VITAL SIGNS INDICATOR
Housing Permits (LU3)

FULL MEASURE NAME
Permitted housing units

LAST UPDATED
February 2023

DESCRIPTION
Housing growth is measured in terms of the number of units that local jurisdictions permit throughout a given year. A permitted unit is a unit that a city or county has authorized for construction.

DATA SOURCE
California Housing Foundation/Construction Industry Research Board (CIRB) - https://www.cirbreport.org/
Construction Review report (1967-2022)

Association of Bay Area Governments (ABAG) – Metropolitan Transportation Commission (MTC) - https://data.bayareametro.gov/Development/HCD-Annual-Progress-Report-Jurisdiction-Summary/nxbj-gfv7
Housing Permits Database (2014-2021)

Census Bureau Building Permit Survey - https://www2.census.gov/econ/bps/County/
Building permits by county (annual, monthly)

CONTACT INFORMATION
vitalsigns.info@bayareametro.gov

METHODOLOGY NOTES (across all datasets for this indicator)
Bay Area housing permits data by single/multi family come from the California Housing Foundation/Construction Industry Research Board (CIRB). Affordability breakdowns from 2014 to 2021 come from the Association of Bay Area Governments (ABAG) – Metropolitan Transportation Commission (MTC) Housing Permits Database.

Single-family housing units include detached, semi-detached, row house and town house units. Row houses and town houses are included as single-family units when each unit is separated from the adjacent unit by an unbroken ground-to-roof party or fire wall. Condominiums are included as single-family units when they are of zero-lot-line or zero-property-line construction; when units are separated by an air space; or, when units are separated by an unbroken ground-to-roof party or fire wall. Multi-family housing includes duplexes, three-to-four-unit structures and apartment-type structures with five units or more. Multi-family also includes condominium units in structures of more than one living unit that do not meet the single-family housing definition.

Each multi-family unit is counted separately even though they may be in the same building. Total units is the sum of single-family and multi-family units. County data is available from 1967 whereas city data is available from 1990. City data is only available for incorporated cities and towns. All permits in unincorporated cities and towns are included under their respective county’s unincorporated total. Permit data is not available for years when the city or town was not incorporated.

Affordable housing is the total number of permitted units affordable to low and very low income households. Housing affordable to very low income households are households making below 50% of the area median income. Housing affordable to low income households are households making between 50% and 80% of the area median income. Housing affordable to moderate income households are households making below 80% and 120% of the area median income. Housing affordable to above moderate income households are households making above 120% of the area median income.

Permit data is missing for the following cities and years:
Clayton, 1990-2007
Lafayette, 1990-2007
Moraga, 1990-2007
Orinda, 1990-2007
San Ramon, 1990

Building permit data for metropolitan areas for each year is the sum of non-seasonally adjusted monthly estimates from the Census Building Permit Survey. The Bay Area values are the sum of the San Francisco-Oakland-Hayward MSA and the San Jose-Sunnyvale-Santa Clara MSA. The counties included in these areas are: San Francisco, Marin, Contra Costa, Alameda, San Mateo, Santa Clara, and San Benito.

Permit values reflect the number of units permitted in each respective year. Note that the data columns come from difference sources. The columns (SFunits, MFunits, TOTALunits, SF_Share and MF_Share) are sourced from CIRB. The columns (VeryLowunits, Lowunits, Moderateunits, AboveModerateunits, VeryLow_Share, Low_Share, Moderate_Share, AboveModerate_Share, Affordableunits and Affordableunits_Share) are sourced from the ABAG Housing Permits Database. Due to the slightly different methodologies that exist within each of those datasets, the total units from each of the two sources might not be consistent with each other.

As shown, three different data sources are used for this analysis of housing permits issued in the Bay Area. Data from the Construction Industry Research Board (CIRB) represents the best available data source for examining housing permits issued over time in cities and counties across the Bay Area, dating back to 1967. In recent years, Annual Progress Report (APR) data collected by the California Department of Housing and Community Development has been available for analyzing housing permits issued by affordability levels. Since CIRB data is only available for California jurisdictions, the U.S. Census Bureau provides the best data source for comparing housing permits issued across different metropolitan areas. Notably, annual permit totals for the Bay Area differ across these three data sources, reflecting the limitations of needing to use different data sources for different purposes.

