Laurie Lyons’ Post

The Census Bureau reported that 34.4 percent of the country’s 131,206,000 occupied housing units were inhabited by renter households in Q1 2024. This rate is up from that in Q4 as the number of renter households grew slightly while the number of homeowning households declined during the quarter. #hud #workforcehousing #fanniemae #developers #colliersmortgage

Home ownership census data provides opportunity for investors.   You may have seen the news coverage on the recently-released Census data that shows Hamilton city has the lowest home ownership rates in New Zealand at 53.5%.   On the face of it, that data could look disappointing. Our next closest ‘competitors’ are Wellington City, with a home ownership rate of 58.6% and Auckland City with a rate of 59.5%. You can see there’s not much in it, but where I think Hamilton stands out, and what the data doesn’t reflect, is our sheer population growth in recent years.   Crowned New Zealand’s fastest-growing city at the start of the year, the growth of Hamilton’s population has seen unprecedented demand for rental properties, and this is a demand that simply outweighs supply.    Every month, a third of new rentals goes to people new to the city. Hamilton is second only to Auckland in terms of projected population growth in the next 25 years, and we know home ownership rates among migrants lag for a few years while they rent and find their feet.    All of this, alongside our current market upswing, presents immediate opportunities for investors. With high migration, we have more tenants needing rental properties. With favourable market conditions, we have funds that are easier to access, and a good number of investors taking advantage of that.   So, as always, my message to investors is to get in before that window of opportunity closes. There really is no better city right now to invest in than Hamilton.

Housing data from the U.S. Census Bureau 2023 American Community Survey was released today. “Over 21 million renter households spent more than 30% of their income on housing costs in 2023, representing nearly half (49.7%) of the 42.5 million renter households in the United States for whom rent burden is calculated. Households are considered cost-burdened when they spend more than 30% of their income on rent, mortgage payments, and other housing costs.” * 4.6 million (56.2%) Black or African American alone renter households were cost-burdened. * 1 million (43.4%) Asian alone renter households were cost-burdened. * 10.4 million (46.7%) White alone renter households were cost-burdened. * 229,000 (48.8%) American Indian or Alaska Native alone renter households were cost-burdened. * 53,000 (51.7%) Native Hawaiian or Pacific Islander alone renter households were cost-burdened. * 4.8 million (53.2%) Hispanic renter households were cost-burdened.

The latest Census Bureau report reveals that renter households have hit a new high of 45 million in Q2 2024. Despite this growth, the national rental vacancy rate holds steady at 6.6%, meaning fewer available units for renters. For tenants, these numbers highlight the competitive nature of the rental market. Multifamily properties have a higher vacancy rate of 7.8%, while single-family rentals are tighter at 5.4%. Core cities offer a 6.9% vacancy rate, but suburbs, often sought for their balance of space and amenities, are close behind at 6.5%. These trends show that finding the right rental home can be a challenge, varying significantly by region and property type. Staying informed is key for renters navigating today’s market. #RentalMarket #Tenants #CensusBureau #MyLighthouse

During and after the COVID-19 pandemic, population shifts occurred in many US cities as some homebuyers moved to the suburbs to escape city life while others returned to urban areas for in-person work. But what role has population growth had on home prices?  Using the latest data from the US Census Bureau, Zoocasa analyzed how population changes in cities or towns with more than 100,000 people impacted median single-family home prices from July 2022 to May 2024. See our in-depth analysis here:

The Census Bureau just released components of their latest survey for 2023. Here are 6 notable findings about housing and households annually in the US: 1. Another New Record for Renter Unaffordability. 22.0 million renter households spent at least 30 percent of their income on housing. This marked an increase of 226,000 from the previous year and an increase of more than 2.1 million since before the pandemic in 2019.  2. Rent Increases Outpaced Renter Income Growth. Last year, the median gross rent (including utilities) paid by renters was $1,406 per month, up 8 percent from 2022 and up 28 percent nominally since 2019. 3. Homeowner Affordability Challenges Also Rose. Homeowners who spent 30 percent or more of their income on housing also rose in 2023 to 19.8 million households, up 723,000 from a year earlier and up fully 3.2 million since 2019. 4. Multiple Factors Raising Costs of Homeownership. Median monthly costs for the 51.6 million homeowners with a mortgage were $1,904, up 7 percent from the previous year and up 18 percent since 2019.  5. Homeownership Rates Fell Slightly for Younger Households. Homeownership rates among households under age 35 decreased 0.5 percentage points in 2022-2023 to 36.1 percent. 6. Remote Work Is Here to Stay. 13.8 percent of workers, or just over 22 million people, worked from home in 2023.  #realestate #multifamily #SFR #propertymanagement

New U.S. Census Bureau data from the 2023 American Community Survey revealed that New Hampshire’s renters continue to be cost-burdened by housing expenses. In 2023, the estimated median income for households that owned their home was $114,853. Renters’ median household income that same year, however, was estimated to be $53,816. Read more in our latest report: https://lnkd.in/e754uZdC 

🚨The latest Census data is out, offering a five-year snapshot of housing trends. Here are a few key takeaways: 🏠 More Homeowners The number of owner-occupied homes increased by 8.4%, from 76.4 million to 82.9 million. This challenges the narrative that homeownership is on the decline. 💸 Fewer Mortgages Homeowners without mortgages rose from 36.9% to 38.8%. This trend reflects factors like all-cash buyers and generational wealth transfers, which also contributed to a slight drop in the share of income spent on housing (from 18.3% to 17.5%). 🚪 The Homeowner-Renter Divide Homeowners are faring better, with zero counties seeing cost-burdened homers, while over 200 counties report that renters are spending that much. The growing affordability gap is evident. 💵 Housing Prices Outpace Income Housing prices surged 21% while incomes remained mostly stagnant, underscoring the financial pressure many households face. 🏖️ Luxury Areas Soar Counties like Aspen and Jackson Hole saw massive price hikes, highlighting the need for affordable housing in these high-demand areas. 👶 Remote Work & Fertility? In states like New Jersey and New York, fertility rates increased over the past five years, possibly linked to remote work enabling families to move to more affordable areas, creating better conditions for growing families. #CensusData #HousingTrends #Homeownership #AffordableHousing #RealEstate Read more: https://lnkd.in/eznZQaPY

31.3% of American households were cost burdened in 2023, including 27.1% of households with a mortgage and 49.7% of households that rent, according to 1-year estimates from the Census Bureau’s American Community Survey (ACS). (Many more people own than rent: In the second quarter of 2024, 65.6% of occupied housing units were owned while 34.4% were rented, according to the most recent estimates from the Census Bureau’s Current Population Survey/Housing Vacancy Survey.) https://lnkd.in/gytUS4Ma