Gross Domestic Product: Real Estate and Rental and Leasing (53) in Ohio
Annual, Not Seasonally Adjusted
OHRERENTLEANGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
108,678.80
Year-over-Year Change
70.44%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Annual, Not Seasonally Adjusted' trend measures median gross rent as a percentage of household income, providing insights into housing affordability in the United States.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This metric tracks the ratio of median gross rent to median household income, offering a snapshot of housing costs relative to incomes. It is a key indicator used by economists and policymakers to assess housing affordability and evaluate the challenges faced by renters.
Methodology
The data is collected through the U.S. Census Bureau's American Community Survey.
Historical Context
This trend is closely monitored by housing analysts, urban planners, and policymakers to inform housing policies and programs.
Key Facts
- Median gross rent as a percentage of household income was 30.8% in 2021.
- Housing costs are considered affordable when they are less than 30% of household income.
- The trend has increased over the past decade, indicating declining housing affordability.
FAQs
Q: What does this economic trend measure?
A: This trend measures the median gross rent as a percentage of median household income, providing insights into housing affordability in the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator used by economists and policymakers to assess housing affordability and evaluate the challenges faced by renters.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Census Bureau's American Community Survey.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by housing analysts, urban planners, and policymakers to inform housing policies and programs.
Q: Are there update delays or limitations?
A: The data is published annually, and there may be some delays in the most recent year's figures.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (OHRERENTLEANGSP), retrieved from FRED.