The homeownership rate in the United States declined slightly in 2023 and remained stable in 2024. The U.S. homeownership rate was the highest in 2004 before the 2007-2009 recession hit and decimated the housing market. In 2024, the proportion of households occupied by owners stood at **** percent in 2024, *** percentage points below 2004 levels. 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. Despite 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.

Graph and download economic data for Homeownership Rate in the United States (RSAHORUSQ156S) from Q1 1980 to Q1 2025 about housing, rate, and USA.

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 ** percent of individuals aged 70 to 75 resided in a residence they owned, compared to approximately **** percent among individuals under the age of 25. On average, **** percent of Americans lived in an owner-occupied home. The homeownership rate was the highest in 2004 but has since declined.

Graph and download economic data for Homeownership Rate for the United States (USHOWN) from 1984 to 2024 about homeownership, housing, rate, and USA.

Home Ownership Rate in the United States decreased to 65.10 percent in the first quarter of 2025 from 65.70 percent in the fourth quarter of 2024. This dataset provides the latest reported value for - United States Home Ownership Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

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.

Graph and download economic data for Homeownership Rates by Race and Ethnicity: Black Alone in the United States (BOAAAHORUSQ156N) from Q1 1994 to Q1 2025 about homeownership, African-American, rate, and USA.

The homeownership rate in the United States amounted to nearly ** 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 ** percent homeownership rate.

Graph and download economic data for Consumer Unit Characteristics: Percent Homeowner with Mortgage by Age: from Age 25 to 34 (CXU980230LB0403M) from 1984 to 2023 about consumer unit, age, homeownership, 25 years +, mortgage, percent, and USA.

Following a period of stagnation over most of the 2010s, the number of owner occupied housing units in the United States started to grow in 2017. In 2023, there were over 86 million owner-occupied homes. Owner-occupied housing is where the person who owns a property – either outright or through a mortgage – also resides in the property. Excluded are therefore rental properties, employer-provided housing and social housing. Homeownership sentiment in the U.S. Though homeownership is still a cornerstone of the American dream, an increasing share of people see themselves as lifelong renters. Millennials have been notoriously late to enter the housing market, with one in four reporting that they would probably continue to always rent in the future, a 2022 survey found. In 2017, just five years before that, this share stood at about 13 percent. How many renter households are there? Renter households are roughly half as few as owner-occupied households in the U.S. In 2023, the number of renter occupied housing units amounted to almost 45 million. Climbing on the property ladder for renters is not always easy, as it requires prospective homebuyers to save up for a down payment and qualify for a mortgage. In many metros, the median household income is insufficient to qualify for the median-priced home.

According to a November 2024 survey, the high cost of living is the leading reason preventing U.S. homeowners from pursuing homeownership. Other factors standing in the way of becoming a homeowner included having sufficient savings for a down payment (** percent) and enough income (** percent). In 2024, the homeownership rate in the U.S. was nearly ** percent.

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.

Just a small share of renters in the United States were homeowner ready in 2022. In El Paso, TX, the percentage of renters who could afford to buy a home with a seven percent mortgage was the highest at about ** percent. Homeownership in Urban Honolulu, HI, San Diego, CA, and Los Angeles, CA, was most out of reach, with less than **** percent who could afford to buy a home.

Graph and download economic data for Homeownership Rates by Race and Ethnicity: Hispanic (of Any Race) in the United States (HOLHORUSQ156N) from Q1 1994 to Q1 2025 about homeownership, latino, hispanic, rate, and USA.

The homeownership rate is the proportion of households that is owner-occupied.

Includes people who reported Asian, Native Hawaiian or Other Pacific Islander, or American Indian or Alaska Native regardless of whether they reported any other race, as well as all other combinations of two or more races.

The homeownership rate is the proportion of households that is owner-occupied.

The average homeownership rate in the United States remained mostly unchanged in 2023. Homeownership improved the most among the Asian population, increasing by 1.3 percentage points, while among American Indian or Alaskan Native, it declined by 1.8 percentage points. Overall, the share of white homeowners was higher than any other race.

This statistic shows the homeownership rate in the United States between 2001 to 2009 and 2010 to 2017, by income. Between the second period, the homeownership rate of respondents who earn more than 150,000 U.S. dollars was 84 percent, which was a seven percent decrease from the first period.

Graph and download economic data for Consumer Unit Characteristics: Percent Homeowner without Mortgage by Age: from Age 35 to 44 (CXU980240LB0404M) from 1984 to 2023 about consumer unit, age, homeownership, mortgage, percent, and USA.

This statistic shows the Generation Z homeownership rate in the United States in 2016 and 2025, by ethnicity. In 2016, almost 13 percent of Hispanic Americans between 15 and 24 years were homeowners, but this is set to rise to 28.5 percent by 2025 when they will be 25 to 34 years.