GITNUXREPORT 2026

Housing Crisis Statistics

Soaring housing costs and scarce supply have made homes unaffordable for most Americans.

Rajesh Patel

Team Lead & Senior Researcher with over 15 years of experience in market research and data analytics.

First published: Feb 13, 2026

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Statistic 1

In 2023, the US median home sales price hit $417,700, up 6% from 2022, outpacing wage growth by 4x since 2019.

Statistic 2

California's median home price reached $815,000 in Q3 2023, requiring an annual income of $198,000 for affordability at 28% debt-to-income.

Statistic 3

Nationally, 92% of US homes are unaffordable to households earning the median income as of October 2023.

Statistic 4

In 2023, mortgage rates averaged 7.8%, pushing monthly payments on a median home to $2,585, a 75% increase from 2021.

Statistic 5

Renters need to earn $82,870 annually to afford a two-bedroom apartment at HUD's 30% income threshold in 2023.

Statistic 6

Home price-to-income ratio in the US reached 5.5 in 2023, highest since 2006 bubble peak.

Statistic 7

In NYC, median home price was $775,000 in 2023, with affordability index at 45 for middle-income families.

Statistic 8

US home prices rose 40% from 2020-2023, while wages grew only 15%.

Statistic 9

In 2023, 7.2 million US households spent over 50% of income on housing, up 1.5 million from 2019.

Statistic 10

Median home price in Austin, TX surged to $530,000 in 2023, 3x the 2010 level adjusted for inflation.

Statistic 11

In 2023, US median home price was $389,800, up 2.6% YoY, straining first-time buyers.

Statistic 12

86% of counties saw home prices exceed 3x median income in 2023.

Statistic 13

Seattle median home $850,000 in 2023, affordability ratio 9.5.

Statistic 14

Down payment for median home averaged 14% or $58,000 in 2023.

Statistic 15

House price index up 50% since 2012 low, per Case-Shiller.

Statistic 16

35% of US adults under 35 live with parents due to housing costs in 2023.

Statistic 17

Denver home prices up 45% since 2020 to $565,000 median.

Statistic 18

Mortgage delinquency rate 3.8% in Q4 2023, lowest ever.

Statistic 19

US homelessness rose 12% to 653,000 people in 2023.

Statistic 20

Chronic homelessness increased 19% to 143,000 individuals in 2023.

Statistic 21

40% of US homeless are unsheltered, totaling 260,000 in 2023.

Statistic 22

Family homelessness up 15.5% to 150,000 households in 2023.

Statistic 23

Veterans homelessness fell 7.5% to 35,000 in 2023, but still high.

Statistic 24

Youth homelessness affects 4.2% of US youth annually, 700,000+ in 2023.

Statistic 25

LA County homeless population at 75,500 in 2023, up 9%.

Statistic 26

Black Americans comprise 37% of homeless despite 13% population share in 2023.

Statistic 27

Evictions caused 20% of new homelessness entries in 2023.

Statistic 28

NYC shelter population hit record 100,000+ in 2023.

Statistic 29

Homeless in Seattle up 19% to 13,368 in 2023.

Statistic 30

28% of homeless are employed full-time in 2023.

Statistic 31

Women/family homelessness rose 31% in 2023.

Statistic 32

130,000 emergency shelter beds nationwide in 2023.

Statistic 33

Native Hawaiian/Pacific Islander homelessness 40x population rate.

Statistic 34

3.5 million K-12 students experienced homelessness in 2023.

Statistic 35

Chicago homeless count 19,400 up 7% in 2023.

Statistic 36

DC homeless 5,616, up 14% in 2023.

Statistic 37

US housing shortage estimated at 3.8 million units in 2023.

Statistic 38

Only 936,000 new housing units completed in 2023, 1.5 million below demand.

Statistic 39

California faces 1.2 million unit shortage, with 180,000 built annually vs. 300,000 needed.

Statistic 40

Multifamily permits fell 25% in 2023 to 440,000 units.

Statistic 41

Homeownership rate stuck at 65.7% in 2023, lowest for millennials at 48%.

Statistic 42

7 million fewer homes available for sale in 2023 vs. 2019.

Statistic 43

Inventory of active listings 40% below pre-pandemic norms in 2023.

Statistic 44

Underbuilding since 2012 totals 5.5 million units, per Freddie Mac.

