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Vital Signs: Housing Affordability - County Overall
data.bayareametro.gov | Last Updated 2019-10-25T20:43:28.000ZHousing Affordability (EQ2) FULL MEASURE NAME Housing Affordability LAST UPDATED October 2018 DATA SOURCE U.S Census Bureau: Decennial Census Form STF3 – https://nhgis.org (1980-1990) Form SF3a – https://nhgis.org (2000) U.S. Census Bureau: American Community Survey Form B25074 (2009-2017) Form B25095 (2009-2017) http://api.census.gov Image: Flickr (Creative Commons license), Photographer: Frank Kehren, https://www.flickr.com/photos/fkehren/8481894011 CONTACT INFORMATION vitalsigns.info@bayareametro.gov METHODOLOGY NOTES (across all datasets for this indicator) The share of income brackets used for different Census and ACS forms varied over time. To allow for historical comparisons, the Census Bureau merges housing expenditure brackets into three consistent bins (less than 20 percent, 20 percent to 34 percent, and more than 35 percent) that work for all years. The highest income bracket for renters in the ACS data was $100,000 or more, while the homeowner dataset included brackets for $100,000 to $149,999 and $150,000 and above. These brackets were merged together to allow for uniform comparison across tenure. While some studies use 30 percent as the affordability threshold, Vital Signs uses 35 percent as this is the closest break point using the standardized affordability brackets above. Historical data for Napa County is unavailable due to an insufficient sample size for renters in a number of years, making it impossible to calculate affordability for all households. All ACS data is for a single year, rather than a rolling average. Income breakdown data is only provided for one year as it is not possible to compare consistent inflation-adjusted income brackets over time given Census data limitations.
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Vital Signs: Jobs – by subcounty
data.bayareametro.gov | Last Updated 2020-04-13T23:19:44.000ZVITAL SIGNS INDICATOR Jobs (LU2) FULL MEASURE NAME Employment estimates by place of work LAST UPDATED March 2020 DESCRIPTION Jobs refers to the number of employees in a given area by place of work. These estimates do not include self-employed and private household employees. DATA SOURCE California Employment Development Department: Current Employment Statistics 1990-2018 http://www.labormarketinfo.edd.ca.gov/ U.S. Census Bureau: LODES Data Longitudinal Employer-Household Dynamics Program (2005-2010) http://lehd.ces.census.gov/ U.S. Census Bureau: American Community Survey 5-Year Estimates, Tables S0804 (2010) and B08604 (2010-2017) https://factfinder.census.gov/ Bureau of Labor Statistics: Current Employment Statistics Table D-3: Employees on nonfarm payrolls (1990-2018) http://www.bls.gov/data/ METHODOLOGY NOTES (across all datasets for this indicator) The California Employment Development Department (EDD) provides estimates of employment, by place of employment, for California counties. The Bureau of Labor Statistics (BLS) provides estimates of employment for metropolitan areas outside of the Bay Area. Annual employment data are derived from monthly estimates and thus reflect “annual average employment.” Employment estimates outside of the Bay Area do not include farm employment. For the metropolitan area comparison, farm employment was removed from Bay Area employment totals. Both EDD and BLS data report only wage and salary jobs, not the self-employed. For measuring jobs below the county level, Vital Signs assigns collections of incorporated cities and towns to sub-county areas. For example, the cities of East Palo Alto, Menlo Park, Portola Valley, Redwood City and Woodside are considered South San Mateo County. Because Bay Area counties differ in footprint, the number of sub-county city groupings varies from one (San Francisco and San Jose counties) to four (Santa Clara County). Estimates for sub-county areas are the sums of city-level estimates from the U.S. Census Bureau: American Community Survey (ACS) 2010-2017. The following incorporated cities and towns are included in each sub-county area: North Alameda County – Alameda, Albany, Berkeley, Emeryville, Oakland, Piedmont East Alameda County - Dublin, Livermore, Pleasanton South Alameda County - Fremont, Hayward, Newark, San Leandro, Union City Central Contra Costa County - Clayton, Concord, Danville, Lafayette, Martinez, Moraga, Orinda, Pleasant Hill, San Ramon, Walnut Creek East Contra Costa County - Antioch, Brentwood, Oakley, Pittsburg West Contra Costa County - El Cerrito, Hercules, Pinole, Richmond, San Pablo Marin – all incorporated cities and towns Napa – all incorporated cities and towns San Francisco – San Francisco North San Mateo - Brisbane, Colma, Daly City, Millbrae, Pacifica, San Bruno, South San Francisco Central San Mateo - Belmont, Burlingame, Foster City, Half Moon Bay, Hillsborough, San Carlos, San Mateo South San Mateo - East Palo Alto, Menlo Park, Portola Valley, Redwood City, Woodside North Santa Clara - Los Altos, Los Altos Hills, Milpitas, Mountain View, Palo Alto, Santa Clara, Sunnyvale San Jose – San Jose Southwest Santa Clara - Campbell, Cupertino, Los Gatos, Monte Sereno, Saratoga South Santa Clara - Gilroy, Morgan Hill East Solano - Dixon, Fairfield, Rio Vista, Suisun City, Vacaville South Solano - Benicia, Vallejo North Sonoma - Cloverdale, Healdsburg, Windsor South Sonoma - Cotati, Petaluma, Rohnert Park, Santa Rosa, Sebastopol, Sonoma
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Vital Signs: Housing Affordability - County by Income
data.bayareametro.gov | Last Updated 2019-10-25T20:43:10.000ZHousing Affordability (EQ2) FULL MEASURE NAME Housing Affordability LAST UPDATED October 2018 DATA SOURCE U.S Census Bureau: Decennial Census Form STF3 – https://nhgis.org (1980-1990) Form SF3a – https://nhgis.org (2000) U.S. Census Bureau: American Community Survey Form B25074 (2009-2017) Form B25095 (2009-2017) http://api.census.gov Image: Flickr (Creative Commons license), Photographer: Frank Kehren, https://www.flickr.com/photos/fkehren/8481894011 CONTACT INFORMATION vitalsigns.info@bayareametro.gov METHODOLOGY NOTES (across all datasets for this indicator) The share of income brackets used for different Census and ACS forms varied over time. To allow for historical comparisons, the Census Bureau merges housing expenditure brackets into three consistent bins (less than 20 percent, 20 percent to 34 percent, and more than 35 percent) that work for all years. The highest income bracket for renters in the ACS data was $100,000 or more, while the homeowner dataset included brackets for $100,000 to $149,999 and $150,000 and above. These brackets were merged together to allow for uniform comparison across tenure. While some studies use 30 percent as the affordability threshold, Vital Signs uses 35 percent as this is the closest break point using the standardized affordability brackets above. Historical data for Napa County is unavailable due to an insufficient sample size for renters in a number of years, making it impossible to calculate affordability for all households. All ACS data is for a single year, rather than a rolling average. Income breakdown data is only provided for one year as it is not possible to compare consistent inflation-adjusted income brackets over time given Census data limitations.
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Vital Signs: Jobs – Bay Area
data.bayareametro.gov | Last Updated 2020-04-13T23:21:14.000ZVITAL SIGNS INDICATOR Jobs (LU2) FULL MEASURE NAME Employment estimates by place of work LAST UPDATED October 2019 DESCRIPTION Jobs refers to the number of employees in a given area by place of work. These estimates do not include self-employed and private household employees. DATA SOURCE California Employment Development Department: Current Employment Statistics 1990-2018 http://www.labormarketinfo.edd.ca.gov/ U.S. Census Bureau: LODES Data Longitudinal Employer-Household Dynamics Program (2005-2010) http://lehd.ces.census.gov/ U.S. Census Bureau: American Community Survey 5-Year Estimates, Tables S0804 (2010) and B08604 (2010-2017) https://factfinder.census.gov/ Bureau of Labor Statistics: Current Employment Statistics Table D-3: Employees on nonfarm payrolls (1990-2018) http://www.bls.gov/data/ METHODOLOGY NOTES (across all datasets for this indicator) The California Employment Development Department (EDD) provides estimates of employment, by place of employment, for California counties. The Bureau of Labor Statistics (BLS) provides estimates of employment for metropolitan areas outside of the Bay Area. Annual employment data are derived from monthly estimates and thus reflect “annual average employment.” Employment estimates outside of the Bay Area do not include farm