Predictions of Residents’ Social and Economic Satisfaction Gaps in Their Own Homes

Social and economic satisfaction gaps are theoretical differences between a resident’s socially or monetarily most preferred affordable home attributes and the actual attributes of their current home. In this study, the satisfaction gaps of two samples of respondents are predicted with their social utility data for preferred attributes in 1987 and 2020, in conjunction with the asking or sale prices and comparable attributes of single detached or similar homes merged with small-area census data for periods up to those dates. Average social and economic gaps of less than 20% affirm respondents’ overall satisfaction with their current homes, most of whom were recent movers. However, wider social satisfaction gaps among the minority of residents may reflect dissatisfaction with new suburban locations in one sample and older inner city housing in the other. Four practical and theoretical contributions of the utility modelling of residential satisfaction gaps in objective and subjective home attributes, as opposed to direct surveying of residential satisfaction, are concluded.