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Analysis: Home Prices & Homelessness by State [New LendingTree Report]

Written by Posted On Wednesday, 16 March 2022 07:14
Analysis: Home Prices & Homelessness by State [New LendingTree Report]

Though estimates are constantly in flux, the latest data indicates there are more than 575,000 people in the U.S. who are considered homeless. To put that in perspective, that’s larger than the total populations of many major cities, including Atlanta, Miami and Sacramento, Calif.

But where are these homeless people located? To answer that, LendingTree analyzed housing data to determine the states with the largest and smallest homeless populations. We also looked at how home prices play a role. Here's what we found: 

  • California, New York and Florida have the largest homeless populations. Across the three states, more than 280,000 people are homeless — that’s nearly half of the total U.S. homeless population.
  • North Dakota, Wyoming and South Dakota have the smallest homeless populations. North Dakota (541) and Wyoming (612) are the only states with fewer than 1,000 people who are homeless. 
  • States with more expensive housing tend to have proportionally higher homeless populations.
  • The share of sheltered homeless people is highest in New York state at 95.01%, but it’s considerably lower in California at 29.64%.

You can see our full report and state rankings here: https://www.lendingtree.com/home/mortgage/homelessness-study/

LendingTree's Senior Economic Analyst and report author, Jacob Channel, had this to say:

"It may be tempting to assume that a simple solution to homelessness is to just reallocate a relatively small portion of the country’s millions of vacant housing units so that the approximately 575,000 homeless people who are in the U.S. have a place to live. However, because the vast majority of the nation’s vacant houses aren’t just sitting around abandoned, and are instead already owned as a secondary home, or are on the market waiting to be bought or rented, this solution is far from as practical as it may appear on the surface."

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LendingTree is an online lending marketplace headquartered in the United States. The business platform allows potential borrowers to connect with multiple loan operators to find optimal terms for loans, credit cards, deposit accounts, insurance, etc.

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