Zillow发布美国住房缺口研究，显示2024年缺口稳定在470万套

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America's housing deficit held steady at 4.7 million units for the first time in years
July 15, 2026
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A construction boom helped hold the deficit nearly flat in 2024, growing by just 43,000 homes
According to new Zillow research, America's housing deficit grew by just 43,000 units in 2024 — down sharply from increases of 257,000 in 2022 and 159,000 in 2023 — as new multifamily construction reached a 50-year high.
The deficit of 4.7 million homes remains the primary driver of the affordability crisis.
In the four metro areas with the largest deficits — New York, Los Angeles, Boston and San Francisco — the share of listings affordable to a median-income household is far below the national figure of 35%
SEATTLE
,
/PRNewswire/ -- America's housing deficit finally stopped growing in a meaningful way. The national housing deficit remained at 4.7 million units in 2024, rising by just 43,000 homes, according to a
new Zillow® analysis
of recently released data from the U.S. Census Bureau. That counts as a step in the right direction after years of the deficit deepening significantly.
The 4.7 million shortfall is the
root of our country's affordability crisis
, and the product of nearly two decades of underbuilding that began after the 2008 financial crisis. For the first time in that period, new supply and new housing demand were roughly in balance in 2024.
"The country is not yet building its way out of the hole, but we stopped digging," said Orphe Divounguy, senior economist at Zillow. "Behind every missing home is a family doubling up, unable to find or afford a place of their own. Stopping the bleeding is progress, but making a real dent requires more than the status quo. We need flexible zoning to allow for more density, streamlined permitting and support for manufactured housing. It's been encouraging to see a bipartisan emphasis from Congress in finding solutions to the housing affordability crisis, because this is an issue that matters to everyone."
A building boom helped housing keep pace with demand
For more than a decade, homebuilding has not kept pace with family formation. That's forced millions to share housing with people outside their family — doubling up when they would likely prefer to have their own place. The deficit grew by
257,000 homes in 2022
and by
159,000 in 2023
.
The 2024 increase of just 43,000 is small enough that after years of steady widening, the gap has effectively plateaued.
Year*
Housing deficit
Annual change
Families doubling up
Homes available to rent or buy
2019
3,788,409
—
7,835,677
4,047,268
2021
4,283,926
+495,517 (two-year change)
7,967,749
3,683,823
2022
4,540,773
+256,847
8,085,857
3,545,084
2023
4,699,836
+159,063
8,147,081
3,447,245
2024
4,743,274
+43,438
8,172,802
3,429,528
*2020 is omitted because of data-collection disruptions in that year's American Community Survey.
The deficit held steady primarily because of a homebuilding boom. The total number of housing units in the country increased by about 1.4 million in 2024, fueled by a 50-year high for newly finished multifamily homes. That was almost enough to absorb the year's increase in the number of families moving into new housing.
Affordability has improved in areas with the biggest construction booms
The leveling off of the deficit lines up with improving affordability. The share of for-sale listings on Zillow that were affordable to a median-income household — meaning they would spend no more than 30% of their income on the monthly mortgage, assuming a 20% down payment — had fallen sharply from a monthly average of about 54% in 2021 to roughly 33% in 2023 as home values and then mortgage rates surged. In 2024, that share held flat, and Zillow data shows it improving through today.
Where the housing deficit is most severe
Even with the national picture stabilizing, the deficit remains heavily concentrated in the country's most expensive markets. The most severe deficits in 2024 were in New York, Los Angeles, Boston, San Francisco and Washington, D.C. While 35% of for-sale listings in May were affordable to a median-income household nationwide, the shares are far lower in four of the five markets with the biggest deficits.
Builders responded faster to pandemic-era demand in areas with
fewer building regulations
. That has helped prices and rents ease in those metros and
rebalanced those markets faster
than in places with more stringent zoning.