This table contains data described by the following dimensions (Not all combinations are available): Geography (11 items: Canada; Prince Edward Island; Nova Scotia; Newfoundland and Labrador ...), Housing estimates (3 items: Housing starts; Housing under construction; Housing completions ...), Type of unit (6 items: Total units; Semi-detached; Single-detached; Multiples ...).

The Department of Finance (DOF) is required by NY State law to value condominiums or cooperatives as if they were residential rental apartment buildings. DOF uses income information from rental properties similar in physical features and location to the condominiums or cooperatives. DOF applies this income data to the condominium or cooperative and determine its value in the same way DOF values rental apartment buildings. Update Frequency: Annually

SCAG has developed its regional geospatial dataset of land use information at the parcel-level (approximately five million parcels) for 197 local jurisdictions in its region. The regional land use dataset is developed (1) to aid in SCAG’s regional transportation planning, scenario planning and growth forecasting, (2) facilitate policy discussion on various planning issues, and (3) enhance information database to better serve SCAG member jurisdictions, research institutes, universities, developers, general public, etc. This is SCAG's 2016 regional land use dataset developed for the Final Connect SoCal, the 2020-2045 Regional Transportation Plan/Sustainable Communities Strategy (RTP/SCS), including general plan land use, specific plan land use, zoning code and existing land use. Please note this data was reviewed by local jurisdictions and reflects each jurisdiction's input received during the Connect SoCal Local Input and Envisioning Process.Note: This dataset is intended for planning purposes only, and SCAG shall incur no responsibility or liability as to the completeness, currentness, or accuracy of this information. SCAG assumes no responsibility arising from use of this information by individuals, businesses, or other public entities. The information is provided with no warranty of any kind, expressed or implied, including but not limited to the implied warranties of merchantability and fitness for a particular purpose. Users should consult with each local jurisdiction directly to obtain the official land use information.Data DictionaryField NameData TypeField DescriptionOBJECTIDObject IDInternal feature numberShapeGeometryType of geometrySCAGUID16Text2016 SCAG unique identification numberSCAGUID12Text2012 SCAG unique identification numberAPNTextAssessor’s parcel numberCOUNTYTextCounty nameCOUNTY_IDDoubleCounty FIPS codeCITYTextCity nameCITY_IDDoubleCity FIPS codeACRESDoubleAcreage informationYEARDoubleDataset yearCITY_GP_COText2016 Jurisdiction’s general plan land use designationSCAG_GP_COText2016 SCAG general plan land use codeDENSITYDoubleAverage density of residential/housing development (dwelling unit per acre) permitted based on jurisdiction’s general planLOWDoubleMinimum density of residential/housing development permitted (dwelling unit per acre) based on jurisdiction’s general planHIGHDoubleMaximum density of residential/housing development permitted (dwelling unit per acre) based on jurisdiction’s general planYEAR_ADOPTDateYear when jurisdiction adopted/last updated current general plan land use elementGP12_CITYText2012 jurisdiction’s general plan land use designationGP12_SCAGText2012 SCAG general plan land use codeSP_NAMETextSpecific plan nameCITY_SP_COText2016 Jurisdiction’s specific plan land use designationSCAG_SP_COText2016 SCAG specific plan land use codeDENSITY_SPDoubleAverage density of residential/housing development (dwelling unit per acre) permitted based on jurisdiction’s specific planLOW_SPDoubleMinimum density of residential/housing development permitted (dwelling unit per acre) based on jurisdiction’s specific planHIGH_SPDoubleMaximum density of residential/housing development permitted (dwelling unit per acre) based on jurisdiction’s specific planYR_AD_SPDateYear when jurisdiction adopted/last updated current specific planSP_INDEXShort IntegerSpecific plan index ('0' = outside specific plan area; '1' = inside specific plan area)CITY_ZN_COText2016 Jurisdiction’s zoning codeSCAG_ZN_COText2016 SCAG zoning codeZN12_CITYText2012 jurisdiction’s zoning codeLU16Text2016 SCAG existing land use codeLU12Text2012 SCAG existing land use codeNOTESTextAdditional informationShape_LengthDoubleLength of feature in internal unitsShape_AreaDoubleArea of feature in internal units squared2016 SCAG Land Use CodesLegendLand