GITNUXREPORT 2026

Affordable Housing Crisis Statistics

Skyrocketing home prices and rents far outpace wages, fueling an affordable housing crisis.

Sarah Mitchell

Senior Researcher specializing in consumer behavior and market trends.

First published: Feb 13, 2026

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Statistic 1

Evictions in the U.S. totaled 1.1 million court filings in 2023 post-moratorium, highest since 2008.

Statistic 2

U.S. homelessness reached 653,104 people on a single night in 2023, a 12% increase from 2022.

Statistic 3

Chronic homelessness affected 143,361 individuals in 2023, up 12.7% from the prior year.

Statistic 4

Unsheltered homelessness rose to 267,401 in 2023, comprising 41% of total homeless population.

Statistic 5

California accounted for 28% of U.S. homeless population in 2023, with 181,399 individuals.

Statistic 6

New York had 91,271 homeless on a single night in 2023, mostly sheltered due to right-to-shelter law.

Statistic 7

Family homelessness increased 15.5% nationally in 2023, affecting 150,000 children.

Statistic 8

Veterans experiencing homelessness numbered 35,000 in 2023, down 7.5% from 2022 due to targeted programs.

Statistic 9

Youth homelessness affected 34,400 unaccompanied minors in 2023, up 15% from 2022.

Statistic 10

In Los Angeles, homelessness hit 75,518 in 2023, a 9% increase despite $1B+ spending.

Statistic 11

Seattle-King County reported 13,368 homeless in 2023, up 20% from 2022.

Statistic 12

In 2023, the median home sales price in the United States reached $412,300, a 5.3% increase from 2022, exacerbating affordability issues for first-time buyers.

Statistic 13

U.S. home prices rose by 43% between 2020 and 2023, outpacing wage growth by more than double, making homeownership unattainable for many middle-income families.

Statistic 14

In 2024, the national median listing price for homes was $425,000, up 2.7% year-over-year, driven by low inventory in high-demand areas.

Statistic 15

From Q1 2020 to Q1 2024, home prices in the 50 largest U.S. metro areas increased by an average of 47%, with Phoenix seeing a 58% surge.

Statistic 16

The Case-Shiller National Home Price Index rose 6.5% in the 12 months ending February 2024, marking the strongest annual gain since October 2022.

Statistic 17

In California, median home prices hit $815,000 in March 2024, 145% higher than the national median, pricing out 95% of renters.

Statistic 18

New York City's median home sale price reached $780,000 in Q1 2024, a 7.4% increase from the previous year, fueled by luxury market recovery.

Statistic 19

Miami's home prices grew 8.2% year-over-year to a median of $550,000 in March 2024, with inventory at just 3.5 months' supply.

Statistic 20

In 2023, U.S. housing starts fell to 1.41 million units, down 6% from 2022, contributing to price escalation due to undersupply.

Statistic 21

The median U.S. home price per square foot increased to $223 in 2023 from $198 in 2020, a 12.6% rise adjusted for inflation.

Statistic 22

Austin, TX, saw home prices peak at $530,000 median in 2022 before a slight 2% decline in 2023, still 50% above pre-pandemic levels.

Statistic 23

Denver's median home price climbed to $595,000 in Q1 2024, up 4.4% from last year, with bidding wars common in entry-level segments.

Statistic 24

Seattle home prices averaged $850,000 in 2023, a 7% increase, driven by tech sector demand and zoning restrictions limiting supply.

Statistic 25

Boston's median single-family home price hit $900,000 in 2023, up 8.2%, making it one of the least affordable markets nationally.

Statistic 26

Atlanta home prices rose 5.1% to $400,000 median in 2023, but affordability worsened as incomes lagged behind.

Statistic 27

Portland, OR, median home price reached $525,000 in 2023, up 6%, with urban growth boundaries constraining new construction.

Statistic 28

Las Vegas saw a 4.8% price increase to $425,000 median in Q1 2024, recovering from 2022 peak declines.

Statistic 29

National average mortgage payments for new buyers rose 80% from 2020 to 2023 due to price hikes and rates.

Statistic 30

In 2023, 78% of U.S. counties experienced home price growth exceeding wage growth, widening the affordability gap.

Statistic 31

Florida's statewide median home price surged to $405,000 in 2023, up 10% from 2022, attracting out-of-state buyers.

Statistic 32

Texas median home price hit $330,000 in 2023, a 3.2% increase, with Dallas-Fort Worth leading at 5% growth.

Statistic 33

Chicago's median home price rose 9.2% to $340,000 in 2023, bucking national slowdown trends.

Statistic 34

Philadelphia home prices increased 5.5% to $265,000 median in 2023, with rowhome demand high.

Statistic 35

Washington D.C. median price reached $620,000 in 2023, up 6.8%, influenced by federal workforce stability.

