Harvard JCHS Releases State of Housing Report for 2018

Harvard University's Joint Center for Housing Studies released its State of the Nation's Housing report for 2018. The report digs into a number of trends impacting the housing industry. Among the important takeaways:

• Home-ownership rates for young adults and black households are near 30 year lows
• Vacancy rates are lowest for Class C apartments, and highest for Class A apartments
• Nearly 50% of renters nationwide are cost burdened
• Multifamily starts were down 9.7% in 2016-17, while completions were up 11.3%
• Median home prices in Seattle, Portland metro areas are approximately 5-7.9 times greater than incomes
• Oregon and Washington are experiencing high levels of domestic in-migration of Millennials
• The national rental housing stock is shifting to higher-cost units
• Apartment properties are appreciating faster than single family homes

Read the full report here.