By: Katherina Davis
The U.S. housing market shows a structural imbalance: inventory has grown, but affordable homes remain scarce. Per Harvard’s Joint Center for Housing Studies State of the Nation’s Housing 2026 report, rental units below $1,000/month fell by more than 7 million between 2014 and 2024, while the national housing supply deficit now exceeds 4 million homes. Middle-income households can access only ~23% of listings nationwide, versus 44% in a balanced market.