U.S. Affordable Housing - statistics & facts

A charming house with a lawn and a white picket fence is one of the most evocative images of the American Dream. The United States was once seen as a country where anyone willing to work hard would be able to afford a secure housing situation. However, nowadays many Americans find this dream to be more and more elusive. In 2021, nearly 22 million American households were burdened by the cost of housing, a figure that has increased since 2019. A 2022 survey found that more than a third of those renting a home did not own a home because they could not afford one.

Rent is a heavy burden on the household budget of many Americans

Rents have risen substantially in recent years. In 2023, renters with an average hourly wage earned just slightly above the amount needed for a one-bedroom apartment. A two-bedroom apartment was out of reach for 60 percent of the population. Additionally, a substantial disparity in affordability could be seen among different races. Black and Latino renters earn lower wages on average, meaning that a lower percentage had sufficient income for a two-bedroom apartment. Housing affordability is often a barrier to the economic development of cities, as it leads to worker shortages. The median wage across many occupations vital to the economy fell short of the necessary income for rental housing. Professionals, including food and beverage serving workers, motor vehicle operators, administrative support workers, and retail sales workers, fell short of the necessary income.

Getting on the property ladders is not an easy task either

House prices have risen even faster than rents, making homeownership unattainable for the average American. In 2022, the average household in the U.S. did not earn enough to qualify for a mortgage. Only about 15 percent of American renters could afford to buy the median-priced home in 2022, but in some regions of the country, homeownership was more unattainable than in others. In El Paso, TX, Syracuse, NY, Rochester, NY, and Wichita, KS, about one-third of renters could afford the median-priced home in their metro. On the other end of the spectrum were metros such as Los Angeles and San Diego, CA, where less than five percent of renters earned enough to become homeowners. Overall, the overwhelming majority of Americans could only afford less than 50 percent of the homes for sale in their market. Surprisingly, Gen Z and millennial homebuyers reported a more positive affordability outlook than Gen X and baby boomers. In the second quarter of 2023, one-third of millennials who wanted to buy a house had been on the lookout for longer than three months because they could not find a home within their price range. Even when homebuyers spot a home that checks all the boxes for them, there is no guarantee that other bidders will not outbid them.

This text provides general information. Statista assumes no liability for the information given being complete or correct. Due to varying update cycles, statistics can display more up-to-date data than referenced in the text.

Top reason U.S. renters do not currently own a home: Not enough saved for a down payment

Rent per square foot to income ratio in Oklahoma City: 32%

Share of millennials who can't afford to buy a home: 74%

Editor’s Picks Current statistics on this topic

Average sales price of new manufactured homes in the United States from 2014 to 2021 (in 1,000 U.S. dollars)

Residential Real Estate

Average sales price of new mobile homes in the U.S. 2014-2021

Number of housing cost burdened households in the United States among renters from 2003 to 2021 (in millions)

Residential Real Estate

Number of housing cost burdened households in the U.S. among renters 2003-2021

Main reason for timing of home purchase in the United States in 2022, by generation

Residential Real Estate

Main reason for timing of home purchase in the U.S. 2022, by generation

Recommended statistics

Overview

Premium Statistic Number of housing cost burdened households in the U.S. among renters 2003-2021
Number of housing cost burdened households in the U.S. among renters 2003-2021
Number of housing cost burdened households in the United States among renters from 2003 to 2021 (in millions)
Premium Statistic Main reasons non-owners don't currently own a home U.S. 2022
Main reasons non-owners don't currently own a home U.S. 2022
Reasons why non-owners currently do not own a home in the United States in 2022
Premium Statistic Rent to income ratio in selected markets in the U.S. 2017
Rent to income ratio in selected markets in the U.S. 2017
Rent per square foot to income ratio in selected markets in the United States in 2017
Premium Statistic Share of wages needed to buy a median priced home in the U.S. 2005-2018
Share of wages needed to buy a median priced home in the U.S. 2005-2018
Share of average wages needed to buy a median priced home in the United States from Q1 2005 to Q3 2018
Premium Statistic Rent cost of 22-30 year olds in the U.S. 2018, by generation
Rent cost of 22-30 year olds in the U.S. 2018, by generation
Share of income spent on rent by 22 to 30 year olds in the United States in 2018, by generation
Premium Statistic Most affordable metro areas U.S. 2018, by income spent on rent
Most affordable metro areas U.S. 2018, by income spent on rent
Most affordable metro areas in the United States in 2018, by share of income spent on rent
Premium Statistic Share of zip codes where all homes were affordable in selected U.S. markets 2019
Share of zip codes where all homes were affordable in selected U.S. markets 2019
Share of zip codes where all homes were affordable in selected markets in the United States in 2019

Affordability by profession

Premium Statistic Share of homes affordable to teachers in the U.S. 2018, by metro
Share of homes affordable to teachers in the U.S. 2018, by metro
Share of homes affordable to teachers in selected cities in the United States in 2018, by metro
Premium Statistic Share of homes affordable to programmers in selected cities in the U.S. 2018
Share of homes affordable to programmers in selected cities in the U.S. 2018
Share of homes affordable to programmers in selected cities in the United States in 2018
Basic Statistic Share of homes affordable to programmers in San Francisco, CA 2018
Share of homes affordable to programmers in San Francisco, CA 2018
Share of homes affordable to workers in San Francisco, California in 2018, by profession
Premium Statistic Concern over affordable housing for working class vs. public servants U.S. 2017
Concern over affordable housing for working class vs. public servants U.S. 2017
Share of adults concerned about affordable housing for working class and public servants in the United States in 2017

