Florida Residential Construction Report – May 2024

Last month, there were 7,200 new residential construction permits added to the HBW database for the Sunshine State. Out of the five major regions reviewed (Southwest, Tampa, Orlando, Southeast, Jacksonville), the southwest ranked #1 for new permitting activity (1,813 permits), while the highest average value of new home construction could be found in the Southeast (average value: $361,005).

Here is a closer look at new residential construction permit totals by area, along with average value of construction and leading counties in each region:

Southwest

As previously noted, there were 1,813 new residential construction permits with a total value in excess of $612.2 million in the southwestern region of Florida last month.  The average value of new construction was $337,697, and more than half of all new construction activity took place in the two counties of Lee (526 permits) and Manatee (489 permits).

Tampa

Not far behind the southwestern region, the Tampa area had 1,745 new residential construction permits with a total value in excess of $578 million on record last month. The average value of construction was $331,310, and the county with the greatest concentration of new home construction activity was Polk County (712 permits).

Jacksonville

In Jacksonville, there 1,446 new residential construction permits with a total value of approximately $399.3 million on record last month.  The average value of construction was lowest in Jacksonville (average value: $276,139) in comparison to other Florida regions reviewed, and more than half of all new permits originated from the counties of Duval (582 permits) and St. Johns County (398 permits).

Orlando

Last month, there were more than 1,375 new residential construction permits with a total value of approximately $435.5 million added to the HBW database for Orlando.  The average value of construction was $316,249, and more than half of all new permits originated from the two counties of Lake (420 permits) and Orange (372 permits).

Southeast

Last month, there were approximately 820 new residential construction permits with a total value of nearly $296 million on record with HBW for the Southeast.  The average value of new home construction was highest in the area (average value: $361,005) in comparison to other Florida regions reviewed, and more than half of all new permits originated from the two counties of St. Lucie (364 permits) and Palm Beach (190).

To gain more information on the builders, homeowners and permits for the construction activity above, check out HBW for your copy of the latest 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.

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