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Housing Trends Analysis Project

Overview

This project aims to explore and analyze housing trends in the United States by utilizing data from various sources, including the Internal Revenue Service (IRS), Zillow, and Freddie Mac. By examining key indicators such as adjusted gross income (AGI) percentile data, housing market statistics, and mortgage rates, we aim to provide valuable insights into the state of the housing market.

Included in the repo is a presentation made on housing trends and their relationship to supply and demand dynamics. For a detailed analysis of the relationship between income and housing in Austin, TX, check out my Medium blog "A Vulgar Display of (purchasing) Power".

Data Sources

  • IRS AGI Percentile Data: This dataset provides information on income distribution across different states, helping us understand the financial landscape of potential homebuyers.

  • Zillow Housing Market Data: Zillow's extensive dataset contains information about housing prices, rental rates, and various housing market metrics. It enables us to analyze trends in property values and rental markets.

  • Freddie Mac Primary Mortgage Market Survey (PMMS): The PMMS dataset offers insights into mortgage rates, providing valuable information about the cost of borrowing for potential homeowners.

Tools and Libraries

To conduct this analysis, we used the following Python libraries and dependencies:

  • pandas: for data manipulation and analysis.
  • pathlib: to handle file paths and data file locations.
  • matplotlib: for creating visualizations and charts.
  • numpy: for numerical calculations and operations.

Analysis

In this project, we explored several aspects of the housing market, including:

  1. Income Distribution vs. Housing Market: We analyzed IRS AGI percentile data to understand how income distribution in different states correlates with the state of the housing market. This allowed us to identify potential relationships between income levels and home purchasing trends.

  2. Housing Market Metrics: Using Zillow's housing market data, we examined trends in property prices, rental rates, and other housing market indicators. This helped us identify regions with the most significant changes in housing values.

  3. Mortgage Rates Impact: We investigated how fluctuations in mortgage rates, as provided by Freddie Mac's PMMS data, influence the housing market. This analysis helped us assess the impact of borrowing costs on homebuyer behavior.

Results

Our analysis uncovered several key findings, which are detailed in a Medium post titled "A Vulgar Display of (purchasing) Power". In this post, we present our insights and visualizations, making the data-driven analysis accessible to a broader audience.