(Disclosure: Rose Law Group represents Lennar, Taylor Morrison and Toll Brothers.)
By Irena Martincevic | FIXr
Residential construction has faced many challenges over the last few years. And while the overall construction industry has been predicted to grow by 6.1% in 2023, inflation, supply chain issues, and labor shortages are set to slow down the growth of the residential construction market as consumers’ purchasing power weakens. However, experts believe these conditions are set to only hold back the industry on a short to medium-term basis, as its market value is projected to register a CAGR (Compound Annual Growth Rate) of over 3% by 2028.
With the residential construction market currently valued at approximately $590 billion, we take a look at some of the largest U.S. construction companies in each state, driving the industry forward today.
In the map above, you can see the name and logos of the largest construction companies in each state. We analyzed data by Dun & Bradstreet to reveal the highest-revenue U.S. residential construction company for the fiscal year of 2022 in each state.
Some of these companies are the largest in the residential sector as well as commercial. For instance, the biggest residential construction companies in all of the U.S. are Lennar Corporation (Florida) and D.R. Hortor, Inc (Texas). They are also the largest construction companies in the U.S. in general, with $33.7B and $33.5B in revenue, respectively.
The third and fourth largest residential companies are Pultegroup, Inc (Georgia) and Hochtief USA, Inc (New York). They are also the fourth and fifth largest construction companies overall in the country.
Rounding out the top five residential construction companies in the country is NRV, Inc (Virginia). Taking the spot of the third largest construction company overall is Quanta Services, Inc. Also based in Texas, it does not feature in our list as it is non-residential.
Below, we introduce the other companies which are the most prominent home builders in their state.
Breakdown: Revenue and Information of the Largest Construction Companies
Alabama: Olympia Construction, Inc.
Incorporated in June 1989, and headquartered in Birmingham, Olympia Construction(OCI) is a prominent builder of family and elderly housing in the southeastern region of the United States. The company operates in eight states in this area.
Revenue: $48.1M
Alaska: Tikigaq Corporation
Tikigaq was founded in 1971 as a result of the Alaska Native Claims Settlement Act (ANCSA). The company provides a range of services, including design-build construction, general contracting, renovation and repairs, sustainment, restoration and modernization, program and project management, range sustainment, demolition, and soil remediation.
Revenue: $51.7M
Arizona: Taylor Morrison Home II Corporation
Taylor Morrison, established in 2007, is the 7th biggest residential home builder and developer in the U.S., operating in 19 markets across 11 states with a variety of brands that cater to different types of customers, including first-time homebuyers, luxury homebuyers, and renters seeking a resort-style living experience. The company has been recognized as America’s Most Trusted® Builder from 2016-2023 by Lifestory Research.
Revenue: $8.2B