employment. For the metropolitan area comparison, farm employment was removed from Bay Area employment totals. Both EDD and BLS data report only wage and salary jobs, not the self-employed. For measuring jobs below the county level, Vital Signs assigns collections of incorporated cities and towns to sub-county areas. For example, the cities of East Palo Alto, Menlo Park, Portola Valley, Redwood City and Woodside are considered South San Mateo County. Because Bay Area counties differ in footprint, the number of sub-county city groupings varies from one (San Francisco and San Jose counties) to four (Santa Clara County). Estimates for sub-county areas are the sums of city-level estimates from the U.S. Census Bureau: American Community Survey (ACS) 2010-2017. The following incorporated cities and towns are included in each sub-county area: North Alameda County – Alameda, Albany, Berkeley, Emeryville, Oakland, Piedmont East Alameda County - Dublin, Livermore, Pleasanton South Alameda County - Fremont, Hayward, Newark, San Leandro, Union City Central Contra Costa County - Clayton, Concord, Danville, Lafayette, Martinez, Moraga, Orinda, Pleasant Hill, San Ramon, Walnut Creek East Contra Costa County - Antioch, Brentwood, Oakley, Pittsburg West Contra Costa County - El Cerrito, Hercules, Pinole, Richmond, San Pablo Marin – all incorporated cities and towns Napa – all incorporated cities and towns San Francisco – San Francisco North San Mateo - Brisbane, Colma, Daly City, Millbrae, Pacifica, San Bruno, South San Francisco Central San Mateo - Belmont, Burlingame, Foster City, Half Moon Bay, Hillsborough, San Carlos, San Mateo South San Mateo - East Palo Alto, Menlo Park, Portola Valley, Redwood City, Woodside North Santa Clara - Los Altos, Los Altos Hills, Milpitas, Mountain View, Palo Alto, Santa Clara, Sunnyvale San Jose – San Jose Southwest Santa Clara - Campbell, Cupertino, Los Gatos, Monte Sereno, Saratoga South Santa Clara - Gilroy, Morgan Hill East Solano - Dixon, Fairfield, Rio Vista, Suisun City, Vacaville South Solano - Benicia, Vallejo North Sonoma - Cloverdale, Healdsburg, Windsor South Sonoma - Cotati, Petaluma, Rohnert Park, Santa Rosa, Sebastopol, Sonoma
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Vital Signs: Home Prices – by county
data.bayareametro.gov | Last Updated 2019-10-25T20:29:56.000ZVITAL SIGNS INDICATOR Home Prices (EC7) FULL MEASURE NAME Home Prices LAST UPDATED August 2019 DESCRIPTION Home prices refer to the cost of purchasing one’s own house or condominium. While a significant share of residents may choose to rent, home prices represent a primary driver of housing affordability in a given region, county or city. DATA SOURCE Zillow Median Sale Price (1997-2018) http://www.zillow.com/research/data/ Bureau of Labor Statistics: Consumer Price Index All Urban Consumers Data Table (1997-2018; specific to each metro area) http://data.bls.gov CONTACT INFORMATION vitalsigns.info@bayareametro.gov METHODOLOGY NOTES (across all datasets for this indicator) Median housing price estimates for the region, counties, cities, and zip code come from analysis of individual home sales by Zillow. The median sale price is the price separating the higher half of the sales from the lower half. In other words, 50 percent of home sales are below or above the median value. Zillow defines all homes as single-family residential, condominium, and co-operative homes with a county record. Single-family residences are detached, which means the home is an individual structure with its own lot. Condominiums are units that you own in a multi-unit complex, such as an apartment building. Co-operative homes are slightly different from condominiums where the homeowners own shares in the corporation that owns the building, not the actual units themselves. For metropolitan area comparison values, the Bay Area metro area’s median home sale price is the population-weighted average of the nine counties’ median home prices. Home sales prices are not reliably available for Houston, because Texas is a non-disclosure state. For more information on non-disclosure states, see: http://www.zillow.com/blog/chronicles-of-data-collection-ii-non-disclosure-states-3783/ Inflation-adjusted data are presented to illustrate how home prices have grown relative to overall price increases; that said, the use of the Consumer Price Index 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.
