Updated Snapshot of Local HBA Economics and Housing Statistics

NAHB recently updated the online tool that provides economic and housing market statistics for all local Home Builder Associations (HBAs). It covers twelve key economic and demographic statistics at three different levels, which allows local HBAs to easily compare local housing markets to other associations, state and/or national figures.

Note that this unique data is organized according to HBA jurisdictional boundaries, rather than political or other areas.

The statistics provided are NAHB tabulations based on an aggregation of county-level data from the 2017 American Community Survey (ACS) 5-year estimates and 2017 Building Permits Survey. Both the ACS and Building Permits Survey are conducted by the Census Bureau. All estimates are derived from the latest available data.

Key economic and demographic statistics are discussed below:

Population – Population is a count or estimate of the number of individuals residing in the specified geography. The higher the rank, the higher the population compared to other HBAs.

Number of Owner-Occupied Housing Units – An owner-occupied housing unit is a house, an apartment, a mobile home or trailer, a group of rooms, or a single room that is occupied. A high rank indicates more owner-occupied housing units.

Homeownership Rates – The homeownership rate is calculated by taking the total number of owner-occupied units divided by the total number of occupied units. A high homeownership rate implies a low rental rate. A high rank indicates a high homeownership rate. High home ownership rates are frequent in less urban areas, moderately priced areas and where fewer moves occur.

Homeowner Vacancy Rates – The homeowner vacancy rate is calculated by taking the total number of vacant units intended for owner-occupancy divided by the total number of owner-occupied and vacant units. A low vacancy rate indicates a tight housing market where demand for owner-occupied units is high relative to supply.

Single-Family Concentration – The share of homeowners living in single-family detached housing is calculated by taking the total number of single-family detached units divided by the total number of owner-occupied units. A high rank indicates a high concentration of single-family homes. Lower rates are typical of more urban locations with denser developments.

Value of Home Owned – The figure provides for all owner-occupied housing units the median home value. These figures along with income are critical components of housing affordability. The higher the rank, the higher the median value compared to other HBAs.

Income of Homeowners – The figure provides for all owner-occupied housing units the median income of the householder and all other individuals in the household. The higher the rank, the higher the median income compared to other HBAs.

Share of Homes Recently Built – The share of new owner-occupied units is calculated by taking the total number of owner-occupied housing units built since 2010 divided by the total number of owner-occupied housing units. The number indicates how fast the stock of owner-occupied housing is growing. The higher the rank, the higher the share of homes built since 2010 compared to other HBAs. Higher shares are indicative of faster growing, more recently developed areas while lower shares are signs of areas with slow or little growth.

Single-Family Permits Issued – The figure shows the number of building permits issued on new privately-owner residential construction for single-family housing units. The higher the rank, the more single-family permits issues compared to other HBAs. The number of permits per 1,000 population is another indicator of growth; the higher the ratio, the greater growth and growth potential.

SF Permits Change from 2016 – The figure is calculated using the annual statistics for single-family permits issued in 2016 and 2017. The higher the rank, the higher the percent change in single-family permits issues from 2016 compared to other HBAs.

Multifamily Permits Issued – The figure shows the number of building permits issued on new privately-owner residential construction for multifamily housing units. The higher the rank, the more multifamily permits issues compared to other HBAs.

MF Permits Change from 2016 – The figure is calculated using the annual statistics for multifamily permits issued in 2016 and 2017. The higher the rank, the higher the percent change in multifamily permits issues from 2016 compared to other HBAs.



2 replies

  1. The article says the new tool uses 2017 ACS data, but when I click on the search tool itself, it references 2014 ACS data. Which is it? (Hopefully 2017…) Thanks!

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