Housing affordability remains a pressing issue in the United States, with rising prices affecting many communities since 2019. A recent YouGov survey found that nearly three-quarters of Americans believe housing affordability has worsened locally, and almost half are moderately or extremely concerned about their own ability to afford housing.
Sam Staley, director of the DeVoe Moore Center at Florida State University’s College of Social Sciences and Public Policy, has worked with the Florida Policy Project to create the Florida Housing Data Project (FHDP). This tool helps residents and policymakers monitor local housing trends, track shortages in both single-family homes and rental units, and determine whether markets are balanced or facing surpluses or deficits over time.
Staley explained that while large markets have struggled with affordability for decades, the pandemic turned it into a national problem. “Housing prices were increasing before the pandemic, but the public health crisis and consequent lockdowns created a historically unique set of circumstances that spiked housing prices from pressures on the demand and supply of the market,” Staley said.
He emphasized that balancing supply with demand is essential for addressing this challenge. “Ultimately, the only solution to combating falling housing affordability is to bring supply and demand back into balance,” he added. “Capping demand is neither feasible nor desirable. The key is to loosen up supply. In short, we need to build a lot more housing.”
Staley identified three main factors contributing to current U.S. housing affordability issues: First, COVID-19 changed home buying patterns as people moved from high-density areas like New York to places such as Florida. Second, disruptions in global supply chains made construction materials harder to obtain and increased costs due to labor shortages at ports and on construction sites. Third, local building regulations have made new construction more difficult by creating complicated permitting processes and restricting use of newer building technologies.
Looking ahead at 2026, Staley noted some improvements as pandemic-related disruptions ease—supply chains are stabilizing and some households have returned to higher-cost states they left during COVID-19. However, certain regions such as California’s coastal areas continue to face very high costs.
According to data from the U.S. Federal Housing Finance Agency cited by Staley, Florida’s housing price index peaked in December 2024 but remains about 70% higher than pre-pandemic levels; nationally prices rose by 56% over that period before plateauing in 2025. While increases have slowed down recently due in part to economic stagnation dampening demand, wages have not kept pace with these higher costs—leaving many households struggling financially.
Staley concluded that despite moderated price growth in some areas, there is little evidence suggesting significant declines ahead: most Americans will likely continue dealing with elevated housing prices for some time.
Media seeking further insight can contact Sam Staley at sstaley@fsu.edu.
