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Arizona's housing deficit increased 1,377% since 2012, report says

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Posted at 8:53 AM, Jul 19, 2022
and last updated 2022-07-19 11:53:20-04

Arizona's housing deficit has increased 1,377% since 2012 — representing 122,683 homes — according to a report by Washington, D.C.-based Up for Growth.

The report — which ranks Arizona eighth in the nation in terms of the severity of its housing deficit — calls for a need to build more homes, especially affordable homes. When Up for Growth did the study in 2012, Arizona didn't even have a housing deficit issue, said Mike Kingsella [bizjournals.com], CEO of Up for Growth.

Nationwide, housing underproduction reached 3.8 million units in 2019, up from 1.6 million in 2012, according to the report.

Building an additional 3.8 million homes nationwide would create increased housing affordability, add $209 billion to the U.S. GOP, generate $7 billion in additional local revenue and reduce CO2 emissions to the equivalent of 7.7 billion fewer miles traveled annually at full buildout, according to the report [upforgrowth.org].

Read more of this story from the Business Journal.