In the Media

Median upfront costs, including a security deposit, total about $3,700, said Alexander Hermann, senior research associate at the Joint Center for Housing Studies at Harvard, but they can be far higher in some areas. In New York City, for example, before the rules were changed recently to curb broker fees for tenants, upfront costs averaged about $13,000.

“Insurance helps make homeownership possible and preserves hard-earned home equity when hazards strike,” Steve Koller, a postdoctoral fellow in climate and housing at the Harvard University Joint Center for Housing Studies, wrote in a 2024 blog post.

Public housing was started by the federal government in the 1930s as a way to get people out of overcrowded slums. The buildings were situated on “super blocks” closed off from the street grid to keep cars from driving through, and to keep children safe, said Alexander von Hoffman, a senior research fellow at Harvard Joint Center for Housing Studies.

In 2024, the most recent year with reliable data from the U.S. Census Bureau, nearly half of all renter households in America — 22.7 million — were rent-burdened. That’s the highest number on record, according to the Joint Center for Housing Studies of Harvard University, up nearly 9 percentage points since 2001.

A new report from Harvard University’s Joint Center for Housing Studies predicts spending on remodeling will grow by just 0.5% in the coming year, which is well below the rate of inflation. Rachel Bogardus Drew, director of the Remodeling Futures Program at Harvard’s Joint Center for Housing Studies, said the outlook for the remodeling industry is, in a word, “stable.”

Jennifer Molinsky, who directs the Housing an Aging Society Program at Harvard’s Joint Center for Housing Studies says one reason why is high demand for social support. “At a population level, we see more affordability challenges as people get older, because their incomes are often fixed or just not keeping up with the rising costs around them,” she says.

What does social housing mean in the United States today? This roundtable, convened at the Harvard Graduate School of Design, brings together four housing experts: Chris Herbert, managing director of the Joint Center for Housing Studies and lecturer in urban planning and design; Susanne Schindler, research fellow at the Center; Becca Heilman, graduate research assistant at the Center and master in city planning candidate at the Massachusetts Institute of Technology; and Magda Maaoui, assistant professor of urban planning.

Chris Herbert, managing director of Harvard University’s Joint Center for Housing Studies, said they’re rising much more slowly now than they were a couple of years ago. “Right now, we’re seeing house prices are growing low single digits, basically, less than inflation,” he said. “And so while we say that house prices haven't fallen, they are falling in real terms after we account for inflation.”

“The more repair needs a home has, the more we worry about older adults who are living on a fixed income — especially in this moment when the cost of supplies and the workforce are increasing,” said Samara Scheckler, a researcher with Harvard’s Joint Center for Housing Studies.

Beyond offsetting financial woes, shared living arrangements among older adults can help combat social isolation, said Jennifer Molinsky, director of a program studying affordability and housing policy for aging residents at the Harvard Joint Center for Housing Studies.