Statistic 36

In 2023, 47% of U.S. renters were cost-burdened, spending over 30% of income on rent and utilities.

Statistic 37

Nationally, the share of renters with severe housing cost burden (over 50% of income) rose to 23.1% in 2022.

Statistic 38

In 2022, 21.2 million U.S. renter households faced housing cost burdens, with low-income renters hit hardest.

Statistic 39

Black renters are twice as likely as white renters to be severely cost-burdened, at 31% vs. 15% in 2022.

Statistic 40

In California, 52% of renters spent more than 35% of income on housing in 2023, the highest in the nation.

Statistic 41

No U.S. county allows a full-time minimum wage worker to afford a modest two-bedroom rental in 2023.

Statistic 42

The national Housing Wage for a two-bedroom apartment was $28.35 per hour in 2023, over 2.5 times the minimum wage.

Statistic 43

In 2022, 12.1 million low-income renters lived in neighborhoods with high rent burdens and poverty rates above 40%.

Statistic 44

Hispanic renters faced severe cost burdens at 27% rate in 2022, compared to 16% for non-Hispanic whites.

Statistic 45

Elderly renters (65+) with cost burdens increased to 28% in 2022, up from 24% pre-pandemic.

Statistic 46

In New York, 56% of renters were cost-burdened in 2022, highest among large metros.

Statistic 47

Florida saw 49% rent-burdened households in 2022, driven by rapid population growth and rent hikes.

Statistic 48

Texas had 44% of renters cost-burdened in 2022, with Austin at 51% due to tech boom.

Statistic 49

The national rent for a one-bedroom apartment averaged $1,487 in Q1 2024, up 3.2% from 2023.

Statistic 50

U.S. median rent reached $1,964 for all property types in February 2024, a record high with 3.4% annual growth.

Statistic 51

In 2023, average U.S. rent increased by 3% to $1,699 monthly, outpacing inflation by 1.5 percentage points.

Statistic 52

New York City average rent hit $4,473 for a one-bedroom in March 2024, up 1.5% year-over-year despite high supply.

Statistic 53

San Francisco median rent for a one-bedroom was $2,950 in Q1 2024, down 2% but still 120% above national average.

Statistic 54

Miami's average rent rose to $2,800 for a two-bedroom in 2023, a 12% increase driven by influx of remote workers.

Statistic 55

The U.S. faces a shortage of 7.2 million affordable rental homes for extremely low-income households as of 2023.

Statistic 56

Only 34 affordable rental homes exist per 100 extremely low-income renter households nationally in 2023.

Statistic 57

Housing completions for renter households fell 20% from 2019 to 2023, worsening shortages.

Statistic 58

The U.S. needs 4.3 million new rental homes by 2030 to restore pre-2000 affordability levels.

Statistic 59

In 2023, multifamily housing under construction hit record 971,000 units, but mostly luxury.

Statistic 60

Extremely low-income households face a shortage of 6.4 million affordable units in 2023.

Statistic 61

Coastal metros like NYC and SF have supply shortages 3x the national average per capita.

Statistic 62

Post-2008, U.S. added only 200,000 affordable units while need grew by 2.5 million.

Statistic 63

Zoning laws restrict multifamily housing on 75% of residential land in major U.S. cities.

Statistic 64

The U.S. underbuilt 5.5 million homes from 2012-2021 due to financing and regulatory barriers.

Statistic 65

In 2023, investor purchases accounted for 25% of single-family home sales, reducing supply for owner-occupants.

Statistic 66

Permitted housing starts dropped 10% in 2023 to 1.4 million units, lowest since 2020.

Statistic 67

Rural areas face 2.1 million unit shortage for low-income households as of 2022 data.

Statistic 68

48 states plus D.C. lack enough affordable homes for lowest-income renters in 2023.

Statistic 69

U.S. added 510,000 housing units in 2023, but population growth demanded 1.2 million.

Statistic 70

Single-family permits fell 12% in 2023, prioritizing expensive builds over affordable.

1/70

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Imagine a country where home prices have skyrocketed by 43% in just three years while wages lag hopelessly behind, pushing the dream of a stable home further out of reach for millions of American families.

