Graph and download economic data for Homeownership Rate in the United States (RSAHORUSQ156S) from Q1 1980 to Q4 2024 about housing, rate, and USA.

The Midwest was the U.S. region with the highest homeownership rate in the United States in 2023. Approximately 70 percent of all homes were owned by their occupants in that year, which was about four percent higher than the national average. At the other end of the scale was the West region, where less than 62 percent of people owned their home. Overall, the homeownership rate in the U.S. has declined since 2003.

The homeownership rate in the United States rose slightly in 2022, reaching the highest figure since 2011. However, in the third quarter of 2024, the proportion of households occupied by owners declined to 65.6 percent. The U.S. homeownership rate was the highest in 2004 before the 2007-2009 recession hit and decimated the housing market. Homeownership since the recession The rate of homeownership in the U.S. fell in the lead up to the recession and continued to do so until 2016. In spite of this trend, the share of Americans who perceived homeownership as part of their personal American dream remained relatively stable. This suggests that the financial hardship caused by the recession led to the fall in homeownership, rather than a change in opinion about the importance of homeownership itself. What the future holds for homeownership Homeownership trends vary from generation to generation. Homeownership among Americans over 65 years old is declining, whereas most Millennial renters plan to buy a home in the near future. This suggests that homeownership will remain important in the future, as Millennials are forecast to head most households over the next two decades.

In 2018, 54 percent of African Americans living in Mississippi owned their home, which was the state with the highest Black homeownership rate. Mississippi also had the highest White homeownership rate, but it was considerably higher at 78 percent. The homeownership rate among African Americans in Montana and North Dakota was only eight percent.

United States Homeownership Rate: Annual data was reported at 63.900 % in 2017. This records an increase from the previous number of 63.400 % for 2016. United States Homeownership Rate: Annual data is updated yearly, averaging 64.700 % from Dec 1965 (Median) to 2017, with 53 observations. The data reached an all-time high of 69.000 % in 2004 and a record low of 63.000 % in 1965. United States Homeownership Rate: Annual data remains active status in CEIC and is reported by US Census Bureau. The data is categorized under Global Database’s USA – Table US.EB008: Housing Vacancy and Home Ownership Rate.

Graph and download economic data for Homeownership Rates by Race and Ethnicity: Non-Hispanic White Alone in the United States (NHWAHORUSQ156N) from Q1 1994 to Q4 2024 about homeownership, white, non-hispanic, rate, and USA.

In 2023, the rate of homeownership among White people living in the United States was 74.3 percent. Comparatively, 45.7 percent of Black people owned a home in the same year.

The homeownership among White people in the United States was 74 percent, the highest out of all ethnicities, in 2022. American Dream Part of the “American Dream” is the idea of owning a home. It is seen as a status symbol and an indicator of wealth. People take a lot of pride in owning a home, and hope to do so at the earliest age possible. It is the idea of having a white picket fence with a nuclear family, a dog, and a car or two which is seen as the stereotypical “end goal”. However, in the aftermath of the 2008 recession, the rate of homeownership in the United States fell steadily until 2016. The recession hindered people’s chances of owning a home, due to less credit being available and their own fears about being stuck with a home in negative equity if another recession were to occur. As a result, the homeownership rate in the United States has barely increased in the past few years. Factors affecting homeownership Homeownership varies based on different factors. Married-couple families have the highest homeownership rates among different family statuses. Unsurprisingly, households with high incomes have the highest homeownership rates.

Graph and download economic data for Homeownership Rate for Washington (WAHOWN) from 1984 to 2024 about homeownership, WA, housing, rate, and USA.

United States Homeownership Rate: Less than 25 Years data was reported at 22.600 % in 2017. This records an increase from the previous number of 21.900 % for 2016. United States Homeownership Rate: Less than 25 Years data is updated yearly, averaging 20.800 % from Dec 1982 (Median) to 2017, with 36 observations. The data reached an all-time high of 25.700 % in 2005 and a record low of 14.800 % in 1993. United States Homeownership Rate: Less than 25 Years data remains active status in CEIC and is reported by US Census Bureau. The data is categorized under Global Database’s USA – Table US.EB008: Housing Vacancy and Home Ownership Rate.

