square feet]

% share based on number of units in 2016: 1.08%
[Calculation: (3,468 units/321,000 units)*100]

4. ALLIANCE RESIDENTIAL

Headquarters: Phoenix, Arizona
Number of units started in 2017: 5,170 units
Number of units started in 2016: 7,104 units

Estimated square footage in 2017: 5.586 million sq.ft
[Calculation: 5,170 units * 1,080.50 square feet]

% share based on number of units in 2016: 2.21%
[Calculation: (7,104 units/321,000 units)*100]

5. LINCOLN PROPERTY COMPANY

Headquarters: Dallas, Texas
Number of units started in 2017: 5,002 units
Number of units started in 2016: 4,343 units

Estimated square footage in 2017: 5.405 million sq.ft
[Calculation: 5,002 units * 1,080.50 square feet]

% share based on number of units in 2016: 1.35%
[Calculation: (4,343 units/321,000 units)*100]

6. TRAMMELL CROW RESIDENTIAL

Headquarters: Dallas, Texas
Number of units started in 2017: 3,863 units
Number of units started in 2016: 4,517 units

Estimated square footage in 2017: 4.174 million sq.ft
[Calculation: 3,863 units * 1,080.50 square feet]

% share based on number of units in 2016: 1.41%
[Calculation: (4,517 units/321,000 units)*100]

7. LMC, A LENNAR COMPANY

Headquarters: Charlotte, North Carolina
Number of units started in 2017: 3,742 units
Number of units started in 2016: 6,244 units

Estimated square footage in 2017: 4.043 million sq.ft
[Calculation: 3,742 units * 1,080.50 square feet]

% share based on number of units in 2016: 1.95%
[Calculation: (6,244 units/321,000 units)*100]

8. CONTINENTAL PROPERTIES COMPANY, INC.

Number of units started in 2017: 3,140 units
Number of units started in 2016: 3,175 units

Estimated square footage in 2017: 3.393 million sq.ft
[Calculation: 3,140 units * 1,080.50 square feet]

% share based on number of units in 2016: 1.0%
[Calculation: (3,175 units/321,000 units)*100]

9. JPI

Headquarters: Irving, Texas
Number of units started in 2017: 2,832 units
Number of units started in 2016: 1,643 units

Estimated square footage in 2017: 3.060million sq.ft
[Calculation: 2,832 units * 1,080.50 square feet]

% share based on number of units in 2016: 0.51%
[Calculation: (1,643 units/321,000 units)*100]

10. THE MICHAELS ORGANIZATION

Headquarters: Marlton, New Jersey
Number of units started in 2017: 2,768 units
Number of units started in 2016: 3,443 units

Estimated square footage in 2017: 2.991 million sq.ft
[Calculation: 2,768 units * 1,080.50 square feet]

% share based on number of units in 2016: 1.07%
[Calculation: (3,443 units/321,000 units)*100]


CONCLUSION

From the above data, the total number of multi-housing units completed by these 10 largest developers in 2017 was 42,652 units and about 46.085 million square feet in total. Greystar Real Estate Partners snatched the top spot with 5,651 units (about 6.105 million square feet) in 2017 and 7,673 units in 2016. Mill Creek Residential and Wood Partners comes in next with 5,293 units and 5,191 units started in 2017.

Part
08
of eleven
Part
08

Largest Residential Developers/Builders: Single Family, United States

The largest Residential Developers/Builders : Single Family in the United States have been determined on the basis of revenue. In addition, the number of units closed by each developer has also been taken into account. None of the builders did any development outside of residential houses.


Methodology

When defining the term largest I took into account the possibility of various definitions namely square footage, units built or revenue. The research showed that the term was based on revenue. This was based on an annual Housing Giant list compiled by the Professional Builders for the year 2016. I focused on the top ten listed developers.
Additional research on the builders showed that there were two types of housing. That is SFA (Single Family Attached) and SFA (Single Family Detached). The individual pages further indicated the number of units closed.

Lets us take a deep dive into the findings

Findings


1. D. R. Horton Inc. had a revenue of $12.239M in the year 2016. The total number of units closed was 41,652 inclusive of SFA/SFD.

2. Lennar Corp. had a revenue of $9,558M in the year 2016. The total number of units closed was 26,562 inclusive of SFA/SFD.

