Construction of new housing in the West Midlands fell short by around 45,000 homes during the past five years, according to the National House Federation.
A new report published by the campaign body for housing associations also says that in Birmingham alone the five-year deficit of homes needed stands at 18,000.
Last year, fewer than 12,500 homes were built in the region which the body says is far below what is required to accommodate the 19,000 new households formed each year.
Birmingham City Council has previously stated that around 80,000 new homes are needed to accommodate a population growth of an estimated 150,000 extra people living here by 2031.
The council has attracted controversy in recent months by earmarking formerly greenbelt land in Sutton Coldfield for new housing development.
The new report, called 'Home Truths 2016/17', provides local data on the housing market across the wider West Midlands region.
Unsurprisingly, it also reveals that many people are priced out of home ownership here.
While the average salary in the West Midlands is below the national average of £25,000, only those earning upwards of £45,000 a year can now afford the typical mortgage, the report claims.
The average home costs around £197,600, almost eight times the local typical salary, rising to nearly 11 times in areas such as the Malvern Hills and Wychavon.
The cost of renting privately now stands at an average of £607 per month but can reach much higher figures in areas such as central Birmingham.
Home Truths 2016/17 also reveals the most and least expensive places to buy a home in the region.
Stratford-upon-Avon comes out most expensive, with a mean house price of £329,925, followed by Warwick with £306,902 and Solihull with £286,723.
The cheapest area, according to the new report, is Stoke-on-Trent, where the mean house price is £112,476, followed by Sandwell with £134,267 and Wolverhampton with £147,359.
Housing associations built more than 40,000 homes across the country in 2015/16, 29 per cent of all new homes in England.
Kate Warburton, external affairs manager for the National Housing Federation in the West Midlands, said: "Every new statistical release paints a bleaker picture of the current state of the housing market.
"The reasons for the situation we are in are varied and complex but one thing is clear - we simply haven't built enough homes as a nation.
"And this year's Home Truths findings for the West Midlands are a stark reminder of this. Housing associations are a vital part of the solution to the housing crisis.
"The sector is buoyed by the additional funding and flexibility secured in the Autumn Statement and is ambitious about delivering even more houses."
