Despite the pandemic, a total of 1,415,600 building permits were issued in the US in 2020: the highest number of building permits since 2007. As we enter a post-COVID world, it is worth investigating which cities are poised for explosive growth in housing markets – and where construction workers are in demand and receive a respectable wage. We looked at four factors to rank each of the 49 most populous subways in the US: 1. Opportunity: How many building permits were recently approved? 2. Demand: How many construction workers are employed in this area in relation to permits? 3. Pay: How much does a construction worker earn in this area? 4. Cost of Living: How expensive is it to live in this area? Key Findings • Six out of 10 top construction cities are in the South due to a boom in building permits and relatively low cost of living • Three of the top five construction cities are in Texas: Dallas, Houston, and Austin are growing rapidly • Demand after construction workers in these cities is incredibly high, and there is a remarkable shortage of labor in the top cities. Why Each City Made the List of the Best Cities For Construction Workers We’ve included the opportunities, demand, pay, and cost of living for each city in our ranking. Let’s take a closer look at why the top 10 cities have booming hardware stores with interesting opportunities for construction workers. 1. Dallas, TX 2. Houston, TX 3. Minneapolis, MN 4. Austin, TX 5. Phoenix, AZ 6. Seattle, WA 7. Philadelphia, PA 8. Tampa, FL 9. Jacksonville, FL 10. Nashville, TN Dallas Dallas made our list for a number of reasons: • The most new build permits of any major subway in February • A worker to permits ratio of 4: 1 • Below average cost of living A strong recovery from the first few months of the pandemic has lead to one strong labor demand, and construction is booming in Dallas. This trend has led to delivery bottlenecks – 25% of construction companies said they experienced building material shortages and project delays in June. A competitive market like this creates a demand not only for building materials and goods, but also for labor. Houston Houston was not far behind Dallas in our ranking: It had the second highest building permits issued in February – just ahead of the much larger New York City. This growth speaks to the unprecedented population boom that Texas has seen over the past decade: According to early census estimates, Texas will be number one of all states in population growth over the past decade. Houston construction workers also enjoy relatively higher wages than the other two Texas cities on our list, despite the modest cost of living. Minneapolis Minneapolis is not seeing the same growth as the Texas cities on our list, but it still has above-average building permits. What really stands out about Minneapolis is the construction workers’ above-average salaries: an average of $ 57,100. Only New York City workers are paid more, and the cost of living is significantly more affordable in North Star State. Minneapolis also only has a 4: 1 ratio of workers to permits. Combined with the growth in residential construction, the demand for construction workers is growing rapidly in a world post COVID. Austin Austin is the third and final Texas city on our list. Austin is an exciting metropolitan area for construction workers for two reasons: • It issued the third highest building permit in February 2021 • There is an incredible shortage of construction workers Labor shortage is nothing new in Austin’s booming city – the Austin Business Journal described Austin as “an urgent need to Build houses. ” The blatant shortage of construction workers offers building contractors and construction companies the opportunity to benefit from the high demand and low labor supply. Phoenix The Phoenix hardware store has significantly exceeded the national US average since 2016, and 2020 was no exception. It expanded 15% and was driven by a strong housing market, according to a Cumming research report. Phoenix had the fifth most building permits in February and still has a significant shortage of construction workers compared to the construction boom of recent years. Seattle Seattle, like Minneapolis, offers affordable construction workers salaries averaging $ 52,710 according to the census. It has also seen steady construction growth above the US average since 2015. Despite the industry laying off nearly 50,000 people in April 2020, employment has rebounded above pre-pandemic levels, showing the resilience of Seattle’s healthy commercial and residential markets. Much like the other cities on this list, Seattle needs construction workers and will likely continue to hire workers – Seattle has a 7: 1 worker-to-permit ratio. Philadelphia Philadelphia is a story similar to Seattle: a mature hardware store that has proven resilient despite the COVID-19 pandemic. Philadelphia granted building permits in February 2,492 and has a 6: 1 ratio of workers to permits. Also noteworthy: the average salary for a construction worker in Philadelphia is $ 50,320, which is well above the national average of $ 42,000. Tampa construction workers have a lot to offer at the Tampa hardware store. While not the largest market, there is strong demand for construction workers, and Tampa is one of the cheapest cities on our list. Florida has seen massive population growth over the past decade, second only to Texas according to early census estimates. Local construction managers have found workers retiring faster than they can replace, creating an urgent demand to meet the growing housing market. Jacksonville Jacksonville is another Florida city that is great for construction workers and has a higher salary than Tampa, albeit with less construction overall. Demand is high as there is insufficient labor to support Jacksonville’s growing economy. This trend can be seen across northeast Florida: Building permits for single-family homes in Duval, Clay, Nassau, and St. Johns are up 21.4% from 2019. Much like Tampa and the Texas cities, Jacksonville’s construction industry is being driven by an influx of demand for homes and apartments. Nashville Nashville ranks 10th on our list. Although only 1,580 building permits were issued in February, Nashville is booming – the total construction market grew 10.2%, driven by housing, healthcare, and infrastructure. There is a strong demand for labor in this market, especially for construction workers. Construction spending in Nashville has far exceeded that of the US since 2013 and is expected to continue to grow in the future. In fact, the National Association of Realtors believes Nashville will become one of the top 10 commercial construction markets in 2021, despite lower demand nationwide.
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