Use DescriptionSingle Family Residential1110 Single Family Residential1111 High Density Single Family Residential (9 or more DUs/ac)1112 Medium Density Single Family Residential (3-8 DUs/ac)1113 Low Density Single Family Residential (2 or less DUs/ac)Multi-Family Residential1120 Multi-Family Residential1121 Mixed Multi-Family Residential1122 Duplexes, Triplexes and 2- or 3-Unit Condominiums and Townhouses1123 Low-Rise Apartments, Condominiums, and Townhouses1124 Medium-Rise Apartments and Condominiums1125 High-Rise Apartments and CondominiumsMobile Homes and Trailer Parks1130 Mobile Homes and Trailer Parks1131 Trailer Parks and Mobile Home Courts, High-Density1132 Mobile Home Courts and Subdivisions, Low-DensityMixed Residential1140 Mixed Residential1100 ResidentialRural Residential1150 Rural ResidentialGeneral Office1210 General Office Use1211 Low- and Medium-Rise Major Office Use1212 High-Rise Major Office Use1213 SkyscrapersCommercial and Services1200 Commercial and Services1220 Retail Stores and Commercial Services1221 Regional Shopping Center1222 Retail Centers (Non-Strip With Contiguous Interconnected Off-Street Parking)1223 Retail Strip Development1230 Other Commercial1231 Commercial Storage1232 Commercial Recreation1233 Hotels and MotelsFacilities1240 Public Facilities1241 Government Offices1242 Police and Sheriff Stations1243 Fire Stations1244 Major Medical Health Care Facilities1245 Religious Facilities1246 Other Public Facilities1247 Public Parking Facilities1250 Special Use Facilities1251 Correctional Facilities1252 Special Care Facilities1253 Other Special Use FacilitiesEducation1260 Educational Institutions1261 Pre-Schools/Day Care Centers1262 Elementary Schools1263 Junior or Intermediate High Schools1264 Senior High Schools1265 Colleges and Universities1266 Trade Schools and Professional Training FacilitiesMilitary Installations1270 Military Installations1271 Base (Built-up Area)1272 Vacant Area1273 Air Field1274 Former Base (Built-up Area)1275 Former Base Vacant Area1276 Former Base Air FieldIndustrial1300 Industrial1310 Light Industrial1311 Manufacturing, Assembly, and Industrial Services1312 Motion Picture and Television Studio Lots1313 Packing Houses and Grain Elevators1314 Research and Development1320 Heavy Industrial1321 Manufacturing1322 Petroleum Refining and Processing1323 Open Storage1324 Major Metal Processing1325 Chemical Processing1330 Extraction1331 Mineral Extraction - Other Than Oil and Gas1332 Mineral Extraction - Oil and Gas1340 Wholesaling and WarehousingTransportation, Communications, and Utilities1400 Transportation, Communications, and Utilities1410 Transportation1411 Airports1412 Railroads1413 Freeways and Major Roads1414 Park-and-Ride Lots1415 Bus Terminals and Yards1416 Truck Terminals1417 Harbor Facilities1418 Navigation Aids1420 Communication Facilities1430 Utility Facilities1431 Electrical Power Facilities1432 Solid Waste Disposal Facilities1433 Liquid Waste Disposal Facilities1434 Water Storage Facilities1435 Natural Gas and Petroleum Facilities1436 Water Transfer Facilities1437 Improved Flood Waterways and Structures1438 Mixed Utilities1440 Maintenance Yards1441 Bus Yards1442 Rail Yards1450 Mixed Transportation1460 Mixed Transportation and UtilityMixed Commercial and Industrial1500 Mixed Commercial and IndustrialMixed Residential and Commercial1600 Mixed Residential and Commercial1610 Residential-Oriented Residential/Commercial Mixed Use1620 Commercial-Oriented Residential/Commercial Mixed UseOpen Space and Recreation1800 Open Space and Recreation1810 Golf Courses1820 Local Parks and Recreation1830 Regional Parks and Recreation1840 Cemeteries1850 Wildlife Preserves and Sanctuaries1860 Specimen Gardens and Arboreta1870 Beach Parks1880 Other Open Space and Recreation1890 Off-Street TrailsAgriculture2000 Agriculture2100 Cropland and Improved Pasture Land2110 Irrigated Cropland and Improved Pasture Land2120 Non-Irrigated Cropland and Improved Pasture Land2200 Orchards and Vineyards2300 Nurseries2400 Dairy, Intensive Livestock, and Associated Facilities2500 Poultry Operations2600 Other Agriculture2700 Horse RanchesVacant3000 Vacant3100 Vacant Undifferentiated3200 Abandoned Orchards and Vineyards3300 Vacant With Limited Improvements3400 Beaches (Vacant)1900 Urban VacantWater4000 Water4100 Water, Undifferentiated4200 Harbor Water Facilities4300 Marina Water Facilities4400 Water Within a Military Installation4500 Area of Inundation (High Water)Specific Plan7777 Specific PlanUnder Construction1700 Under ConstructionUndevelopable or Protected Land8888 Undevelopable or Protected LandUnknown9999 Unknown

