The United States housing market is currently trading at a record high, and it doesn’t seem like that will end anytime soon. Many blame this on the higher demand for homes in the country, among other reasons. However, this begs the question; how many houses exist in the US?
There are over 140 million homes in the US, but the country still experiences housing shortages. The common types of homes in the US include Ranch style, Cape Cod, Colonial Style, European style, Queen Anne style, Tudor, Prairie, Mediterranean, and Contemporary homes. Each has its unique features.
However, even though the country is experiencing housing shortages, it still has millions of vacant houses. Here, we examine the current housing market in the country and the common types of homes you’ll find.
Housing Market in the United States
The latest data on the number of homes in the US was from 2020, when the country had 140.8 million homes. It’s expected that the number has now increased, but there’s no exact figure of by how much. Despite that, the number of homes available isn’t enough to cater to the available population. Available data shows that as of 2021, the US was short by 5.24 million houses. The housing shortage is due to the drop in home construction due to several reasons. These reasons, such as supply chain disruption, limited labor, pandemic induced demand, and other issues, made building materials, land, and construction more expensive. This invariably slowed down construction.
The low supply of homes coupled with the higher demand has further led to a massive increase in the price of homes in the US. Since 2020, the average national price of homes has been increasing, and with the inflation, it doesn’t look like this will stop anytime soon. According to Zillow, the typical price of a home in the US is now $331,533, a 20.3% rise in the last year. With the demand for homes still exceeding supply, the price is unlikely to reduce anytime soon.
Types of Homes in the US
With over 140 million homes in the country, you’re right to imagine that the types of houses are probably over a hundred. The US is, after all, the melting pot when it comes to architecture too. But some types of homes are more common in the country than others. The most common types include:
1. Ranch Style House
This is one of the most common types of homes in the US, and while they date back to the 1930s, most that exist were built in the 1950s. This house requires a large amount of land, so they’re more common in the rural areas. The Midwest and some parts of the South are where you’ll find ranch-style houses today. Characteristics include a single-story frame, high ceilings, and open floor plans. It’s not uncommon to find chandeliers and other accessories in such homes. They’re best for elderly people because they’re only one story and anyone who wants space will like them too.
2. Cape Cod Houses
This house which originates from the Cape Cod peninsula is characterized by a single story frame, pitched, and steep roof. Its centrally located fireplace is probably its most unique feature, and it’s most beautiful when near a waterfront. In the US, Cape cod homes vary in size, from mansions to just small homes suitable for small families. They’re common at beachfront locations, but you can find them in places where there’s no water.
3. Colonial Style
These homes have one of the oldest origins in the US, dating back to the 1700s. Their characteristics include two-story floor plans using brick for the construction. You can also bay windows, verandahs, grand entryways, and symmetry. The home style is quite versatile, which means you can find it anywhere in the US. While it’s the revival styles that are now common, they’re still quite valuable and good for large families in need of space.
4. European Style Homes
These homes aren’t for everyone, mostly because of their opulence and style. Original European homes in the US are mansion-like in size and will cost you a significant amount of money. While most European-style houses in the country presently are revival, they usually have distinct features such as stone or marble floors, large fireplaces, and other luxurious features. They’re best for people who aren’t raising kids.
5. Queen Anne Style
This house style dates back to the civil war and has grown popular in the US over time. Unique features include multiple stories, spindle work, and large turrets. Unless it’s a revival, an original Queen Anne-style house will be a bit old, which means you might have to contend with renovations or even remodeling. However, they can house large families as they usually have many rooms.
6. Tudor Homes
They originated from 1600s England and have been modernized over the years. This year, it’s common to find them with very steep roofs, tall and narrow windows, cross gables, and single-story floor plans. These homes usually have between 2 – 3 bedrooms and are ideal for small families who want to enjoy their small space. It’s most common in the southeast united states and several parts of the United Kingdom.
7. Prairie Homes
The credit belongs to Frank Lloyd Wright for designing these types of homes, and they’re still common in the Midwest. They’re great homes for families due to flexibility in size and how they blend with the aesthetics.
8. Mediterranean Homes
These homes are common in warm weather European countries such as Italy and Spain before spreading to the US. You’re most likely to find them in Florida and California. They’re quite versatile and range from simple single-family homes with few bedrooms to multi-story buildings with multiple rooms. They have distinctive red tiles roof.
9. Contemporary Homes
This design covers different types of designs sometimes combined. They’re mostly modern homes with no unique or individual style. But all types of contemporary homes usually have open floor plans, natural light, and large master bedrooms. They can be of various sizes, and you’ll find them in California, New York, Florida, etc.
There are over 140 million housing units in the US which aren’t enough to meet the housing needs in the country. Over the centuries of home constructions in the country, some home styles have grown more popular than others.