A new housing report from Harvard University's Joint Center for Housing Studies reveals that many Americans are struggling to afford housing due to rising costs and high mortgage rates.
The report, released on June 17, 2026, shows that housing costs have increased across the United States, with families paying more for homes and everyday needs.
Homeowners are facing higher property taxes and insurance costs, with the average property tax increasing by 31% between 2019 and 2025, and home insurance premiums jumping by 72% during the same period.
First-time buyers are finding it harder to purchase homes, with many struggling to save for down payments and facing increasing long-term costs.
Only 11.2% of households changed homes in 2024, the lowest relocation rate ever recorded, as high mortgage rates keep homeowners stuck in place.
Renters are also facing financial pressure, with about half of all renter households spending at least 30% of their income on housing in 2024.
Lower-income renters are being hit the hardest, with 83% of renters earning less than $30,000 per year considered cost-burdened.
Despite more homes and apartments being built after the pandemic, many people still cannot afford to move due to high rents and a weak economy.
The report concludes that all levels of government and private organizations must work together to address America's growing housing challenges.
