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The U.S. Census Bureau collects data and publishes estimates on housing characteristics that provide insight into the nation’s housing. This report focuses on several measures that capture changes in housing availability and affordability, including measures of housing inventory, housing unit structure types, vacancy rates, homeownership rates, home values, monthly housing costs, and housing cost burden.
Before the 2007-2009 Great Recession, homeownership among households headed by adults ages 25 to 34 spiked as risky lending practices greatly expanded access to mortgage credit. Soon after, the nation experienced a housing market crash and economic downturn. Since then, lending options tightened and home prices soared. This limited young householders’ ability to own a home, driving down ownership rates which had yet to return to pre-recession levels by 2019.
For Renters, Housing Cost Burden Is About the Same Christopher Mazur | Component ID: #ti930064816 The housing cost burden has eased for U.S. homeowners but remained stagnant for renters since the peak of the recession in 2008. Recently released data from the American Community Survey (ACS) estimates the percentage of âburdenedâ households, or those that spend at least 35% of their monthly income on housing costs, and provides a 10-year look at the trends from 2008 to 2018.
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