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Vital Signs: Jobs – by metro
data.bayareametro.gov | Last Updated 2020-04-13T23:20:28.000ZVITAL SIGNS INDICATOR Jobs (LU2) FULL MEASURE NAME Employment estimates by place of work LAST UPDATED October 2019 DESCRIPTION Jobs refers to the number of employees in a given area by place of work. These estimates do not include self-employed and private household employees. DATA SOURCE California Employment Development Department: Current Employment Statistics 1990-2018 http://www.labormarketinfo.edd.ca.gov/ U.S. Census Bureau: LODES Data Longitudinal Employer-Household Dynamics Program (2005-2010) http://lehd.ces.census.gov/ U.S. Census Bureau: American Community Survey 5-Year Estimates, Tables S0804 (2010) and B08604 (2010-2017) https://factfinder.census.gov/ Bureau of Labor Statistics: Current Employment Statistics Table D-3: Employees on nonfarm payrolls (1990-2018) http://www.bls.gov/data/ METHODOLOGY NOTES (across all datasets for this indicator) The California Employment Development Department (EDD) provides estimates of employment, by place of employment, for California counties. The Bureau of Labor Statistics (BLS) provides estimates of employment for metropolitan areas outside of the Bay Area. Annual employment data are derived from monthly estimates and thus reflect “annual average employment.” Employment estimates outside of the Bay Area do not include farm employment. For the metropolitan area comparison, farm employment was removed from Bay Area employment totals. Both EDD and BLS data report only wage and salary jobs, not the self-employed. For measuring jobs below the county level, Vital Signs assigns collections of incorporated cities and towns to sub-county areas. For example, the cities of East Palo Alto, Menlo Park, Portola Valley, Redwood City and Woodside are considered South San Mateo County. Because Bay Area counties differ in footprint, the number of sub-county city groupings varies from one (San Francisco and San Jose counties) to four (Santa Clara County). Estimates for sub-county areas are the sums of city-level estimates from the U.S. Census Bureau: American Community Survey (ACS) 2010-2017. The following incorporated cities and towns are included in each sub-county area: North Alameda County – Alameda, Albany, Berkeley, Emeryville, Oakland, Piedmont East Alameda County - Dublin, Livermore, Pleasanton South Alameda County - Fremont, Hayward, Newark, San Leandro, Union City Central Contra Costa County - Clayton, Concord, Danville, Lafayette, Martinez, Moraga, Orinda, Pleasant Hill, San Ramon, Walnut Creek East Contra Costa County - Antioch, Brentwood, Oakley, Pittsburg West Contra Costa County - El Cerrito, Hercules, Pinole, Richmond, San Pablo Marin – all incorporated cities and towns Napa – all incorporated cities and towns San Francisco – San Francisco North San Mateo - Brisbane, Colma, Daly City, Millbrae, Pacifica, San Bruno, South San Francisco Central San Mateo - Belmont, Burlingame, Foster City, Half Moon Bay, Hillsborough, San Carlos, San Mateo South San Mateo - East Palo Alto, Menlo Park, Portola Valley, Redwood City, Woodside North Santa Clara - Los Altos, Los Altos Hills, Milpitas, Mountain View, Palo Alto, Santa Clara, Sunnyvale San Jose – San Jose Southwest Santa Clara - Campbell, Cupertino, Los Gatos, Monte Sereno, Saratoga South Santa Clara - Gilroy, Morgan Hill East Solano - Dixon, Fairfield, Rio Vista, Suisun City, Vacaville South Solano - Benicia, Vallejo North Sonoma - Cloverdale, Healdsburg, Windsor South Sonoma - Cotati, Petaluma, Rohnert Park, Santa Rosa, Sebastopol, Sonoma
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Vital Signs: Jobs – by county
data.bayareametro.gov | Last Updated 2020-04-13T23:20:49.000ZVITAL SIGNS INDICATOR Jobs (LU2) FULL MEASURE NAME Employment estimates by place of work LAST UPDATED October 2019 DESCRIPTION Jobs refers to the number of employees in a given area by place of work. These estimates do not include self-employed and private household employees. DATA SOURCE California Employment Development Department: Current Employment Statistics 1990-2018 http://www.labormarketinfo.edd.ca.gov/ U.S. Census Bureau: LODES Data Longitudinal Employer-Household Dynamics Program (2005-2010) http://lehd.ces.census.gov/ U.S. Census Bureau: American Community Survey 5-Year Estimates, Tables S0804 (2010) and B08604 (2010-2017) https://factfinder.census.gov/ Bureau of Labor Statistics: Current Employment Statistics Table D-3: Employees on nonfarm payrolls (1990-2018) http://www.bls.gov/data/ METHODOLOGY NOTES (across all datasets for this indicator) The California Employment Development Department (EDD) provides estimates of employment, by place of