The U.S. faces a decade-long housing shortfall, driving up rents and home prices while worsening affordability nationwide. Despite growing political attention, confusion over the scale and nature of the crisis persists, with estimates often conflating different parts of the housing market. This new report clarifies the shortage’s scope, examine local impacts, and explore how supply and demand shape affordability, providing a clearer foundation for policymakers to address the challenge.
Moving beyond national estimates to uncover clearer insight
In this research, housing shortfalls for homes to rent and owner occupied are measured at the census tract level, offering a sharper view of where supply is falling short. By zooming in to the census tract level, we uncover the real contours of the nation’s housing crisis—block by block.
Take Philadelphia, for instance: city-level analysis reveals striking imbalances, with pockets of severe rental shortages hidden beneath county-wide averages, and a patchwork of oversupplied and underserved neighborhoods that tell a far more nuanced story.
| Rental Housing (PHL) | Owner-Occupied (PHL) |
|---|---|
Contact PolicyMap for the census tract level data.
Podcast - The Inside Economics Podcast
Housers on the Housing Shortage
Moody’s Analytics Mark Zandi and Cris deRitis are joined by Ira Goldstein from The Reinvestment Fund, Maggie McCullough from PolicyMap, and Jim Parrott from the Urban Institute to discuss their new study that takes a deep dive into understanding the nature of the decade-long housing shortfall. This team of self-avowed housers dissect the shortage down to the census tract and come to some surprising conclusions.
Webinar - On Demand
A Focus on the Housing Shortage
Join us for a deeper, interactive look at the decade-long housing shortfall that’s driving up home prices and rents nationwide. This exclusive webinar will unveil dynamic maps and visuals from our latest study, revealing housing shortages and unexpected surpluses down to the census tract level.
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