June 22, 2023
Housing Cost Burdens at Record Levels, Report Says
The Joint Center for Housing Studies (JCHS) of Harvard University released its annual report, State of the Nation’s Housing 2023 on June 21.
The report provides an overview of housing writ large in the United States. Key takeaways include:
- persistence of the racial homeownership gap where 74.4% of white households are homeowners compared with 45.9% of Black households;
- multifamily construction is thriving at the luxury end of the marketplace;
- housing cost burdens have reached record levels;
- unsheltered homelessness has increased;
- exclusionary zoning continues to result in racial segregation.
“As more of the older adult population chooses to age in the community, demand is increasing for smaller housing, accessibility features such as single-floor living, and services delivered to the home,” the report also says. Read the report and access the data files and charts here.
JCHS is expected to publish an updated version of its Housing for Older Adults report later this year.