3. PulteGroup Inc. was ranked third with a revenue of $7,451M. The total number of units closed was 19,951 units.

4. CalAtlantic Homes earned a revenue of $6,354M with a total of 14,229 units.
5. NVR Inc. came fifth in ranking with $5,709M, closed 14,938 units that year.

6. Toll Brothers generated a revenue of $5,279M from 6,385 units.

7. Taylor Morrison generated a revenue of $3,425M and closed 7,369 units.

8. KB Home had a revenue of $3,575M. They closed a total 9,829 units.

9. Meritage Homes Corp. had a revenue of $3,003M and closed 7,355 units.

10. Hovnanian Enterprises Inc. had a revenue of $2,733M with 6,687 units.

I hope I have answered your question. Thank you for using Ask Wonder
Part
09
of eleven
Part
09

Average Electrician Cost for Multi-Family: California, Texas, and Florida.

The average costs of electrical construction work on multi-family housing developments or complexes were estimated to be $74,300.80 in California, $48,537.60 in Texas, and $43,581.44 in Florida. No readily available data were found to identify the above answers, but the total number of construction hours of multi-family buildings was calculated and multiplied by the wage per hour of electricians by state, resulting in the above estimates. All assumptions made, calculations conducted, and data used to reach the answers above have been compiled below.

Methodology

Even after thorough searches through the public domain, direct data was lacking on the average cost of electrician work for multi-family constructions in California, Texas, and Florida. As a result, the average hourly wage of electricians by state was identified instead. From this, the average hourly wage needed only to be multiplied with the average total construction hours of a multi-family structure to reach the answers required for this request. Two assumptions were made in this calculation, in order to paint an accurate enough picture for average total costs of electrician work: 1) that the average hourly wages of an electrician equals the costs paid by developers for an electrician, and 2) that the average total construction hours of multi-family dwellings equals the average total work hours accomplished by electricians for such projects. In light of insufficient data in the public domain on the number of work hours electricians render on average for multi-family constructions, the above assumptions had to suffice.

In other words then: Electrician Wage Per Hour * Total Construction Hours = Total Cost of Electrician Work. For easier reference further on, this calculation is Equation 1.

With this calculation in mind, the total construction hours of multi-family buildings still needed to be identified, yet no readily available data was found again. The average total months required to construct multi-family structures by region was found, however, and the average number of working days per month was also located. Assuming that average work hours per day for electricians number 8 hours (like all the other average work hours per day), multiplied with the average total months for construction and the average number of working days a month, the average total construction hours of multi-family developments or complexes were pinpointed.

In mathematical terms: Average Total Months for Construction * Average Number of Working Days Per Month * Average Work Hours Per Day = Average Total Construction Hours. Like Equation 1, for easy reference, the calculation above is Equation 2.

With the following assumptions and calculations, the average total cost of electrical construction work for multi-family dwellings in California, Texas, and Florida were estimated as illustrated below.

Average total Construction Hours On Multi-Family Dwellings

In order to fully use Equation 1 to answer the request, Equation 2 first needed to be accomplished. As such, based on data by the United States Census Bureau, the average length of time it took to construct residential buildings with 2 units or more (which are multi-family dwellings) in 2017 was 14 months for western states, and 12.8 months for southern states. Subsequently, with California obviously being part of the western states, and with the Census Bureau classifying Texas and Florida as part of the South, the average number of months needed for the construction of multi-family dwellings then were 14 months in California, and 12.8 months in Texas and Florida.

Now, based on an Electrical Contractor Magazine article about calculating manpower costs (which was deemed authoritative given the magazine's focus on the "field of electrical construction"), the average number of working days is 20 days and the average number of work hours per day is 8 hours.

With these data, according to Equation 2, for California: 14 months * 20 working days per month * 8 work hours per day = 2,240 average construction hours.

For Texas and Florida: 12.8 months * 20 working days per month * 8 work hours per day = 2,048 average construction hours.

Average Total Costs of Electrical Work for Multi-Family Constructions

According to the Bureau of Labor Statistics of the U.S. Department of Labor, the average hourly wages of electricians as of May 2017 were $33.17 per hour in California, $23.70 per hour in Texas, and $21.28 per hour in Florida. Based on this data, and with the calculations that yielded the average total construction hours of multi-family dwellings in California, Texas, and Florida, Equation 1 could then be accomplished.