Key Takeaways

In 2023, the median home sales price in the United States reached $412,300, a 5.3% increase from 2022, exacerbating affordability issues for first-time buyers.
U.S. home prices rose by 43% between 2020 and 2023, outpacing wage growth by more than double, making homeownership unattainable for many middle-income families.
In 2024, the national median listing price for homes was $425,000, up 2.7% year-over-year, driven by low inventory in high-demand areas.
The national rent for a one-bedroom apartment averaged $1,487 in Q1 2024, up 3.2% from 2023.
U.S. median rent reached $1,964 for all property types in February 2024, a record high with 3.4% annual growth.
In 2023, average U.S. rent increased by 3% to $1,699 monthly, outpacing inflation by 1.5 percentage points.
In 2023, 47% of U.S. renters were cost-burdened, spending over 30% of income on rent and utilities.
Nationally, the share of renters with severe housing cost burden (over 50% of income) rose to 23.1% in 2022.
In 2022, 21.2 million U.S. renter households faced housing cost burdens, with low-income renters hit hardest.
U.S. homelessness reached 653,104 people on a single night in 2023, a 12% increase from 2022.
Chronic homelessness affected 143,361 individuals in 2023, up 12.7% from the prior year.
Unsheltered homelessness rose to 267,401 in 2023, comprising 41% of total homeless population.
Evictions in the U.S. totaled 1.1 million court filings in 2023 post-moratorium, highest since 2008.
The U.S. faces a shortage of 7.2 million affordable rental homes for extremely low-income households as of 2023.
Only 34 affordable rental homes exist per 100 extremely low-income renter households nationally in 2023.

Skyrocketing home prices and rents far outpace wages, fueling an affordable housing crisis.

Evictions

Evictions in the U.S. totaled 1.1 million court filings in 2023 post-moratorium, highest since 2008.

Evictions Interpretation

Behind the celebration of reopening, the eviction machine roared back to life, churning out over a million filings to remind us that the rent is not just due, it's often devastating.

Homelessness

U.S. homelessness reached 653,104 people on a single night in 2023, a 12% increase from 2022.
Chronic homelessness affected 143,361 individuals in 2023, up 12.7% from the prior year.
Unsheltered homelessness rose to 267,401 in 2023, comprising 41% of total homeless population.
California accounted for 28% of U.S. homeless population in 2023, with 181,399 individuals.
New York had 91,271 homeless on a single night in 2023, mostly sheltered due to right-to-shelter law.
Family homelessness increased 15.5% nationally in 2023, affecting 150,000 children.
Veterans experiencing homelessness numbered 35,000 in 2023, down 7.5% from 2022 due to targeted programs.
Youth homelessness affected 34,400 unaccompanied minors in 2023, up 15% from 2022.
In Los Angeles, homelessness hit 75,518 in 2023, a 9% increase despite $1B+ spending.
Seattle-King County reported 13,368 homeless in 2023, up 20% from 2022.

Homelessness Interpretation

The numbers are a grim punchline in a tragic comedy where we applaud a standing ovation for finally housing a few thousand veterans while, in the same breath, we watch the entire stage collapse under the weight of exploding family, youth, and chronic homelessness.

Housing Prices

In 2023, the median home sales price in the United States reached $412,300, a 5.3% increase from 2022, exacerbating affordability issues for first-time buyers.
U.S. home prices rose by 43% between 2020 and 2023, outpacing wage growth by more than double, making homeownership unattainable for many middle-income families.
In 2024, the national median listing price for homes was $425,000, up 2.7% year-over-year, driven by low inventory in high-demand areas.
From Q1 2020 to Q1 2024, home prices in the 50 largest U.S. metro areas increased by an average of 47%, with Phoenix seeing a 58% surge.
The Case-Shiller National Home Price Index rose 6.5% in the 12 months ending February 2024, marking the strongest annual gain since October 2022.
In California, median home prices hit $815,000 in March 2024, 145% higher than the national median, pricing out 95% of renters.
New York City's median home sale price reached $780,000 in Q1 2024, a 7.4% increase from the previous year, fueled by luxury market recovery.
Miami's home prices grew 8.2% year-over-year to a median of $550,000 in March 2024, with inventory at just 3.5 months' supply.
In 2023, U.S. housing starts fell to 1.41 million units, down 6% from 2022, contributing to price escalation due to undersupply.
The median U.S. home price per square foot increased to $223 in 2023 from $198 in 2020, a 12.6% rise adjusted for inflation.
Austin, TX, saw home prices peak at $530,000 median in 2022 before a slight 2% decline in 2023, still 50% above pre-pandemic levels.
Denver's median home price climbed to $595,000 in Q1 2024, up 4.4% from last year, with bidding wars common in entry-level segments.
Seattle home prices averaged $850,000 in 2023, a 7% increase, driven by tech sector demand and zoning restrictions limiting supply.
Boston's median single-family home price hit $900,000 in 2023, up 8.2%, making it one of the least affordable markets nationally.
Atlanta home prices rose 5.1% to $400,000 median in 2023, but affordability worsened as incomes lagged behind.
Portland, OR, median home price reached $525,000 in 2023, up 6%, with urban growth boundaries constraining new construction.
Las Vegas saw a 4.8% price increase to $425,000 median in Q1 2024, recovering from 2022 peak declines.
National average mortgage payments for new buyers rose 80% from 2020 to 2023 due to price hikes and rates.
In 2023, 78% of U.S. counties experienced home price growth exceeding wage growth, widening the affordability gap.
Florida's statewide median home price surged to $405,000 in 2023, up 10% from 2022, attracting out-of-state buyers.
Texas median home price hit $330,000 in 2023, a 3.2% increase, with Dallas-Fort Worth leading at 5% growth.
Chicago's median home price rose 9.2% to $340,000 in 2023, bucking national slowdown trends.
Philadelphia home prices increased 5.5% to $265,000 median in 2023, with rowhome demand high.
Washington D.C. median price reached $620,000 in 2023, up 6.8%, influenced by federal workforce stability.