This dataset includes two tables which were custom ordered from Statistics Canada. One table includes variables on housing characteristics (condominium status, total number of bedrooms, structural type and tenure), and households (household size, household type, age of primary household maintainer). One table includes information on shelter cost to income ratio and total shelter cost by tenure, household type, and household income. The dataset is in Beyond 20/20 (.ivt) format. The Beyond 20/20 browser is required in order to open it. This software can be freely downloaded from the Statistics Canada website: https://www.statcan.gc.ca/eng/public/beyond20-20 (Windows only). For information on how to use Beyond 20/20, please see: http://odesi2.scholarsportal.info/documentation/Beyond2020/beyond20-quickstart.pdf https://wiki.ubc.ca/Library:Beyond_20/20_Guide Custom order from Statistics Canada TABLE 3 includes the following dimensions and variables: Geography: Toronto CMA & Vancouver CMA to the census tract level Age of Household maintainer: Age groups are divided into 9 year intervals starting at age 15 and ending at category 75 and above Condominium status: Condominium, not a condominium Tenure: Owner, renter Household size: From one person up to 5 or more persons Structural type: -Single detached house -Apartment with 5 or more stories -Other dwelling -Semi-detached house -Row house -Apartment, detached duplex -Apartment, building with fewer than 5 stories -Other single attached house -Movable dwelling Total number of bedrooms: From no bedrooms to 4 or more bedrooms Household type: -Census-family households -With children -Without children -Multiple census-family households -Non-census family household TABLE 4 includes the following dimensions and variables: Geography: Toronto CMA, Vancouver CMA Total Shelter cost: under $500 to over $3000 in intervals ranging from $250 to $500 Tenure: Owner (with and without mortgage), renter Household type: -Census-family households -One-family households -Couple family households -With children -Without children -Lone-parent households -Multiple census-family households -Non-census-family households -One person households -Two person households Shelter cost to income ratio: less than 15%, 15-30%, 30-50%, 50% or more, not applicable Household income: in intervals of 10,000 up to the category of $100,000 or more Original file name: EO2969 - Table 3 Tenure and dwelling_Toronto and Vancouver 2006.ivt EO2969 - Table 4 (Part 1) Cost income household_Toronto and Vancouver_2006.ivt

Distribution of Local Roll by Property Type, Distribution of Assessment Appeals by Property Type, July 24, 2019BOE Open Data PortalDistribution of Local Roll - Unsecured Miscellaneous (0)Distribution of Local Roll - Totals (1)Distribution of Local Roll - Secured Miscellaneous (2)Distribution of Local Roll - Secured Rural and Agricultural (3)Distribution of Local Roll - Secured Residential Vacant Land, Single Family, Condominiums (4)Distribution of Local Roll - Secured Residential Manufactured Homes, Time Shares, Multi Family Homes (5)Distribution of Local Roll - Unsecured Property Improvements (6)Distribution of Local Roll - Secured Commercial and Industrial (7)Distribution of Local Roll - Unsecured Aircraft and Vessels (8)Distribution of Assessment Appeals by Property Type (9)

