Snapshot of Local HBA Economic and Housing Statistics Definitions

  • Population - A count or estimate of the number of individuals residing in the specified geography. The higher the rank, the higher the population compared to other HBAs.
  • Number of Owner-Occupied Housing Units - A house, apartment, mobile home or trailer, group of rooms or single room that is occupied. A high rank indicates more owner-occupied housing units.
  • Homeownership Rates - This rate is calculated by taking the total number of owner-occupied units divided by the total number of occupied units. A high homeownership rate implies a low rental rate. A high rank indicates a high homeownership rate. High home ownership rates are frequent in less urban areas, moderately priced areas and where fewer moves occur.
  • Home Owner Vacancy Rates - This rate is calculated by taking the total number of vacant units intended for owner occupancy divided by the total number of owner-occupied and vacant units. A low vacancy rate indicates a tight housing market where demand for owner-occupied units is high relative to supply. 
  • Single-Family Concentration - The share of home owners living in single-family detached housing is calculated by taking the total number of single-family detached units divided by the total number of owner-occupied units. A high rank indicates a high concentration of single-family homes. Lower rates are typical of more urban locations with denser developments.
  • Value of Home Owned - The figure provides for all owner-occupied housing units the median home value and along with income is a critical component of housing affordability. The higher the rank, the higher the median value compared to other HBAs.
  • Income of Home Owners - The figure provides for all owner-occupied housing units the median income of the householder and all other individuals in the household. The higher the rank, the higher the median income compared to other HBAs.
  • Share of Homes Recently Built - The share of new owner-occupied units is calculated by taking the total number of owner-occupied housing units built since 2000 divided by the total number of owner-occupied housing units. The number indicates how fast the stock of owner-occupied housing is growing. The higher the rank, the higher the share of homes built since 2000 compared to other HBAs. Higher shares are indicative of faster growing, more recently developed areas while lower shares are signs of areas with slow or little growth.
  • Single-Family Permits Issued - The figure shows the number of building permits issued on new privately owned residential construction for single-family housing units. The higher the rank, the more single-family permits issued compared to other HBAs. The number of permits per 1,000 population is another indicator of growth; the higher the ratio, the greater growth and growth potential.
  • SF Percent Change from 2012 - The figure is calculated using the annual statistics for single-family permits issued in 2012 and 2013. The higher the rank, the higher the percent change in single-family permits issues from 2012 compared to other HBAs.
  • Multifamily Permits Issued - The figure shows the number of building permits issued on new privately owned residential construction for multifamily housing units. The higher the rank, the more multifamily permits issues compared to other HBAs.
  • MF Percent Change from 2012 - The figure is calculated using the annual statistics for multifamily permits issued in 2012 and 2013. The higher the rank, the higher the percent change in multifamily permits issues from 2012 compared to other HBAs.
  • Rank - The rank of the HBA in each category is out of a universe of 673.