Housing Prices Interpretation

The numbers show America's housing ladder is rapidly turning into a game of snakes and ladders where the snakes are getting longer and the ladders are being auctioned off to the highest bidder.

Rent Burden

In 2023, 47% of U.S. renters were cost-burdened, spending over 30% of income on rent and utilities.
Nationally, the share of renters with severe housing cost burden (over 50% of income) rose to 23.1% in 2022.
In 2022, 21.2 million U.S. renter households faced housing cost burdens, with low-income renters hit hardest.
Black renters are twice as likely as white renters to be severely cost-burdened, at 31% vs. 15% in 2022.
In California, 52% of renters spent more than 35% of income on housing in 2023, the highest in the nation.
No U.S. county allows a full-time minimum wage worker to afford a modest two-bedroom rental in 2023.
The national Housing Wage for a two-bedroom apartment was $28.35 per hour in 2023, over 2.5 times the minimum wage.
In 2022, 12.1 million low-income renters lived in neighborhoods with high rent burdens and poverty rates above 40%.
Hispanic renters faced severe cost burdens at 27% rate in 2022, compared to 16% for non-Hispanic whites.
Elderly renters (65+) with cost burdens increased to 28% in 2022, up from 24% pre-pandemic.
In New York, 56% of renters were cost-burdened in 2022, highest among large metros.
Florida saw 49% rent-burdened households in 2022, driven by rapid population growth and rent hikes.
Texas had 44% of renters cost-burdened in 2022, with Austin at 51% due to tech boom.

Rent Burden Interpretation

The American Dream is increasingly a rental, and the landlord is taking half your paycheck while the other half watches from a neighborhood the minimum wage forgot.

Rent Prices

The national rent for a one-bedroom apartment averaged $1,487 in Q1 2024, up 3.2% from 2023.
U.S. median rent reached $1,964 for all property types in February 2024, a record high with 3.4% annual growth.
In 2023, average U.S. rent increased by 3% to $1,699 monthly, outpacing inflation by 1.5 percentage points.
New York City average rent hit $4,473 for a one-bedroom in March 2024, up 1.5% year-over-year despite high supply.
San Francisco median rent for a one-bedroom was $2,950 in Q1 2024, down 2% but still 120% above national average.
Miami's average rent rose to $2,800 for a two-bedroom in 2023, a 12% increase driven by influx of remote workers.

Rent Prices Interpretation

The numbers are clear: America's rent is in a relentless, record-breaking sprint while our wallets are stuck in a nostalgic jog from a bygone era.

Supply Shortages

The U.S. faces a shortage of 7.2 million affordable rental homes for extremely low-income households as of 2023.
Only 34 affordable rental homes exist per 100 extremely low-income renter households nationally in 2023.
Housing completions for renter households fell 20% from 2019 to 2023, worsening shortages.
The U.S. needs 4.3 million new rental homes by 2030 to restore pre-2000 affordability levels.
In 2023, multifamily housing under construction hit record 971,000 units, but mostly luxury.
Extremely low-income households face a shortage of 6.4 million affordable units in 2023.
Coastal metros like NYC and SF have supply shortages 3x the national average per capita.
Post-2008, U.S. added only 200,000 affordable units while need grew by 2.5 million.
Zoning laws restrict multifamily housing on 75% of residential land in major U.S. cities.
The U.S. underbuilt 5.5 million homes from 2012-2021 due to financing and regulatory barriers.
In 2023, investor purchases accounted for 25% of single-family home sales, reducing supply for owner-occupants.
Permitted housing starts dropped 10% in 2023 to 1.4 million units, lowest since 2020.
Rural areas face 2.1 million unit shortage for low-income households as of 2022 data.
48 states plus D.C. lack enough affordable homes for lowest-income renters in 2023.
U.S. added 510,000 housing units in 2023, but population growth demanded 1.2 million.
Single-family permits fell 12% in 2023, prioritizing expensive builds over affordable.

Supply Shortages Interpretation

We have built a nation where the math is simple but cruel: for every three desperately poor families searching for a door, we have offered only one key, and then we wonder why they are left out in the cold.

Sources & References

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