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Apartment & Condominium Construction in Washington

Author.Name IBISWorld United States Last Updated: April 2025 NAICS WA23611b

Apartment & Condominium Construction in Washington industry analysis

The Apartment & Condominium Construction industry in Washington is expected to grow an annualized x.x% to $x.x billion over the five years to 2025, while the national industry will likely grow at x.x% during the same period. Industry establishments increased an annualized x.x% to xxx locations. Industry employment has increased an annualized x.x% to x,xxx workers, while industry wages have increased an annualized x.x% to $x.x million.

Over the five years to 2030, the industry is expected to grow an annualized x.x% to $x.x billion, while the national industry is expected to grow x.x%. Industry establishments are forecast to grow x.x% to xxx locations. Industry employment is expected to increase an annualized x.x% to x,xxx workers, while industry wages are forecast to increase x% to $x.x million.

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About the Apartment & Condominium Construction in Washington Market Research Report

What’s Included in the Apartment & Condominium Construction in Washington Market Research Report

Definition of the Apartment & Condominium Construction in Washington?

This industry is composed of general contractors responsible for constructing new multifamily residential units, including high-rise apartments, townhouses, condominiums and medium-to-high density units (i.e. units not separated by a ground-to-roof wall). All of the complexes may be constructed for sale as condominiums or cooperatives, or used as rental apartments. This industry does not include speculative builders or contractors who build on their own account for sale.

What’s included in the Apartment & Condominium Construction in Washington?

The Apartment & Condominium Construction in Washington includes constructing multifamily residential housing units, constructing apartment complexes (high-rise and low-rise buildings), constructing condominiums (attached and detached units), constructing townhouses and duplexes, constructing multiunit special-needs complexes (e.g. low-income, senior care and campus housing) and construction management of multifamily building projects (homebuilders and general contractors). Related terms covered in the Apartment & Condominium Construction in Washington industry report includes a financial services corporations created by the us congress to enhance the flow of credit to targeted sectors of the economy, a us government-owned corporation that provides guarantees on mortgage-backed securities that meet certain criteria, the number of new homes under construction during a specified period of time, a key economic indicator of the health of the housing market, an enterprise that prepares a real estate site for residential or commercial use and raises capital, gains zoning approvals and hires contractors to design, construct and develop property and a legal entity that uses pooled investor capital to purchase and manage income property or mortgage loans. to qualify as an reit, the entity must distribute at least 90.0% of taxable income.

Industry Performance of the Apartment & Condominium Construction industry in Washington

Benchmark the Apartment & Condominium Construction in Washington industry performance with all WA county and national performance.

Apartment & Condominium Construction in Washington

#5 in Highest Revenue 5.5% of state's GDP
Revenue (2025)
Annual Growth (2020-25)
Annual Growth (2025-30)

Apartment & Condominium Construction in the US


Revenue (2025)
Annual Growth (2020-25)
Annual Growth (2025-30)

For the full list of industry drivers, see report purchase options.

Key Drivers of the Apartment & Condominium Construction industry in Washington

See how key industry drivers, such as population, median houshold income, new business formation, value of residential construction, urban population and rental vacancy rates are impacting Apartment & Condominium Construction in Washington

Washington Economic Indicators

Population
Median Houshold Income
New Business Formation

View more economic information in WA State Economic profile

US Key External Drivers

Value of residential construction
Urban population
Rental vacancy rates

For the full list of industry drivers, see report purchase options.

County Data of the Apartment & Condominium Construction industry in Washington

Access proprietary data on county in the Apartment & Condominium Construction in Washington, such as King County, Pierce County and Snohomish County. Data includes figures on revenue, establishments, employees and wages by counties.

Key Statistics of the Apartment & Condominium Construction industry in Washington

Download 18 years of historical data and 5 years of projected performance.

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Top Questions Answered in this Report

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What is the market size of the Apartment & Condominium Construction industry in Washington in 2025?

The market size of the Apartment & Condominium Construction industry in Washington is $5.0bn in 2025.

How many businesses are there in the Apartment & Condominium Construction industry in Washington in 2025?

There are 776 businesses in the Apartment & Condominium Construction industry in Washington, which has been growing at an average annual rate of 2.8% from 2020 to 2025.

Has the Apartment & Condominium Construction industry in Washington grown or declined over the past 5 years?

The market size of the Apartment & Condominium Construction industry in Washington has been growing at an average annual rate of 4.1% from 2020 to 2025.

How many employees in the Apartment & Condominium Construction industry in Washington in 2025?

There are 3,445 employees in the Apartment & Condominium Construction industry in Washington, which has been growing at an average annual rate of 1.8% from 2020 to 2025.