Zillow supports making it easier to build
Closing a gap this large requires action on multiple fronts. Zillow advocates for measures that make it easier and less expensive to build, including modernizing zoning to allow more density, streamlining permitting and expanding financing options for manufactured housing. Together with the Casita Coalition, Zillow created the
Build the Middle Playbook
as a resource for advocates working to unlock more housing in their communities. The full case for what needs to change and why is laid out in Zillow's
ongoing affordability research
Metro area*
Year-over-year change
Share of affordable listings (May 2026)**
Share of affordable listings (May 2025)**
United States
43,438
35.2 %
30.8 %
New York, NY
405,956
3,595
13.8 %
11.7 %
Los Angeles, CA
344,533
5,783
5.1 %
2.5 %
Chicago, IL
115,282
8,760
47.4 %
46.7 %
Dallas, TX
47,875
-1,329
31.2 %
25.1 %
Houston, TX
11,903
-8,261
37.4 %
Washington, DC
130,424
-1,814
41.8 %
34.4 %
Philadelphia, PA
80,675
-773
42.9 %
39.3 %
Miami, FL
68,324
-3,642
28.0 %
24.1 %
Atlanta, GA
66,346
23
39.8 %
36.7 %
Boston, MA
147,028
-3,513
14.8 %
11.4 %
Phoenix, AZ
96,038
-2,665
29.0 %
21.7 %
San Francisco, CA
132,116
-7,874
15.9 %
12.9 %
Riverside, CA
86,221
1,134
14.9 %
11.6 %
Detroit, MI
34,594
-1,593
55.9 %
53.5 %
Seattle, WA
97,380
-4,543
16.2 %
13.7 %
Minneapolis, MN
66,824
-6,235
44.4 %
41.2 %
San Diego, CA
97,465
1,634
10.2 %
5.9 %
Tampa, FL
33,878
678
32.3 %
27.1 %
Denver, CO
70,358
-561
28.9 %
22.4 %
Baltimore, MD
42,264
1,620
50.7 %
46.1 %
St. Louis, MO
16,976
-392
59.1 %
54.5 %
Orlando, FL
30,402
6,000
27.6 %
23.1 %
Charlotte, NC
22,545
447
34.6 %
29.5 %
San Antonio, TX
10,668
-2,890
37.9 %
30.9 %
Portland, OR
67,196
-3,289
21.2 %
16.4 %
Sacramento, CA
54,801
-5,630
13.9 %
9.7 %
Pittsburgh, PA
13,186
-2,234
57.0 %
54.8 %
Cincinnati, OH
29,983
-2,042
50.5 %
50.2 %
Austin, TX
60,359
-2,851
27.7 %
18.7 %
Las Vegas, NV
34,073
1,881
25.3 %
20.5 %
Kansas City, MO
26,107
-1,816
43.9 %
42.6 %
Columbus, OH
34,686
-1,533
46.5 %
42.3 %
Indianapolis, IN
15,831
826
Cleveland, OH
13,350
-424
48.6 %
44.3 %
San Jose, CA
55,594
-784
Nashville, TN
34,377
-466
24.3 %
19.3 %
Virginia Beach, VA
20,553
666
31.3 %
32.2 %
Providence, RI
31,180
1,389
7.9 %
7.4 %
Jacksonville, FL
10,328
-2,915
33.3 %
29.3 %
Milwaukee, WI
13,380
-549
38.6 %
36.1 %
Oklahoma City, OK
12,173
568
37.1 %
31.1 %
Raleigh, NC
10,736
-360
42.7 %
35.8 %
Memphis, TN
1,641
98
45.3 %
35.5 %
Richmond, VA
15,770
525
27.5 %
25.2 %
Louisville, KY
12,430
1,323
46.8 %
41.4 %
New Orleans, LA
2,948
-1,286
18.8 %
Salt Lake City, UT
35,676
2,418
23.8 %
17.2 %
Hartford, CT
13,171
40
30.7 %
28.2 %
Buffalo, NY
18,357
1,163
61.4 %
51.6 %
Birmingham, AL
6,779
813
47.8 %
*Ordered by market size
**A listing is considered affordable if a household making that metro area's median income would spend no more than 30% of its income on the monthly mortgage, assuming a 20% down payment.
About Zillow Group:
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and Zillow
Closing.
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www.nmlsconsumeraccess.org
). © 2026 MFTB Holdco, Inc., a Zillow affiliate.
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