Last year, Florida experienced a 13% year-over-year increase in housing starts, resulting in more than 64,000 residential construction permits on file with HBW.
Across the Sunshine State, new residential construction was booming in 2016, making it the best year for total housing starts in more than five years. Every region experienced an increase in housing starts in comparison to 2015, and Central Florida led with a 10% year-over-year increase and nearly 13,600 permits on file for the year. In Central Florida, Orange County continued to shine as a hot place for new residential construction with more than 5,900 housing starts in 2016, the greatest number of starts for any county across the state.
West Florida was also flourishing last year as there were nearly 13,000 housing starts in the region, a 16% increase since 2015. The western county of Hillsborough (Tampa) was on top and ranked second statewide in comparison to other major counties as it experienced a 20% year-over-year increase in residential construction, resulting in nearly 4,500 housing starts.
Although ranked fourth for total starts on file for the year, Northeast Florida exhibited the greatest percentage of growth over the year. In the northeast region, there were nearly 10,200 housing starts last year, a 21% increase since 2015. Additionally, the northeastern county of Putnam ranked fourth statewide for total new permits on file with HBW as it had a 27% year-over-year increase in housing starts.
Here is a closer look at how regions across Florida stacked up over the year:
Although southeast Florida ranked lowest for total permits, it experienced a 5% increase in housing starts over the previous year. Additionally, the area continues to hold a higher value in residential construction. Out of the more than 6,300 housing starts in southeast Florida last year, 1,185 represented homes with values greater than $500k.
When it comes to higher value construction, the central portion of the state is gaining. In comparison to 2015, Central Florida experienced close to a 9% increase in new residential construction valued greater than $500k. Across the state, all regions with the exception of the southwest exhibited growth in higher value construction.
As previously mentioned, Central Florida and its expansive county of Orange took the lead for housing starts across the state. Other notable counties that gained attention for both growth and total new construction activity could be found in the northeastern, western and southwestern areas of the state. More specifically, Hillsborough County (West) ranked second highest for total housing starts as it experienced a 20% year-over-year increase in residential construction, resulting in close to 4,500 new permits in the HBW database. Lee County (SW) also exhibited a healthy year-over-year increase in residential construction (+13%) and ranked third highest for total housing starts (3,443 permits). Coming in close to Lee, St. Johns County (NE) had a whopping 27% year-over-year increase in housing starts, resulting in more than 3,400 new residential construction permits in 2016.
Information utilized for the graphs and above listed figures for Florida residential construction was directly derived from HBW construction data reports. To gain access to the HBW database and receive custom and detailed reports on the latest residential and commercial building activity in Florida, Georgia, Texas, Alabama, and Oklahoma, please contact HBW for details.