It’s been over a decade since the collapse of the U.S. housing market and the ensuing Great Recession. Rent prices have only increased nationally over the same time period—making owning a home increasingly more expensive compared to renting.
Homeownership has not recovered from its pre-recession levels, and growing concerns around COVID-19’s impact on the economy suggest those levels won’t be retaken any time soon.
New housing construction in the U.S. is slowing down, which isn’t good for families already struggling to afford their first home. A shift away from single-family homes has failed to lower prices.
Housing prices have outpaced wages consistently over the last two decades, making homeownership increasingly difficult in many places across the United States. Use our map and graph to see how your area compares.