According to the US Census Bureau’s latest report, single-family homes continue to grow in size. The median single-family house built in 2014 had 2,453 square feet — an increase of almost 3% over the prior year.
Other highlights from the Housing Characteristics Report:
— The trend is towards four-bedroom homes. In 2014, 46% of homes had four or more bedrooms. Ten years ago, only 37% had four or more bedrooms while 51% had three bedrooms.
— When it comes to outdoor living, porches and patios rule. Over 80% of all homes built had either one or both outdoor features.
— Wood framing dominates construction throughout the U.S. — although concrete represented 13% of homes constructed in the South in 2014.
— Just built your new home in a homeowners’ association (HOA)? Chances are you did! 59% of all single-family homes built in 2014 were constructed in an HOA. Homeowners’ associations have grown increasingly popular in the South and West with 67% and 65%, respectively, of all new single-family homes there being built within HOAs.
— Nationally, the median contract price per square foot for new single-family homes edged up approximately 3.5% to $96.72 per square foot. However, regional growth in construction costs varied greatly. In the West, costs per square foot increased a whopping 15.2% while costs in the Midwest were relatively contained with a growth rate of approximately 2.6%.
The data is collected from the US Census Bureau’s annual Survey of Construction (SOC) in conjunction with the US Department of Housing and Urban Development (HUD). For more information and data from the latest US Census Bureau report, please click here. The US Census Bureau also created a entertaining infographic for those looking for something a bit more visual.
