There are two measures in this chart - the total number of housing units and the overall occupancy rate. Multiply the total housing units by occupancy rate to get the total number of households. Tracking the number of housing units provides data on the housing supply, while occupancy rates provide further information as to whether the supply is being fully utilized by the population. Changes in either measure can influence housing and rental prices, impacting the quality of place.
The region gained 19,270 housing units between 2022 and 2023, for a growth rate of 0.9%. The occupancy rate is at its highest level from the last decade at 92%. Since 2019, occupancy rates have risen from 90% to 92%.