As such, according to Equation 1, for California: $33.17 per hour * 2,240 average construction hours = $74,300.80 in electrical work cost.

For Texas: $23.70 per hour * 2,048 average construction hours = $48,537.60 in electrical work cost.

Finally, for Florida: $21.28 per hour * 2,048 average construction hours = $43,581.44 in electrical work cost.

Conclusion

In summary then, assuming that the hourly wages of electricians equal the costs of electrical work, and that electricians work for the entire construction cycle of multi-family buildings, the average total costs of electrical work on such projects are $74,300.80 in California, $48,537.60 in Texas, and $43,581.44 in Florida.


Part
10
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Part
10

Average Electrician Cost for Multi-Family: New York, Illinois, Pennsylvania

While there is no preexisting information to fully answer your question, we've used the available data to pull together related information on the average electrical construction work cost for multi-family housing units in New York, Illinois, and Pennsylvania. Key insights suggest that the average cost to wire a 1,200 square feet house in the US is $10,400. The average cost per hour for an electrician in the US is between $65 to $85 per hour.

Below, you will find an outline of our research methodology to better understand why the information you've requested is publicly unavailable, as well as a deep dive into our useful findings.

methodology

We started by searching government websites for each state and United States in general. We searched for websites that specialize in providing information on housing, relevant blog posts, listing websites such as HomeAdvisors, Fixr, Trulia, for information on the average electrical construction work cost for multi-family housing units in New York, Illinois, and Pennsylvania. Unfortunately, no such information exists and triangulation proved impossible, as data availability specific to cost of electrical work on MF housing units constructed in the requested states is largely unavailable.

After an exhaustive search, we concluded that the likely reason for the non-availability of the requested information is because of details on the cost of electrical construction for MF housing units not made available to the public domain. However, we were able to find data related to the cost of electrical work. We have used the available information to pull together these useful findings.

related findings

a. According to a Census report from the US Department of housing and urban development, there were 321,000 MF units built in the US in 2016. For an MF unit built for rent, the average size is 1,085 square feet, while a MF units built for sale averages 1,706 square feet.

b. To rewire a 1,500 to 3,000 square-foot unit, it is expected that the electrician would be paid between $8,000 to $15,000 depending on the size of the building.

c. According to price estimate from Fixr, the average cost to wire a 1,200 square feet house in the US is $10,400. By simple division, we determine that it would cost an average of (10400/1200)= $8.67 per square feet to wire a house in the US.
A break down of the cost is as follows:
1. Labor: Average cost of labor, depending on the size of the building and the qualification of the electrician is between $65 to $85 per hour. And it could take on the average 2 hours to wire a house. Therefore, the labor cost is estimated to be between $130-$170.
2. Opening walls and running wires: To run the wires would cost an average of between $3,500-$8,000 for an average room.
3. New wiring: To lay new wires would take an average of 1 hour per 100 square feet. The materials would cost between $6-$8 per foot. Labor cost and cost of materials would average around $7,800 and $4,800 respectively.
4. Adding outlets and switches: Each space would have 2 or 3 outlets. Outlet's would cost about $100-$185 each.
The above cost is specifically for new wiring rather than wiring upgrade.

d. New York electricians costs and prices: The following costs are specific to New York, but not specific to MF units.
1. For rewiring: It ranges from $117 — $136 per hour.
2. For electrical fixture installation: It would require a fixed cost of between $191 — $221 to install a 120v outlet, $225 — $350 for 240v outlets, $225 — $350 for middle-grade light switches. Then between $102 — $160 per hour for labor cost.
3. For a residential electrical contractor, it would cost about $96 — $122 per hour. While for a commercial electrical contractor, it would cost about $116 — $139 per hour.

e. Philadelphia, Pennsylvania electricians costs and prices: The following costs are specific to Pennsylvania, but not specific to MF units.
1. For rewiring: It ranges from $92 — $103 per hour.
2. For electrical fixture installation: It would require a fixed cost of $110 — $127 to install a 120v outlet, $45 — $55 for 240v outlets, $30 — $40 for middle-grade light switches. The labor costs between $52 — $55 per hour.
3. For a residential electrical contractor, it would cost about $75 — $91 per hour. While for a commercial electrical contractor, it would cost about $98 — $107 per hour.