employment, for California counties. The Bureau of Labor Statistics (BLS) provides estimates of employment for metropolitan areas outside of the Bay Area. Annual employment data are derived from monthly estimates and thus reflect “annual average employment.” Employment estimates outside of the Bay Area do not include farm employment. For the metropolitan area comparison, farm employment was removed from Bay Area employment totals. Both EDD and BLS data report only wage and salary jobs, not the self-employed. For measuring jobs below the county level, Vital Signs assigns collections of incorporated cities and towns to sub-county areas. For example, the cities of East Palo Alto, Menlo Park, Portola Valley, Redwood City and Woodside are considered South San Mateo County. Because Bay Area counties differ in footprint, the number of sub-county city groupings varies from one (San Francisco and San Jose counties) to four (Santa Clara County). Estimates for sub-county areas are the sums of city-level estimates from the U.S. Census Bureau: American Community Survey (ACS) 2010-2017. The following incorporated cities and towns are included in each sub-county area: North Alameda County – Alameda, Albany, Berkeley, Emeryville, Oakland, Piedmont East Alameda County - Dublin, Livermore, Pleasanton South Alameda County - Fremont, Hayward, Newark, San Leandro, Union City Central Contra Costa County - Clayton, Concord, Danville, Lafayette, Martinez, Moraga, Orinda, Pleasant Hill, San Ramon, Walnut Creek East Contra Costa County - Antioch, Brentwood, Oakley, Pittsburg West Contra Costa County - El Cerrito, Hercules, Pinole, Richmond, San Pablo Marin – all incorporated cities and towns Napa – all incorporated cities and towns San Francisco – San Francisco North San Mateo - Brisbane, Colma, Daly City, Millbrae, Pacifica, San Bruno, South San Francisco Central San Mateo - Belmont, Burlingame, Foster City, Half Moon Bay, Hillsborough, San Carlos, San Mateo South San Mateo - East Palo Alto, Menlo Park, Portola Valley, Redwood City, Woodside North Santa Clara - Los Altos, Los Altos Hills, Milpitas, Mountain View, Palo Alto, Santa Clara, Sunnyvale San Jose – San Jose Southwest Santa Clara - Campbell, Cupertino, Los Gatos, Monte Sereno, Saratoga South Santa Clara - Gilroy, Morgan Hill East Solano - Dixon, Fairfield, Rio Vista, Suisun City, Vacaville South Solano - Benicia, Vallejo North Sonoma - Cloverdale, Healdsburg, Windsor South Sonoma - Cotati, Petaluma, Rohnert Park, Santa Rosa, Sebastopol, Sonoma
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Vital Signs: Home Prices – by city
data.bayareametro.gov | Last Updated 2019-10-25T20:29:41.000ZVITAL SIGNS INDICATOR Home Prices (EC7) FULL MEASURE NAME Home Prices LAST UPDATED August 2019 DESCRIPTION Home prices refer to the cost of purchasing one’s own house or condominium. While a significant share of residents may choose to rent, home prices represent a primary driver of housing affordability in a given region, county or city. DATA SOURCE Zillow Median Sale Price (1997-2018) http://www.zillow.com/research/data/ Bureau of Labor Statistics: Consumer Price Index All Urban Consumers Data Table (1997-2018; specific to each metro area) http://data.bls.gov CONTACT INFORMATION vitalsigns.info@bayareametro.gov METHODOLOGY NOTES (across all datasets for this indicator) Median housing price estimates for the region, counties, cities, and zip code come from analysis of individual home sales by Zillow. The median sale price is the price separating the higher half of the sales from the lower half. In other words, 50 percent of home sales are below or above the median value. Zillow defines all homes as single-family residential, condominium, and co-operative homes with a county record. Single-family residences are detached, which means the home is an individual structure with its own lot. Condominiums are units that you own in a multi-unit complex, such as an apartment building. Co-operative homes are slightly different from condominiums where the homeowners own shares in the corporation that owns the building, not the actual units themselves. For metropolitan area comparison values, the Bay Area metro area’s median home sale price is the population-weighted average of the nine counties’ median home prices. Home sales prices are not reliably available for Houston, because Texas is a non-disclosure state. For more information on non-disclosure states, see: http://www.zillow.com/blog/chronicles-of-data-collection-ii-non-disclosure-states-3783/ Inflation-adjusted data are presented to illustrate how home prices have grown relative to overall price increases; that said, the use of the Consumer Price Index 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.
