US EditionPublished • loading... • Updated
What cities have the biggest housing shortage?
Riverside metro faces a 10% housing deficit with over 150,000 units missing despite rising construction, contributing to nationwide shortages affecting millions, Up for Growth reports.
- In 2022, the Riverside-San Bernardino-Ontario, CA metro recorded the largest housing shortfall in the country, with more than 150,000 fewer units and a shortage exceeding 10%.
- Rapid job and population growth has outpaced construction in many metros, with permits lagging new jobs, such as one permit per 12 jobs in Miami, per NAR Housing Shortage Tracker.
- Freddie Mac estimated a nationwide shortfall of 3.7 million housing units, with some metro areas missing 100,000 or more units, including California and Idaho.
- Buyers in tight markets should expect longer timelines, stiffer competition and higher prices, while current homeowners may see increased equity and options like home equity loans.
- Up for Growth found overall underproduction improved by 50,000 homes from 2021 to 2022, but shortages could worsen in Midwest and Sun Belt metro areas with fast job growth.
Insights by Ground AI
28 Articles
28 Articles
Coverage Details
Total News Sources28
Leaning Left2Leaning Right1Center22Last UpdatedBias Distribution88% Center
Bias Distribution
- 88% of the sources are Center
88% Center
C 88%
Factuality
To view factuality data please Upgrade to Premium
