Data driven decisions
Our current data driven society is transforming the way decisions are made and, consequently, how people interact with the world. We took a deep look into data surrounding housing industry to guide our design decisions. Here is what we found:
-National average cost of a home
2018 NEW home $379,317
2018 USED home $296,492
-Average home size
1950: 983 sq.ft.
1973: 1.660 sq.ft.
2015: 2,687 sq.ft.
-People living in a single family home
-Average college grad student loans
-Average personal debt (excluding home mortgages)
1950: less than $2,000
-Portion of income spent on rent by age 30 (adjusted for inflation)
Baby boomers 36%
Gen X 41%
-The U.S. Census Bureau recently reported home ownership is at a 51-year low of 62.9%
-On average, 8,000 lbs of waste is created in the construction of a 2,000 sq.ft. home
Increased home sizes, decrease in family size, increase in personal debt. What does this mean to us? The housing industry is in need of a correction. This is what led us to design for 1000 sq.ft, 2-3 bedrooms and 2 bathrooms with an eye to minimize onsite construction and waste.
Plain and simple, the numbers make sense.