By Paul Emrath, Ph.D.
Vice President for Survey and Housing Policy Research
National Association of Home Builders
Report available to the public as a courtesy of HousingEconomics.com
In October, NAHB released an updated version of the statistical model it maintains for estimating the average price of a single-family home (see NAHB House Price Estimator, Updated). This article announces the release of a companion model, designed to estimate average gross rent for an apartment in a building with five or more housing units. Like the house price model, the NAHB rent estimator is calibrated with data from the American Housing Survey (AHS), a nationally representative survey of housing units conducted by the U.S. Census Bureau and funded by the Department of Housing and Urban Development (HUD). Also like the house price model, the rent estimator has been made available online in a form that readers with compatible web browsers and internet service providers can access and run interactively. Full Story