This is SCAG 2019 Regional Land Use dataset developed for the final 2024 Connect SoCal, the 2024-2050 Regional Transportation Plan/Sustainable Communities Strategy (RTP/SCS), including general plan land use, specific plan land use, zoning code, and existing land use at parcel-level (approximately five million parcels) for 197 local jurisdictions in the SCAG region.The regional land use dataset is developed (1) to aid in SCAG’s regional transportation planning, scenario planning and growth forecasting, (2) facilitate policy discussion on various planning issues, and (3) enhance information database to better serve SCAG member jurisdictions, research institutes, universities, developers, general public, etc. It is the most frequently and widely utilized SCAG geospatial data. From late 2019 to early 2020, SCAG staff obtained the 2019 parcel boundary GIS file and tax roll property information from county assessor’s offices. After months of data standardization and clean-up process, SCAG staff released the 2019 parcel boundary GIS files along with the 2019 Annual Land Use dataset in February 2021. In December 2021, SCAG staff successfully developed the preliminary dataset of the 2019 regional land use data and released the draft SCAG Data/Map Book in May 2022. The preliminary land use data was reviewed by local jurisdictions during the Local Data Exchange (LDX) process for Connect SoCal 2024. As a part of the final 2019 regional land use data development process, SCAG staff made every effort to review the local jurisdictions’ inputs and comments and incorporated any updates to the regional land use datasets. The products of this project has been used as one of the key elements for Connect SoCal 2024 plan development, growth forecasting, scenario planning, and SCAG’s policy discussion on various planning issues, as well as Connect SoCal key growth strategy analysis.Note: This dataset is intended for planning purposes only, and SCAG shall incur no responsibility or liability as to the completeness, currentness, or accuracy of this information. SCAG assumes no responsibility arising from use of this information by individuals, businesses, or other public entities. The information is provided with no warranty of any kind, expressed or implied, including but not limited to the implied warranties of merchantability and fitness for a particular purpose. Users should consult with each local jurisdiction directly to obtain the official land use information.2019 SCAG Land Use Codes: LegendLand Use Description Single Family Residential1110 Single Family Residential 1111 High Density Single Family Residential (9 or more DUs/ac) 1112 Medium Density Single Family Residential (3-8 DUs/ac) 1113 Low Density Single Family Residential (2 or less DUs/ac)Multi-Family Residential1120 Multi-Family Residential 1121 Mixed Multi-Family Residential1122 Duplexes, Triplexes and 2- or 3-Unit Condominiums and Townhouses1123 Low-Rise Apartments, Condominiums, and Townhouses1124 Medium-Rise Apartments and Condominiums1125 High-Rise Apartments and CondominiumsMobile Homes and Trailer Parks1130 Mobile Homes and Trailer Parks1131 Trailer Parks and Mobile Home Courts, High-Density1132 Mobile Home Courts and Subdivisions, Low-DensityMixed Residential1140 Mixed Residential1100 ResidentialRural Residential 1150 Rural ResidentialGeneral Office1210 General Office Use 1211 Low- and Medium-Rise Major Office Use 1212 High-Rise Major Office Use 1213 SkyscrapersCommercial and Services1200 Commercial and Services1220 Retail Stores and Commercial Services 1221 Regional Shopping Center 1222 Retail Centers (Non-Strip With Contiguous Interconnected Off-Street Parking) 1223 Retail Strip Development1230 Other Commercial 1231 Commercial Storage 1232 Commercial Recreation 1233 Hotels and MotelsFacilities1240 Public Facilities1241 Government Offices1242 Police and Sheriff Stations1243 Fire Stations1244 Major Medical Health Care Facilities1245 Religious Facilities1246 Other Public Facilities1247 Public Parking Facilities1250 Special Use Facilities1251 Correctional Facilities1252 Special Care Facilities1253 Other Special Use FacilitiesEducation1260 Educational Institutions1261 Pre-Schools/Day Care Centers1262 Elementary Schools1263 Junior or Intermediate High Schools1264 Senior High Schools1265 Colleges and Universities1266 Trade Schools and Professional Training FacilitiesMilitary Installations1270 Military Installations1271 Base (Built-up Area)1272 Vacant Area1273 Air Field1274 Former Base (Built-up Area)1275 Former Base Vacant Area1276 Former Base Air FieldIndustrial1300 Industrial 1310 Light Industrial1311 Manufacturing, Assembly, and Industrial Services1312 Motion Picture and Television Studio Lots1313 Packing Houses and Grain Elevators1314 Research and Development1320 Heavy Industrial1321 Manufacturing1322 Petroleum Refining and Processing1323 Open Storage1324 Major Metal Processing1325 Chemical Processing1330 Extraction1331 Mineral Extraction - Other Than Oil and Gas1332 Mineral Extraction - Oil and Gas1340 Wholesaling and WarehousingTransportation, Communications, and Utilities1400 Transportation, Communications, and Utilities 1410 Transportation1411 Airports1412 Railroads1413 Freeways and Major Roads1414 Park-and-Ride Lots1415 Bus Terminals and Yards1416 Truck Terminals1417 Harbor Facilities1418 Navigation Aids1420 Communication Facilities1430 Utility Facilities1431 Electrical Power Facilities1432 Solid Waste Disposal Facilities1433 Liquid Waste Disposal Facilities1434 Water Storage Facilities1435 Natural Gas and Petroleum Facilities1436 Water Transfer Facilities 1437 Improved Flood Waterways and Structures1438 Mixed Utilities1440 Maintenance Yards1441 Bus Yards1442 Rail Yards1450 Mixed Transportation1460 Mixed Transportation and UtilityMixed Commercial and Industrial1500 Mixed Commercial and IndustrialMixed Residential and Commercial1600 Mixed Residential and Commercial 1610 Residential-Oriented Residential/Commercial Mixed Use 1620 Commercial-Oriented Residential/Commercial Mixed UseOpen Space and Recreation1800 Open Space and Recreation 1810 Golf Courses 1820 Local Parks and Recreation 1830 Regional Parks and Recreation 1840 Cemeteries 1850 Wildlife Preserves and Sanctuaries 1860 Specimen Gardens and Arboreta 1870 Beach Parks 1880 Other Open Space and Recreation 1890 Off-Street TrailsAgriculture2000 Agriculture2100 Cropland and Improved Pasture Land2110 Irrigated Cropland and Improved Pasture Land2120 Non-Irrigated Cropland and Improved Pasture Land2200 Orchards and Vineyards2300 Nurseries2400 Dairy, Intensive Livestock, and Associated Facilities2500 Poultry Operations2600 Other Agriculture2700 Horse RanchesVacant3000 Vacant3100 Vacant Undifferentiated3200 Abandoned Orchards and Vineyards3300 Vacant With Limited Improvements3400 Beaches (Vacant)1900 Urban VacantWater4000 Water4100 Water, Undifferentiated4200 Harbor Water Facilities4300 Marina Water Facilities4400 Water Within a Military Installation4500 Area of Inundation (High Water)Specific Plan7777 Specific PlanUnder Construction1700 Under ConstructionUndevelopable or Protected Land8888 Undevelopable or Protected LandUnknown9999 Unknown