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Vital Signs: Housing Affordability - Bay Area Overall
data.bayareametro.gov | Last Updated 2019-10-25T20:42:56.000ZHousing Affordability (EQ2) FULL MEASURE NAME Housing Affordability LAST UPDATED October 2018 DATA SOURCE U.S Census Bureau: Decennial Census Form STF3 – https://nhgis.org (1980-1990) Form SF3a – https://nhgis.org (2000) U.S. Census Bureau: American Community Survey Form B25074 (2009-2017) Form B25095 (2009-2017) http://api.census.gov Image: Flickr (Creative Commons license), Photographer: Frank Kehren, https://www.flickr.com/photos/fkehren/8481894011 CONTACT INFORMATION vitalsigns.info@bayareametro.gov METHODOLOGY NOTES (across all datasets for this indicator) The share of income brackets used for different Census and ACS forms varied over time. To allow for historical comparisons, the Census Bureau merges housing expenditure brackets into three consistent bins (less than 20 percent, 20 percent to 34 percent, and more than 35 percent) that work for all years. The highest income bracket for renters in the ACS data was $100,000 or more, while the homeowner dataset included brackets for $100,000 to $149,999 and $150,000 and above. These brackets were merged together to allow for uniform comparison across tenure. While some studies use 30 percent as the affordability threshold, Vital Signs uses 35 percent as this is the closest break point using the standardized affordability brackets above. Historical data for Napa County is unavailable due to an insufficient sample size for renters in a number of years, making it impossible to calculate affordability for all households. All ACS data is for a single year, rather than a rolling average. Income breakdown data is only provided for one year as it is not possible to compare consistent inflation-adjusted income brackets over time given Census data limitations.
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Vital Signs: Home Prices – by zip code
data.bayareametro.gov | Last Updated 2019-10-25T20:29:15.000ZVITAL SIGNS INDICATOR Home Prices (EC7) FULL MEASURE NAME Home Prices LAST UPDATED August 2019 DESCRIPTION Home prices refer to the cost of purchasing one’s own house or condominium. While a significant share of residents may choose to rent, home prices represent a primary driver of housing affordability in a given region, county or city. DATA SOURCE Zillow Median Sale Price (1997-2018) http://www.zillow.com/research/data/ Bureau of Labor Statistics: Consumer Price Index All Urban Consumers Data Table (1997-2018; specific to each metro area) http://data.bls.gov CONTACT INFORMATION vitalsigns.info@bayareametro.gov METHODOLOGY NOTES (across all datasets for this indicator) Median housing price estimates for the region, counties, cities, and zip code come from analysis of individual home sales by Zillow. The median sale price is the price separating the higher half of the sales from the lower half. In other words, 50 percent of home sales are below or above the median value. Zillow defines all homes as single-family residential, condominium, and co-operative homes with a county record. Single-family residences are detached, which means the home is an individual structure with its own lot. Condominiums are units that you own in a multi-unit complex, such as an apartment building. Co-operative homes are slightly different from condominiums where the homeowners own shares in the corporation that owns the building, not the actual units themselves. For metropolitan area comparison values, the Bay Area metro area’s median home sale price is the population-weighted average of the nine counties’ median home prices. Home sales prices are not reliably available for Houston, because Texas is a non-disclosure state. For more information on non-disclosure states, see: http://www.zillow.com/blog/chronicles-of-data-collection-ii-non-disclosure-states-3783/ Inflation-adjusted data are presented to illustrate how home prices have grown relative to overall price increases; that said, the use of the Consumer Price Index 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.