Eye On Housing
NAHB recently updated the on-line tool that provides economic and housing statistics for all local associations of the federation. The tool now aggregates county-level data from the latest American Community Survey (ACS) and reflects HBA jurisdictions as of the annual NAHB Board of Directors Meeting.
The changes were rolled out at the International Builders’ Show. Participating EOs indicated that the tool was helpful when responding to requests from local media and quickly providing members with statistics from the local market. The tool allows users to easily compare their local area statistics to other associations, state and national figures.
The statistics provided are NAHB tabulations based on an aggregation of county-level data from the 2013 American Community Survey (ACS) and 2013 Building Permits Survey. The ACS and Building Permits Survey are conducted by the Census Bureau. The tabulations are based on the latest available data.
The NAHB tabulated statistics are discussed below.
Population – Population is a count or estimate of the number of individuals residing in the specified geography.
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.
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. 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 rate 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.
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.
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 2000 divided by the total number of owner-occupied housing units. The number indicates how fast the stock of owner-occupied housing is growing. 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 number of permits per 1,000 population is another indicator of growth.
SF Percent Change from 2012 – The figure is calculated using the annual statistics for single-family permits issued in 2012 and 2013.
Multifamily Permits Issued – The figure shows the number of building permits issued on new residential construction for multifamily housing units.
MF Percent Change from 2012 – The figure is calculated using the annual statistics for multifamily permits issued in 2012 and 2013.
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