Housing affordability continues to be one of the chief drivers of economic growth in America, with a lower cost of housing freeing up more capital to legions of Americans. By multiple measures, America retains the most affordable, largest, and most luxurious housing in the world.
1. America has the most affordable housing in the world.
Countries by percentage of housing that is seriously or severely unaffordable:
United States: 28%
United Kingdom: 94%
New Zealand: 100%
* Source: Demographia National Housing Affordability Survey
2. Housing in America is more private and luxurious than anywhere else in the world.
Percentage of housing that is detached (single-family):
United States: 70%
United Kingdom: 69%
* Source: National University of Singapore Institute of Real Estate Studies Housing Price Index Construction in the Nascent Housing Market
3. Housing in America is larger than in other countries
Average size of housing by country:
USA: 2500 square feet
Australia: 2200 square feet
New Zealand: 2050 square feet
Canada: 1850 square feet
Japan: 1350 square feet
Singapore: 850 square feet
Ireland + UK: 800 square feet
China: 500 square feet
* Source: Geographies in Demographia Australian Bureau of Statistics