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 16,434 housing units between 2023 and 2024, for a growth rate of 0.8%. The occupancy rate ticked downwards to 91.4%; however, the occupancy rate is still greater than its 2019 level of 90.1%. Since 2019, the region has added 43,000 housing units, for a 1.9% growth rate.