Eye On Housing
With disruption to home construction from the Great Recession and more recently, declining affordability of homeownership, the number of renters in the US has expanded, reaching 109 million in 2017 or 34 percent of the population (up from 89 million and 30 percent in 2007). As renting becomes more common, it is important to examine the types of rental structures… Read More ›
Tag Archive for ‘rental housing’
The Effect of Affordable Housing on the Surrounding Neighborhood
Although produced by NAHB’s Economists, Eye on Housing is intended for a fairly broad readership with an interest in housing, but not necessarily in the academic research published by technical journals. Nevertheless, many EoH readers will want to know about a relatively recent technical paper published in Housing Policy Debate. The paper is called The What, Where, and When of… Read More ›
Small Gains for Single-Family Built-for-Rent Construction
The number of single-family homes built-for-rent increased during 2017. Over the year, construction starts of this type of housing totalled 36,000 homes, compared to 34,000 for 2016. There were 11,000 starts during the final quarter of 2017. According to data from the Census Bureau’s Quarterly Starts and Completions by Purpose and Design and NAHB analysis, the market share of single-family homes built-for-rent, as… Read More ›
How Many People Have Benefitted from the Affordable Housing Credit?
The Low-Income Housing Tax Credit (LIHTC) plays a critical role in the housing market by ensuring a supply of affordable rental housing. Created as part of the 1986 tax reform effort, the LIHTC, also known as the affordable housing credit, has been responsible for financing the development of more than 2.7 million rental homes. The housing credit has been and… Read More ›
What Multifamily Properties Are Most Expensive to Maintain?
Trying to fill the void that was created in 2001 when the Residential Finance Survey (RFS) was discontinued, the US Census Bureau started collecting data on financial, physical and other characteristics of multifamily rental housing properties through its newly designed Rental Housing Finance Survey (RHFS). The first survey took place in 2012. The estimates are still under review by the… Read More ›
Multifamily Rental Properties: Would You Believe 2.25 Million?
According to a new survey sponsored by HUD and conducted by Census Bureau, there are 2.25 million multifamily rental properties in the U.S. You may wonder if we really needed a new survey to tell us this. The short answer is yes. In the decennial Census and virtually all surveys of housing, the government goes to housing units and starts… Read More ›
Single-Family Built-for-Rent Market Share Remains Elevated
Despite some recent ups and downs, the share of single-family homes built for rental purposes remains higher than historical norms. According to data from the Census Bureau’s Quarterly Starts and Completions by Purpose and Design, the market share of single-family homes built for rent, as measured on a one-year moving average, stands at 5.1% for the third quarter of 2012. This… Read More ›
Homeownership Rate Slips during the Third Quarter
The Census Bureau reported the seasonally adjusted homeownership rate fell to 65.3% during the third quarter of 2012. In terms of rates across age groups (which are not seasonally adjusted), only those households headed by persons 65 and over registered an increase in the homeownership rate versus the third quarter of 2011. The under 35 and 55-64 householder cohorts saw… Read More ›