What’s The Economic Impact Of Building 1,000 Homes vs. Apartments?

WASHINGTON, D.C. (National Association of Home Builders) – Nationally, building 1,000 average single-family homes generates 2,975 jobs and $111 million in taxes and fees for all levels of government. That’s according to data compiled by the National Association of Home Builders.

Meanwhile, building 1,000 average apartment units generates 1,133 jobs and $42.4 million in taxes.

The jobs are measured in full-time equivalents (enough work to keep one worker employed full-time for a year), and are broad-based.

Although a substantial share of the employment is generated in the construction industry, other jobs are created for employees in firms that manufacture building products, transport and sell those products, and provide professional services to builders and buyers (e.g., architects and real estate agents).

This article originally published by Real Estate Center Online News.