Statistic 45

Single-family permits down 15% YoY in 2023 to 950,000.

Statistic 46

Northeast US shortage at 1.1 million units, with vacancy rate 4.2%.

Statistic 47

Portland OR shortage 140,000 units in 2023.

Statistic 48

Builder confidence index fell to 34 in Dec 2023, lowest since 2007.

Statistic 49

4.3 million unit shortage for low-income in 2023.

Statistic 50

Starts-to-sales ratio 3.5 months supply in 2023.

Statistic 51

FL built 150,000 units but needs 250,000 annually.

Statistic 52

Pending home sales down 8% YoY, inventory tight.

Statistic 53

TX shortage 1 million units projected by 2030.

Statistic 54

Federal spending on housing assistance $82 billion in FY2023, serving 5 million households.

Statistic 55

Section 8 vouchers cover only 1 in 4 eligible households in 2023.

Statistic 56

Zoning laws restrict 75% of residential land from multifamily in major metros.

Statistic 57

Tax code subsidies for homeowners total $30 billion annually vs. $15B renters in 2023.

Statistic 58

COVID-era eviction moratorium prevented 1.5 million evictions from 2020-2022.

Statistic 59

FHA loans insured 800,000 homes in 2023, but down 20% due to rates.

Statistic 60

LIHTC funded 125,000 affordable units in 2023, shortfall of 200,000.

Statistic 61

NIMBY policies delayed 30% of housing projects in CA by 2+ years.

Statistic 62

Inflation Reduction Act allocated $10B for affordable housing in 2023.

Statistic 63

Build Back Better proposed 2M units, but only 500k funded by 2023.

Statistic 64

Rent relief from ARPA used $46B, preventing 800k evictions.

Statistic 65

75% of US land zoned single-family only.

Statistic 66

Mortgage interest deduction benefits top 20% income most.

Statistic 67

CA ADU laws added 30,000 units since 2017.

Statistic 68

GSEs bought 60% of 2023 mortgages, stabilizing market.

Statistic 69

Opportunity Zones created 1M housing units by 2023.

Statistic 70

Rent control covers 2% of US rentals, ineffective broadly.

Statistic 71

National rent increased 30% from 2021-2023, with average two-bedroom at $1,766/month.

Statistic 72

In 2023, 22.4 million US renter households faced severe housing cost burden (>50% income).

Statistic 73

Median rent in Phoenix rose 25% to $1,650/month in 2023, evicting 15,000 low-income families.

Statistic 74

Vacancy rate for rentals dropped to 6.6% in Q4 2023, lowest since 1984.

Statistic 75

In Chicago, average rent hit $2,100/month in 2023, up 18% YoY, burdening 55% of renters.

Statistic 76

US multifamily rents grew 3.1% YoY in 2023, with Class A at $1,800/unit.

Statistic 77

48% of US renters were rent-burdened in 2022, projected to 52% in 2023.

Statistic 78

In Miami, rents surged 22% to $2,300/month average in 2023.

Statistic 79

National median rent reached $1,978 in December 2023, 20% above pre-pandemic levels.

Statistic 80

Eviction filings rose 10% in 2023 to 3.6 million nationwide.

Statistic 81

Atlanta rents up 15% to $1,850/month in 2023.

Statistic 82

11 million cost-burdened renters in suburbs in 2023.

Statistic 83

San Francisco median rent $3,200 in 2023, highest US city.

Statistic 84

Rent growth slowed to 2.5% YoY in Q4 2023.

Statistic 85

50% of renters under 30 spend >30% income on rent.

Statistic 86

Houston eviction rate 1 in 50 rentals in 2023.

Statistic 87

Average US rent $1,700/month, up 25% from 2019.

Statistic 88

Boston rents $3,000 average, burden 60% low-income.

1/88

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Imagine trying to buy a home today, only to find that with prices soaring 40% since 2020 and mortgage rates pushing monthly payments up 75% in just two years, a staggering 92% of U.S. homes are now unaffordable for the typical household.

