Housing contributes to states’ output in two basic ways: through private residential investment and consumption spending on housing services. Residential investment includes construction of new single family and multifamily structures, residential remodeling, production of manufactured homes, and brokers’ fees. Consumption spending on housing services includes the amount of rent paid by tenants, the imputed value of housing services to home owners, and the amount paid to hotels by households for housing services.

View a table that summarizes housing’s contribution to states’ output in 2005, the latest year for which estimates are available. The table breaks down this contribution into several components: home building, housing services created by existing housing units, and other housing services.

View a Housing Economics Online article where the methodology to estimate housing’s contribution to GSP was originally developed. The article also contains detailed information on multiple data sources and can be used as a reference document.