With an estimated gap of roughly 3.7 million homes, America’s housing supply shortage continues to keep costs elevated for both renters and would-be buyers, making housing affordability a shared priority across the aisle. Expanding multi-family housing—such as townhomes, condos, and apartments—offers a promising solution to scale supply and temper price growth. In the 2025 edition of Construction Coverage’s U.S. Cities Building the Most Multi-Family Housing report, researchers analyzed the latest Census Bureau data to determine the cities and states with the highest shares of new privately-owned housing units authorized by building permits in multi-family structures (two or more units) in 2024.