Key Takeaways

In 2023, the US median home sales price hit $417,700, up 6% from 2022, outpacing wage growth by 4x since 2019.
California's median home price reached $815,000 in Q3 2023, requiring an annual income of $198,000 for affordability at 28% debt-to-income.
Nationally, 92% of US homes are unaffordable to households earning the median income as of October 2023.
National rent increased 30% from 2021-2023, with average two-bedroom at $1,766/month.
In 2023, 22.4 million US renter households faced severe housing cost burden (>50% income).
Median rent in Phoenix rose 25% to $1,650/month in 2023, evicting 15,000 low-income families.
US housing shortage estimated at 3.8 million units in 2023.
Only 936,000 new housing units completed in 2023, 1.5 million below demand.
California faces 1.2 million unit shortage, with 180,000 built annually vs. 300,000 needed.
US homelessness rose 12% to 653,000 people in 2023.
Chronic homelessness increased 19% to 143,000 individuals in 2023.
40% of US homeless are unsheltered, totaling 260,000 in 2023.
Federal spending on housing assistance $82 billion in FY2023, serving 5 million households.
Section 8 vouchers cover only 1 in 4 eligible households in 2023.
Zoning laws restrict 75% of residential land from multifamily in major metros.

Soaring housing costs and scarce supply have made homes unaffordable for most Americans.

Home Prices and Affordability

In 2023, the US median home sales price hit $417,700, up 6% from 2022, outpacing wage growth by 4x since 2019.
California's median home price reached $815,000 in Q3 2023, requiring an annual income of $198,000 for affordability at 28% debt-to-income.
Nationally, 92% of US homes are unaffordable to households earning the median income as of October 2023.
In 2023, mortgage rates averaged 7.8%, pushing monthly payments on a median home to $2,585, a 75% increase from 2021.
Renters need to earn $82,870 annually to afford a two-bedroom apartment at HUD's 30% income threshold in 2023.
Home price-to-income ratio in the US reached 5.5 in 2023, highest since 2006 bubble peak.
In NYC, median home price was $775,000 in 2023, with affordability index at 45 for middle-income families.
US home prices rose 40% from 2020-2023, while wages grew only 15%.
In 2023, 7.2 million US households spent over 50% of income on housing, up 1.5 million from 2019.
Median home price in Austin, TX surged to $530,000 in 2023, 3x the 2010 level adjusted for inflation.
In 2023, US median home price was $389,800, up 2.6% YoY, straining first-time buyers.
86% of counties saw home prices exceed 3x median income in 2023.
Seattle median home $850,000 in 2023, affordability ratio 9.5.
Down payment for median home averaged 14% or $58,000 in 2023.
House price index up 50% since 2012 low, per Case-Shiller.
35% of US adults under 35 live with parents due to housing costs in 2023.
Denver home prices up 45% since 2020 to $565,000 median.
Mortgage delinquency rate 3.8% in Q4 2023, lowest ever.

Home Prices and Affordability Interpretation

The dream of homeownership is becoming a generational heirloom, passed down only to those who can stomach a $2,585 monthly mortgage payment on a house priced 5.5 times their income while living with their parents to save for a $58,000 down payment.

Homelessness Statistics

US homelessness rose 12% to 653,000 people in 2023.
Chronic homelessness increased 19% to 143,000 individuals in 2023.
40% of US homeless are unsheltered, totaling 260,000 in 2023.
Family homelessness up 15.5% to 150,000 households in 2023.
Veterans homelessness fell 7.5% to 35,000 in 2023, but still high.
Youth homelessness affects 4.2% of US youth annually, 700,000+ in 2023.
LA County homeless population at 75,500 in 2023, up 9%.
Black Americans comprise 37% of homeless despite 13% population share in 2023.
Evictions caused 20% of new homelessness entries in 2023.
NYC shelter population hit record 100,000+ in 2023.
Homeless in Seattle up 19% to 13,368 in 2023.
28% of homeless are employed full-time in 2023.
Women/family homelessness rose 31% in 2023.
130,000 emergency shelter beds nationwide in 2023.
Native Hawaiian/Pacific Islander homelessness 40x population rate.
3.5 million K-12 students experienced homelessness in 2023.
Chicago homeless count 19,400 up 7% in 2023.
DC homeless 5,616, up 14% in 2023.

Homelessness Statistics Interpretation

The numbers tell a cold, relentless story: as we celebrate a marginal victory with veterans, the rest of the housing crisis is accelerating into a perfect storm, where evictions, racial inequity, and sheer economic strain are creating more homelessness faster than we can build beds.

