Key facts
- Homeowners face rising property taxes (31%) and insurance premiums (72%) between 2019-2025.
- Household relocation is at a record low of 11.2% in 2024.
- Half of US renter households are cost-burdened, with 26% severely cost-burdened.
- National unsold housing inventory reached 127,000 in January 2026.
- Local governments are increasingly tasked with producing affordable housing.
- Federal aid is essential for affordable housing and disaster recovery.
Homeowners and renters across the United States are facing significant financial pressures related to housing costs, according to Harvard University's Joint Center for Housing Studies 2026 State of the Nation's Housing report. Homeowners are contending with substantial increases in property taxes and insurance premiums, alongside high mortgage rates that are keeping many from relocating. This has led to a record low in household mobility.
Renters are also struggling, with about half of households spending at least 30% of their income on housing, and 26% spending over half. These burdens are disproportionately felt by lower-income households and minority groups, exacerbating racial homeownership gaps.
Despite a slowdown in new construction and an increase in vacancies in some markets, the high cost of building new homes means affordable housing remains scarce. The national unsold inventory reached its highest level since 2009. While some cities have seen rents decrease due to oversupply, others face tighter markets.
The report highlights a shift in responsibility, with local and state governments increasingly expected to drive the production of low-cost housing, a role complicated by past federal spending cuts. Strategies like eliminating single-family zoning and creating tax credit programs are being explored. However, the need for federal support is emphasized for generating deeply affordable units and assisting with recovery from climate-related disasters.