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Regional Home Prices and Household Income Data
Data Science and Analytics
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About
This collection of data analyses the relationship between the cost of homes and average income across various geographical regions of the United States over a period of time. The data provides a valuable foundation for understanding the dynamics of the US Real Estate Market and its interaction with the broader US Economy. Researchers may intend to enhance this data with external economic indicators, such as those from the Federal Reserve Economic Data (FRED), to further clarify market insights.
Columns
The dataset contains 10 distinct columns, detailing key metrics:
- Year: Indicates the year represented by the record, spanning 2014 through 2022.
- Month: Specifies the month of the data recording, with 12 unique values present.
- Region: Defines the US region covered, featuring 5 unique regional values.
- Home Size: Details the size of the homes represented, including 3 unique categories (e.g., Double).
- Average Sales Price: The average sales price observed. Values range widely, from approximately 33.9k to 178k.
- Number of Households (Thousands): The count of households, reported in thousands, with values ranging from 22k up to 131k.
- Median Income - Current Dollars: The median income expressed in current (unadjusted) dollars.
- Median Income - 2022 Dollars: The median income adjusted to reflect 2022 dollar value.
- Mean Income - Current Dollars: The mean income expressed in current (unadjusted) dollars.
- Mean Income - 2022 Dollars: The mean income adjusted to reflect 2022 dollar value.
Distribution
The data is provided in a tabular format, specifically as a CSV file named
RealEstateUnitedStates.CSV, which is approximately 122.05 kB in size. It consists of 10 columns and features 1575 valid records. The data is not expected to be updated.Usage
This data is highly usable for quantitative analysis, modeling, and visualisation purposes. Ideal applications include:
- Economic Modeling: Constructing models to predict future housing affordability or market trends based on regional income shifts.
- Regional Comparison: Benchmarking real estate performance and income growth across different US regions.
- Affordability Studies: Analysing the historical ratio between income levels (median and mean) and average home sales prices.
- Time Series Analysis: Observing how housing costs and income metrics have changed between 2014 and 2022.
Coverage
The scope covers various regions within the United States. The time range documented is 2014 through 2022. The Midwestern region is frequently represented in the data. The dataset includes detailed financial metrics such as median and mean income, provided in both current and 2022 adjusted dollars, alongside data on average sales prices and household counts.
License
CC0: Public Domain
Who Can Use It
The dataset is highly relevant for a diverse group of users interested in US economic and housing trends:
- Data Scientists and Economists: To build predictive models of the US Real Estate Market.
- Urban Planners and Policy Makers: To assess housing affordability and regional economic stability.
- Real Estate Analysts: To perform due diligence and market research on historical regional performance.
- Academic Researchers: To study macro-economic influences on wealth distribution and property values.
Dataset Name Suggestions
- US Regional Housing Costs and Income Metrics (2014-2022)
- US Real Estate vs. Income Dynamics
- Census Data Analysis of American Housing Affordability
- Regional Home Prices and Household Income Data
Attributes
Original Data Source: Regional Home Prices and Household Income Data
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