Population, employment, and housing stock relative growth rates, New York City
Index of population, employment, and housing units (2006=100), New York City
Interpretation of NYC example
Between 2006 and 2016, growth of the total number of housing units of 4.6 percent lagged behind the 18 percent increase in employment and the 7.5 percent increase in the adult population, the latter being indicators of the degree of the increase in demand for housing.
How to construct
The housing and population data are downloaded from American Fact Finder; the employment data are downloaded from FRED. The population data are obtained for New York City from TABLE S0101 AGE AND SEX for the one-year ACS estimates for 2006 through 2016. This table includes the total number of people by age (adults are people age 18 or older). The housing unit data are obtained for New York City from TABLE B25001 HOUSING UNITS for the one-year ACS estimates for 2006 through 2016. The employment data are downloaded from FRED, a tool provided by the Federal Reserve Bank of St. Louis. Specifically, Nonfarm Employment for all non-farm industries for 2006 through 2016 are collected for New York City. We create an index for each value by setting 2006 equal to 100, then dividing each year’s data point by the 2006 value.
Data are shown for one specific area only (New York City, in this case). This data are displayed as a line chart with three lines each representing the housing units supply growth, population growth, and employment growth. The growth rates can be positive or negative, which is why 0.00% is in the middle of the graph with year variables along the horizontal line.