Between 1968 and 2023, there had been over six million housing unit completions more than new households formed in the United States. That means that throughout that period the number of homes and apartments completed increased at a faster pace than the number of households, indicating no deficit. However, if only completions of single-family homes were considered, there was a housing deficit. From 1969 to 2023, there were roughly 16 million less single-family homes completed than new households were formed. Those figures do not include the number of housing units demolished, and therefore do not reflect the exact housing shortage, as some of those homes completed might not exist anymore due to demolitions or natural disasters.
Difference between the running sum of privately-owned housing units completed and the running sum of household formation in the United States from 1968 to 2023, by type of housing
The figures were calculated by Statista as the difference between the running sum of privately-owned housing units completed and the running sum of household formation. The household formation was calculated as the difference between the number of households in each year and the number of households in the first year of the series to show the number of households formed since that date.
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Statista. (September 19, 2024). Difference between the running sum of privately-owned housing units completed and the running sum of household formation in the United States from 1968 to 2023, by type of housing [Graph]. In Statista. Retrieved November 23, 2024, from https://www.statista.com/statistics/1493979/cumulative-shortage-of-new-home-supply-in-the-us/
Statista. "Difference between the running sum of privately-owned housing units completed and the running sum of household formation in the United States from 1968 to 2023, by type of housing." Chart. September 19, 2024. Statista. Accessed November 23, 2024. https://www.statista.com/statistics/1493979/cumulative-shortage-of-new-home-supply-in-the-us/
Statista. (2024). Difference between the running sum of privately-owned housing units completed and the running sum of household formation in the United States from 1968 to 2023, by type of housing. Statista. Statista Inc.. Accessed: November 23, 2024. https://www.statista.com/statistics/1493979/cumulative-shortage-of-new-home-supply-in-the-us/
Statista. "Difference between The Running Sum of Privately-owned Housing Units Completed and The Running Sum of Household Formation in The United States from 1968 to 2023, by Type of Housing." Statista, Statista Inc., 19 Sep 2024, https://www.statista.com/statistics/1493979/cumulative-shortage-of-new-home-supply-in-the-us/
Statista, Difference between the running sum of privately-owned housing units completed and the running sum of household formation in the United States from 1968 to 2023, by type of housing Statista, https://www.statista.com/statistics/1493979/cumulative-shortage-of-new-home-supply-in-the-us/ (last visited November 23, 2024)
Difference between the running sum of privately-owned housing units completed and the running sum of household formation in the United States from 1968 to 2023, by type of housing [Graph], Statista, September 19, 2024. [Online]. Available: https://www.statista.com/statistics/1493979/cumulative-shortage-of-new-home-supply-in-the-us/