Home purchase behavior

Premium Statistic Main reason for timing of home purchase in the U.S. 2022, by generation
Main reason for timing of home purchase in the U.S. 2022, by generation
Main reason for timing of home purchase in the United States in 2022, by generation
Premium Statistic Largest obstacle to buying a home in the U.S. 2018, by generation
Largest obstacle to buying a home in the U.S. 2018, by generation
Largest obstacle to buying a home in the United States in 2018, by generation
Premium Statistic Strain on budget for better neighborhood vs. living comfortably in budget U.S. 2017
Strain on budget for better neighborhood vs. living comfortably in budget U.S. 2017
Likelihood of homeowners paying more for better neighborhood vs. living comfortably within budget in the United States in 2017
Premium Statistic Strain on budget for better neighborhood vs. living within budget U.S. 2017 by income
Strain on budget for better neighborhood vs. living within budget U.S. 2017 by income
Likelihood of homeowners paying more for better neighborhood vs. living comfortably within budget in the United States in 2017, by income level
Basic Statistic Reasons for millennials to choose renting over buying a home U.S. 2018-2022
Reasons for millennials to choose renting over buying a home U.S. 2018-2022
Main reasons why millennials who expect to always rent for giving up of homeownership in the United States from 2018 to 2022
Premium Statistic Savings needed by U.S. Gen Z to afford a down payment by age 30, by market 2019
Savings needed by U.S. Gen Z to afford a down payment by age 30, by market 2019
Amount of money needed by Generation Z per month to afford a ten percent down payment in selected markets in the United States by 2031 (in U.S. dollars)

Manufactured homes

Premium Statistic Average sales price of new mobile homes in the U.S. 2014-2021
Average sales price of new mobile homes in the U.S. 2014-2021
Average sales price of new manufactured homes in the United States from 2014 to 2021 (in 1,000 U.S. dollars)
Premium Statistic Average sales price of new single-width mobile homes in the U.S. 2014-2021
Average sales price of new single-width mobile homes in the U.S. 2014-2021
Average sales price of new single-width manufactured homes in the United States from 2014 to 2021 (in 1,000 U.S. dollars)
Premium Statistic Average sales price of new double-width mobile homes in the U.S. 2014-2021
Average sales price of new double-width mobile homes in the U.S. 2014-2021
Average sales price of new double-width manufactured homes in the United States from 2014 to 2021 (in 1,000 U.S. dollars)
Premium Statistic Share of HHs living in mobile homes in selected metros in the U.S. 2016
Share of HHs living in mobile homes in selected metros in the U.S. 2016
Share of households living in mobile homes in selected metros in the United States in 2016
Premium Statistic Number of HHs living in mobile homes in selected metros in the U.S. 2016
Number of HHs living in mobile homes in selected metros in the U.S. 2016
Number of households living in mobile homes in selected metros in the United States in 2016 (in 1,000s)
Premium Statistic Average price per sf of site-built and mobile homes in the U.S. 2017
Average price per sf of site-built and mobile homes in the U.S. 2017
Average price per square foot of site-built and manufactured homes in the United States in 2017 (in U.S. dollars)

Affordable housing access

Premium Statistic Affordable and available housing units for ELI renter households in the U.S. 2017
Affordable and available housing units for ELI renter households in the U.S. 2017
Availability of affordable housing units for extremely low income (ELI) renter households in the United States in 2017, by state
Premium Statistic Ways U.S. mayors want to see housing change in their cities 2017, by region
Ways U.S. mayors want to see housing change in their cities 2017, by region
Ways U.S. mayors want to see housing change in their cities 2017, by region
Premium Statistic Reasons for public assistance for housing U.S. 2017, by gender and education level
Reasons for public assistance for housing U.S. 2017, by gender and education level
Consumer opinion on reasons why people need public assistance for housing in the United States in 2017, by gender and education level
Premium Statistic Affordable three bed homes for sale in selected U.S. metros 2018, by mortgage rate
Affordable three bed homes for sale in selected U.S. metros 2018, by mortgage rate
Number of affordable three bedroom homes for sale in selected metros in the United States in 2018, by mortgage rate
Premium Statistic View of U.S. mayors of affordable housing in their cities 2018, by location
View of U.S. mayors of affordable housing in their cities 2018, by location
Opinion of mayors about affordable housing being a part of the city's infrastructure vs a distinct sector in the United States as of 2018

Obstacles to improving access

Premium Statistic Main obstacles to improving housing access for low-income families U.S. 2017
Main obstacles to improving housing access for low-income families U.S. 2017
What are two biggest obstacles to improving access to housing for low-income families?
Premium Statistic Main obstacles to improving housing access for residents of color U.S. 2017
Main obstacles to improving housing access for residents of color U.S. 2017
What are two biggest obstacles to improving access to housing for residents of color?
Premium Statistic Main obstacles to improving housing access for middle-income families U.S. 2017
Main obstacles to improving housing access for middle-income families U.S. 2017
What are two biggest obstacles to improving access to housing for middle-income families?
Premium Statistic Main obstacles to improving housing access for elderly/disabled residents U.S. 2017
Main obstacles to improving housing access for elderly/disabled residents U.S. 2017
What are two biggest obstacles to improving access to housing for residents who are elderly/disabled?

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Key figures

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