Staten Island Accounted For Nearly 3/4’s Of All Single-Family Housing Permits Issued In NYC From 1980-2023 – Main Residential Powerhouse For Suburban Charm Within Urban Limits
Staten Island is NYC’s Main Residential Powerhouse, with three fourths of all single-family housing permits issued for the island among New York City’s boroughs.
Editor’s note: Readers may remember that Staten Island is also the borough with the most owner-occupied residences in all of NYC. The number of millionaire renters has also tripled since 2015.
The following information was provided by Maria Gatea at StorageCafe:
Staten Island has accounted for nearly three-quarters of all single-family housing permits issued in New York City from 1980 to 2023—31,000 out of the city’s total 43,000—highlighting it as the city’s main residential powerhouse for those seeking a touch of suburban charm within urban limits. During the same period, nearly 38,000 multifamily permits were also issued.
While the housing market remains active, the level of activity has significantly decreased in the current decade compared to the peak seen during the 1980s heyday. In the first half of the 2020s, the average number of building permits issued annually hovers around 120 for single-family homes and 400 for multifamily units – roughly 9.4% and 27% of the annual output in the 1980s.
Meanwhile, Staten Island’s self-storage construction is gaining momentum, providing much-needed solutions for residents grappling with tight living spaces and multigenerational households—an outcome of the competitive housing market. Over the past 44 years, more than 2 million square feet of storage space has been added, with the current decade shaping up to be the most active in this sector.
At the same time, a notable increase in office, industrial, and retail construction suggests a shift in Staten Island’s economic focus. Once predominantly seen as a residential borough, Staten Island is emerging as a growing commercial hub. Office construction has been a steady presence over the past four decades. Since 1980, the borough has added over 4 million square feet of office space, with the 2020s seeing annual deliveries averaging almost 121,000 square feet – almost four times more compared to the previous decade.
Retail space is also on the rise. In the first four years of the 2020s, Staten Island has added an average of 295,000 square feet of new retail space annually, a significant jump from the 107,000 square feet per year in the 2010s. Altogether, the borough has increased its retail inventory by over 7.6 million square feet since 1980.
Industrial space has similarly expanded steadily, with nearly 6.5 million square feet added over the past 44 years. Each decade has seen growth in annual deliveries, and the 2020s are on track to be the most active yet, with an annual average of over 261K square feet of new industrial space.
Staten Island’s connectivity with Manhattan and the other boroughs is set to improve significantly with the ongoing development of the Staten Island North Shore Transportation Corridor, including a new light rail line, expected to be completed by 2025. Furthermore, New York City’s recent business zoning overhaul, which eases restrictions on where businesses can operate, is poised to further transform the borough. This shift could create a delicate balance between preserving Staten Island’s suburban character and aligning with the city’s broader economic objectives.
The New York City skyline isn’t just iconic — it’s still growing faster than many other cities in the U.S., with apartment construction driving the transformation. Our latest StorageCafe development report* shows that NYC ranks first in new apartment construction over the past 44 years, leaving other major hubs far behind.
But it’s not just multifamily housing that’s booming. Office construction is at its highest level since the ’80s, and retail remains strong. The self storage sector has also been thriving, adding functional appeal to the city that never sleeps.
Overall, the Big Apple ranks as the seventh most active real estate market in the nation over nearly half a century.
Key highlights from the study:
· Record-breaking apartment growth: Since 1980, New York City has issued permits for over 679,000 new apartments — nearly double the number approved in Los Angeles, the runner-up. The pace is accelerating to meet increasing demand. In the first half of the 2020s, NYC has been issuing nearly 26,000 new permits annually, surpassing the average of all previous decades and nearly five times more than the 1990s.
· The single family home sector, however, has been slow to advance compared to other cities, with just over 43,000 permits issued since 1980. The limited new supply is one of the main factors keeping home prices sky-high in NYC
· Leading the way in office space: It’s no surprise that the city that never sleeps is also America’s top destination for office construction. With 255 million square feet of new office space delivered since 1980, NYC continues to solidify its role as the nation’s top financial and corporate powerhouse.
· Addressing the need for extra space: NYC ranks first nationally in self storage development, with over 29 million square feet of storage space delivered since 1980. The 2020s have seen increased growth, with an impressive 1.2 million square feet delivered each year so far. However, the New York City self storage market remains undersupplied and more expensive than in most other major cities, with a storage unit in NYC renting for $250 per month on average.
· Retail development keeps pace: Not just a hub for apartments and offices, NYC also ranks fourth nationally in retail development, with more than 67 million square feet of retail space added since 1980.
· Industrial gaining momentum: NYC’s industrial sector is on the rise, with new supply growing by 82% in the first half of the 2020s compared to the 2010s. Over the past four years, the city has added an average of 1.9 million square feet of industrial space annually, marking a solid comeback for the sector.
Check out our full report here: https://www.storagecafe.com/blog/top-cities-for-real-estate-development-in-the-us-over-the-last-half-century/.
*Our analysis covers real estate development from 1980 to 2023, focusing on six major sectors: single family, multifamily, industrial, office, retail and self storage. We examined nationwide volumes, calculating activity based on total square footage delivered for commercial real estate and building permits for residential. Using the same metrics, we also zoomed in on the top 100 largest cities in the U.S. to rank the most active real estate markets over this near half-century period.
Banner Image: House keys. Image Credit – Jen Theodore
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