VITAL SIGNS INDICATOR
Rent Payments (EC8)

FULL MEASURE NAME
Median rent payment

LAST UPDATED
January 2023

DESCRIPTION
Rent payments refer to the cost of leasing an apartment or home and serves as a measure of housing costs for individuals who do not own a home. The data reflect the median monthly rent paid by Bay Area households across apartments and homes of various sizes and various levels of quality. This differs from advertised rents for available apartments, which usually are higher. Note that rent can be presented using nominal or real (inflation-adjusted) dollar values; data are presented inflation-adjusted to reflect changes in household purchasing power over time.

DATA SOURCE
U.S. Census Bureau: Decennial Census - https://nhgis.org
Count 2 (1970)
Form STF1 (1980-1990)
Form SF3a (2000)

U.S. Census Bureau: American Community Survey - https://data.census.gov/
Form B25058 (2005-2021; median contract rent)

Bureau of Labor Statistics: Consumer Price Index - https://www.bls.gov/data/
1970-2021

CONTACT INFORMATION
vitalsigns.info@mtc.ca.gov

METHODOLOGY NOTES (across all datasets for this indicator)
Rent data reflects median rent payments rather than list rents (refer to measure definition above). American Community Survey 1-year data is used for larger geographies – Bay counties and most metropolitan area counties – while smaller geographies rely upon 5-year rolling average data due to their smaller sample sizes. Note that 2020 data uses the 5-year estimates because the ACS did not collect 1-year data for 2020.

1970 Census data for median rent payments has been imputed from quintiles using methodology from California Department of Finance as the source data only provided the mean, rather than the median, monthly rent. Metro area boundaries reflects today’s metro area definitions by county for consistency, rather than historical metro area boundaries.

Inflation-adjusted data are presented to illustrate how rent payments have grown relative to overall price increases; that said, the use of the Consumer Price Index (CPI) does create some challenges given the fact that housing represents a major chunk of consumer goods bundle used to calculate CPI. This reflects a methodological tradeoff between precision and accuracy and is a common concern when working with any commodity that is a major component of CPI itself.