Local Economic and Housing Stats at Your Fingertips

Filed in Economics, Homeownership, Multifamily by on February 28, 2015 2 Comments
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460635259NAHB recently updated the online tool that provides economic and housing statistics for all the HBAs across the federation. The tool now aggregates county-level data from the latest American Community Survey (ACS) and reflects HBA jurisdictions as of the January 2015 NAHB Board of Directors meeting.

The changes were rolled out at the International Builders’ Show, where EOs said the tool was helpful when responding to requests from local media and quickly providing members with local market statistics and easily comparing them with other associations, state and national figures.

The statistics provided are NAHB tabulations based on an aggregation of county-level data from the 2013 ACS and 2013 Building Permits Survey, both conducted by the Census Bureau and the latest available data.

Here is an overview of the NAHB-tabulated statistics:

Population. A count or estimate of the number of individuals residing in the specified geography.

Number of Owner-Occupied Housing Units. Defined as a house, apartment, mobile home or trailer, group of rooms, or a single room that is occupied.

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

Homeowner Vacancy Rates. 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. This share 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 Home Owners. The figure provides for all owner-occupied housing units the median income of the home owner 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 that stock 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 owned residential construction for single-family housing units. The number of permits per 1,000 population is another indicator of growth.

Single-Family 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  permits for multifamily housing units.

Multifamily Percent Change from 2012 – The figure is calculated using the annual statistics for multifamily permits issued in 2012 and 2013.

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Comments (2)

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  1. Cathy says:

    Where can I find current data about who is making the decisions on the products purchased in the luxury home market? Are the homeowners making the decisions about what they want, or are the home builders influencing the decisions about what to buy, depending on their product preference?

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