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Glossary

Plain-language definitions of the housing and rent terms used across HomeDataUSA.

American Community Survey (ACS)
The U.S. Census Bureau's continuous sample survey. It provides the median home value, median gross rent, homeownership rate, housing-unit age and vacancy figures on this site, published as 5-year estimates so that every place is covered.
Median home value
The midpoint of what owner-occupants estimate their home is worth in the ACS — half of homes are valued above it, half below. It reflects owners' own estimates, not recorded sale prices, and covers all owner-occupied homes rather than only those recently sold.
Median gross rent
The midpoint of monthly housing cost for renter households, including contract rent plus utilities and fuels (electricity, gas, water, sewer) paid by the renter. "Contract rent" excludes utilities and is therefore lower.
Fair Market Rent (FMR)
An estimate published every year by the U.S. Department of Housing and Urban Development (HUD), usually set at the 40th percentile of rents for standard-quality units in a metro area or non-metro county. FMRs are broken out by bedroom count and are used to set housing-voucher payment standards.
House Price Index (HPI)
A measure from the Federal Housing Finance Agency (FHFA) that tracks the change in single-family house prices over time using repeat sales and refinancings of the same properties. It shows appreciation as an index and percentage, not a dollar price level.
Rent burden
The share of renter households paying 30% or more of their income on gross rent. Households above 50% are considered severely rent-burdened. It is the standard federal measure of housing affordability for renters.
Price-to-income ratio
Median home value divided by median household income for the same area. A ratio of 3 has historically been considered affordable; ratios above 5 indicate homes cost more than five years of a typical household's entire pre-tax income.
Vacancy rate
The share of housing units that are unoccupied. The ACS separately reports homeowner vacancy and rental vacancy. Very low rental vacancy (under ~5%) usually signals a tight market with upward pressure on rents.
Homeownership rate
Owner-occupied housing units divided by all occupied housing units. Vacant units are excluded from the calculation.
Building Permits Survey (BPS)
A monthly Census Bureau survey counting residential building permits issued by local jurisdictions. It is the earliest available signal of new housing supply, used here for the "new construction" rankings.
Housing unit
A house, apartment, mobile home, or single room occupied or intended as separate living quarters. It is the Census Bureau's basic counting unit for housing, distinct from a household (the people living in the unit).
Median year structure built
The year that divides an area's housing stock in half by age — half of units were built before it, half after. A recent median indicates a fast-growing area; an early median points to an older, established housing stock.
Margin of error (MOE)
The uncertainty range on every ACS estimate, published at 90% confidence and shown here as "± amount". It is largest for small places and small subgroups, where the value should be read as a broad range rather than a precise figure.
Metropolitan statistical area (metro area)
A core urban county plus surrounding counties linked by commuting. HUD sets most Fair Market Rents at the metro level, so a small city's FMR often reflects its whole metro rather than the city alone.

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