United States Home Ownership Rate: Northeast data was reported at 61.500 % in Sep 2018. This records an increase from the previous number of 61.300 % for Jun 2018. United States Home Ownership Rate: Northeast data is updated quarterly, averaging 61.500 % from Mar 1964 (Median) to Sep 2018, with 219 observations. The data reached an all-time high of 65.500 % in Sep 2006 and a record low of 57.000 % in Sep 1964. United States Home Ownership Rate: Northeast data remains active status in CEIC and is reported by US Census Bureau. The data is categorized under Global Database’s United States – Table US.EB008: Housing Vacancy and Home Ownership Rate.

The homeownership rate in the United States amounted to nearly 66 percent in the third quarter of 2024. While there are many factors that affect people’s decision to buy a house, the recent decrease can be attributed to the higher mortgage interest rates, which make taking out a mortgage less affordable for potential buyers, especially considering the surge in house prices in recent years. Which factors affect homeownership? Age and ethnicity have a strong correlation with homeownership. Baby boomers, for example, are twice as likely to own their home than Millennials. Also, the homeownership rate among white Americans is substantially higher than among any other ethnicity. How does the U.S. homeownership rate compare with other countries? Having a home is an integral part of the “American Dream”. Compared with selected European countries, the U.S. ranks alongside the United Kingdom, Cyprus, and Ireland. Many countries in Europe, however, exceed 80 percent homeownership rate.

In 2018, 78 percent of White Americans living in Mississippi owned their home. Meanwhile, only 54 percent of Black Americans were homeowners in the same state. The District of Columbia was the state with the lowest homeownership rate among Caucasians at 49 percent.

Graph and download economic data for Homeownership Rate for New York (NYHOWN) from 1984 to 2024 about homeownership, NY, housing, rate, and USA.

United States Homeownership Rate: 75 Years and Over data was reported at 76.800 % in 2017. This records a decrease from the previous number of 77.000 % for 2016. United States Homeownership Rate: 75 Years and Over data is updated yearly, averaging 76.900 % from Dec 1982 (Median) to 2017, with 36 observations. The data reached an all-time high of 80.000 % in 2013 and a record low of 69.800 % in 1985. United States Homeownership Rate: 75 Years and Over data remains active status in CEIC and is reported by US Census Bureau. The data is categorized under Global Database’s USA – Table US.EB008: Housing Vacancy and Home Ownership Rate.

In 2018, 68 percent of Asian Americans living in Hawaii owned their home. Meanwhile, the homeownership rate for this group was only 28 and 21 percent in South and North Dakota, respectively.

In 2018, 65 percent of Hispanic or Latino Americans living in Wyoming owned their home. However, their homeownership rate in New York was only 26 percent.

Homeownership Rate in the United States was 65.70% in October of 2024, according to the United States Federal Reserve. Historically, Homeownership Rate in the United States reached a record high of 69.40 in April of 2004 and a record low of 63.10 in April of 2016. Trading Economics provides the current actual value, an historical data chart and related indicators for Homeownership Rate in the United States - last updated from the United States Federal Reserve on March of 2025.

United States Homeownership Rate: 35 to 44 Years data was reported at 59.000 % in 2017. This records an increase from the previous number of 58.600 % for 2016. United States Homeownership Rate: 35 to 44 Years data is updated yearly, averaging 66.750 % from Dec 1982 (Median) to 2017, with 36 observations. The data reached an all-time high of 70.000 % in 1982 and a record low of 58.500 % in 2015. United States Homeownership Rate: 35 to 44 Years data remains active status in CEIC and is reported by US Census Bureau. The data is categorized under Global Database’s United States – Table US.EB008: Housing Vacancy and Home Ownership Rate.

The homeownership rate was the highest among Americans in their early 70s and the lowest among people in their early 20s in 2023. In that year, approximately 81 percent of individuals aged 70 to 75 resided in a residence they owned, compared to approximately 23.6 percent among individuals under the age of 25. On average, 65.9 percent of Americans lived in an owner-occupied home. The homeownership rate was the highest in 2004 but has since declined.