NMHC Pulse Survey: Analyzing the Impact of Building Codes on Rental Housing Development & Affordability
May 01, 2024 by The 2022 report conducted by NMHC and NAHB found that an average of 40.6% of multifamily development costs can be attributed to meeting regulation requirements at all levels of government. It also mentions the costs associated with building code changes over the past 10 years are the largest cost driver and opposition by community groups (aka NIMBYISM). Following this report, a follow-up survey in 2024 to multifamily builders, developers, and operators across the US found that respondents are most concerned about additional cost driving issues related to code changes in the past two years. The survey concluded that additional obstacles to housing construction include lack of clarity, enforcement inconsistencies, increased costs, patchwork of specific code requirements, and energy code initiatives.