f. Chicago, Illinois electricians costs and prices: The following costs are specific to Illinois, but not specific to MF units.
1. For rewiring: It ranges from $89 — $99 per hour.
2. For electrical fixture installation: It would require a fixed cost of between $145 — $165 to install a 120v outlet.
3. For a residential electrical contractor, it would cost about $72 — $88 per hour. While for a commercial electrical contractor, it would cost about $95 — $103 per hour.

g. There is also a general electric permit cost of $900 in the US.

conclusion

To wrap up, information on the average electrical construction work cost for multi-family housing units in New York, Illinois, and Pennsylvania is largely unavailable. However, we were able to find helpful information related to the research request. Notably, according to price estimate from Fixr, the average cost to wire a 1,200 square feet house in the US is $10,400. The average cost per hour for an electrician in the US is between $65 to $85 per hour.
Part
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Part
11

Average Electrician Cost for Multi-Family: Ohio, Georgia, North Carolina, Michigan

Introduction

While there is no preexisting information to fully answer your question, we've used the available data to pull together key findings. Our researchers found information on the average costs for electricians for each state: Michigan-$300, Ohio-$265, Georgia-$289, and North Carolina-$255. We also found these averages broken down by specific cities: Akron, Ohio-$72 per hour, Atlanta, Georgia-$68.55 per hour, Charlotte, North Carolina-$67.11 per hour, Detroit, Michigan-$68.07 per hour. Lastly we were able to find some average expense breakdowns on the national level for wiring a 1200 sq ft. home. This source shows the overall national average for this task to run about $10,400. Below you'll find an outline of our research methodology to better understand why information you've requested is publicly unavailable, as well as a deep dive into our findings.

Methodology

Unfortunately our research indicates that not enough information is publicly available to directly answer the submitted request. Our researchers were unable to find information which directly gave average electrical cost for multi-family housing in Ohio, Georgia, North Carolina, and Michigan. Nor could we find information closely enough related to make assumptions and calculations from to arrive at a complete answer.

We found an overall lack of articles, blogs, studies, or research in this field and could not find any companies, agencies, or organizations which have taken up looking into this field.

When our researchers first could not find the electrical cost for multi-family housing in these states, we then attempted to find general infrastructure cost as a starting off point but this information was also not publicly available.

Helpful findings

Even though we were unable to directly answer your request we have provided some findings which may be of use. We found the average cost for hiring an electrician in each state: Michigan-$300, Ohio-$265, Georgia-$289, and North Carolina-$255. We were even able to find some breakdowns of these prices by specific cities. Akron, Ohio's average cost for a residential electrical contractor is $72 per hour (plus parts and materials). Atlanta, Georgia's average cost for a residential electrical contractor is $68.55 per hour (plus parts and materials). Charlotte, North Carolina's average cost for a residential electrical contractor is $67.11 per hour (plus parts and materials). Detroit, Michigan's average cost for a residential electrical contractor is $68.07 per hour (plus parts and materials).

Finally, we found some relevant figures at the national level. The cost for wiring a single home is broken down into three parts. Labor will depend on the amount of work required and skill level of the working technicians. The hourly rate for electricians is on average between $65 and $85 per hour. For a 1200 sq ft. home this job is estimated to take two hours. This brings labor costs to $130-$170 on average. Upgrading the electrical service panel from a 60 amp to a modern standard 200 amp panel can cost between $800-$3000 according to the National Association of Home Builders. This will need to be done for sure on any homes older than 40 years. Having to lay all new wires can also be broken down. Typically, labor for this process is charged at 1 hour per 100 sq ft. meaning a 1200 sq ft. home would be charged around $7800 for labor. The material cost of the new wires themselves are about $6-$8 per ft which would total out at about $4800.

Conclusion

Although we were unable to find the information to directly answer your request we hope the national (average cost to rewire a home $10,400), state (average costs for electricians: Michigan-$300, Ohio-$265, Georgia-$289, and North Carolina-$255.), and city (average electrician hourly rate: Akron-$72 per hour, Atlanta-$68.55 per hour, Charlotte-$67.11 per hour, Detroit-$68.07 per hour) breakdowns we were able to provide can be of use.
Sources
Sources