Vincent Reina and Claudia Aiken, with research assistance from Jane Christen and Jason Schunkewitz, prepared a comprehensive housing study for the Pennsylvania Housing Finance Agency (PHFA). The study provides a rigorous, data-driven overview of the demographic trends shaping housing supply, demand, cost, and affordability across the Commonwealth and projections for housing needs over the coming decade. It compares trends in urban and rural areas and takes a deep dive into special topics affecting housing markets across the state, including veterans, disability, transportation, flooding, and migration. Finally, the report provides a profile of key housing metrics for each of Pennsylvania’s 67 counties. The report will inform PHFA policy and programmatic decisions and serve as a resource to policymakers and practitioners across the state.