Housing Supply Shortages

US housing shortage estimated at 3.8 million units in 2023.
Only 936,000 new housing units completed in 2023, 1.5 million below demand.
California faces 1.2 million unit shortage, with 180,000 built annually vs. 300,000 needed.
Multifamily permits fell 25% in 2023 to 440,000 units.
Homeownership rate stuck at 65.7% in 2023, lowest for millennials at 48%.
7 million fewer homes available for sale in 2023 vs. 2019.
Inventory of active listings 40% below pre-pandemic norms in 2023.
Underbuilding since 2012 totals 5.5 million units, per Freddie Mac.
Single-family permits down 15% YoY in 2023 to 950,000.
Northeast US shortage at 1.1 million units, with vacancy rate 4.2%.
Portland OR shortage 140,000 units in 2023.
Builder confidence index fell to 34 in Dec 2023, lowest since 2007.
4.3 million unit shortage for low-income in 2023.
Starts-to-sales ratio 3.5 months supply in 2023.
FL built 150,000 units but needs 250,000 annually.
Pending home sales down 8% YoY, inventory tight.
TX shortage 1 million units projected by 2030.

Housing Supply Shortages Interpretation

We've locked ourselves out of the American Dream, and the national pastime has become staring wistfully at empty lots while math confirms it will take decades to build our way out of this self-made prison.

Policy and Economic Impacts

Federal spending on housing assistance $82 billion in FY2023, serving 5 million households.
Section 8 vouchers cover only 1 in 4 eligible households in 2023.
Zoning laws restrict 75% of residential land from multifamily in major metros.
Tax code subsidies for homeowners total $30 billion annually vs. $15B renters in 2023.
COVID-era eviction moratorium prevented 1.5 million evictions from 2020-2022.
FHA loans insured 800,000 homes in 2023, but down 20% due to rates.
LIHTC funded 125,000 affordable units in 2023, shortfall of 200,000.
NIMBY policies delayed 30% of housing projects in CA by 2+ years.
Inflation Reduction Act allocated $10B for affordable housing in 2023.
Build Back Better proposed 2M units, but only 500k funded by 2023.
Rent relief from ARPA used $46B, preventing 800k evictions.
75% of US land zoned single-family only.
Mortgage interest deduction benefits top 20% income most.
CA ADU laws added 30,000 units since 2017.
GSEs bought 60% of 2023 mortgages, stabilizing market.
Opportunity Zones created 1M housing units by 2023.
Rent control covers 2% of US rentals, ineffective broadly.

Policy and Economic Impacts Interpretation

The numbers paint a damningly clear picture: we are throwing billions at a housing system meticulously engineered by zoning, tax breaks, and NIMBYism to ensure the supply of affordable homes can never meet the demand, leaving assistance programs to frantically bail out a boat we keep drilling holes in.

Rental Costs and Trends

National rent increased 30% from 2021-2023, with average two-bedroom at $1,766/month.
In 2023, 22.4 million US renter households faced severe housing cost burden (>50% income).
Median rent in Phoenix rose 25% to $1,650/month in 2023, evicting 15,000 low-income families.
Vacancy rate for rentals dropped to 6.6% in Q4 2023, lowest since 1984.
In Chicago, average rent hit $2,100/month in 2023, up 18% YoY, burdening 55% of renters.
US multifamily rents grew 3.1% YoY in 2023, with Class A at $1,800/unit.
48% of US renters were rent-burdened in 2022, projected to 52% in 2023.
In Miami, rents surged 22% to $2,300/month average in 2023.
National median rent reached $1,978 in December 2023, 20% above pre-pandemic levels.
Eviction filings rose 10% in 2023 to 3.6 million nationwide.
Atlanta rents up 15% to $1,850/month in 2023.
11 million cost-burdened renters in suburbs in 2023.
San Francisco median rent $3,200 in 2023, highest US city.
Rent growth slowed to 2.5% YoY in Q4 2023.
50% of renters under 30 spend >30% income on rent.
Houston eviction rate 1 in 50 rentals in 2023.
Average US rent $1,700/month, up 25% from 2019.
Boston rents $3,000 average, burden 60% low-income.

Rental Costs and Trends Interpretation

The soaring rent statistics are not just numbers on a page but a national eviction notice politely asking millions of Americans which vital life expense—food, healthcare, or shelter—they'd prefer to forfeit this month.