Up for Growth 2022 Housing Underproduction Report Finds Colorado’s Housing Deficit Has Increased 101% Since 2012

First-of-its kind report quantifies housing shortage by metropolitan and county levels, finds underproduction in state reached 127,000 homes in 2019, up from 63,200 in 2012.

Washington, DC – Up for Growth, a cross-sector member network committed to solving the nation’s housing shortage and affordability crisis through data-driven research and evidence-based policy, today released a groundbreaking report that finds housing underproduction in Colorado has reached 127,005 homes, an increase of 101 percent since 2012, ranking the state seventh in the United States in terms of the severity of its housing deficit.

“Land use and housing policy is one of the most important and most neglected levers for climate action,” said Will Toor, CEO of the Colorado Energy Office. “Housing policy is climate policy, since it has such a profound influence on how far people have to drive. This report shines a much needed spotlight on the underproduction of housing in high opportunity urban areas – where the jobs are – and on how and where we should be removing barriers to new housing to increase equity, improve our economy and make progress on climate. ”

Up for Growth’s 2022 Housing Underproduction in the United States is a first-of-its-kind longitudinal study tracking nationwide housing underproduction by county and metropolitan area – the most detailed analysis of local housing underproduction ever produced. By measuring the gap between the number of homes available versus those needed, Up for Growth identified a housing deficit in 47 states and the District of Columbia, and 169 metropolitan areas – finding that housing underproduction in the U.S. reached 3.8 million homes in 2019, up from 1.6 million in 2012.

In 2012, the nation’s affordability problem was concentrated on the coasts and in the Southwest. Today, 47 states and the District of Columbia have seen underproduction rise over the past seven years. The average U.S. state had a housing deficit of 79,000 homes. As a percentage of total housing stock, states with the most severe housing underproduction were, in order of severity: California, Colorado, Utah, Oregon, Washington, Washington DC, Arizona, Minnesota, New Jersey, and Massachusetts. New to the list since 2012 are six states: Nevada, Missouri, South Carolina, Rhode Island, Oklahoma, and Mississippi.

The report also includes a plan that quantifies the potential economic, fiscal, social and environmental benefits of building millions of new homes. A Better Foundation is Up for Growth’s new and innovative housing policy framework that can help policymakers craft tailored housing solutions to improve economic vibrancy and resiliency. Up for Growth data finds that building 3.8 million additional homes would create increased housing affordability, add $209 billion to the U.S. GDP, generate $7 billion in additional local revenue, and reduce C02 emissions to the equivalent of 7.7 billion fewer miles traveled annually at full buildout.

“With the nation 3.8 million homes short of meeting housing needs, the U.S. is in an extreme state of housing underproduction,” said Mike Kingsella, Chief Executive Officer of Up for Growth. “Housing affordability is foundational for building and sustaining healthy local economies, and provides individuals and families with the stability necessary to invest in themselves and their communities. The Housing Underproduction report offers policymakers solutions to help create more homes while also improving equity, community resilience, and addressing drivers of climate change. It is vital that we act now to address America’s most urgent economic, environmental and social equity crisis.”

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