The homeownership rate was the highest among Americans in their early 70s and the lowest among people in their early 20s in 2024. In that year, approximately **** percent of individuals aged 70 to 74 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.

About ** percent of younger millennials (ages 26 to 34) bought a house in the United States in 2024 because they desired to have their own home, compared to ** percent of the older millennials. For the older generations, like the older boomers (ages 70 to 78) and the silent generation (ages 79 to 99), the main reason for purchasing homes in 2024 was to move closer to family, friends, and relatives.

About 36 percent of homeowners in England were aged 65 and above, which contrasts sharply with younger age groups, particularly those under 35. Young adults between 25 and 35, made up 15 percent of homeowners and had a dramatically lower homeownership rate. The disparity highlights the growing challenges faced by younger generations in entering the property market, a trend that has significant implications for wealth distribution and social mobility. Barriers to homeownership for young adults The path to homeownership has become increasingly difficult for young adults in the UK. A 2023 survey revealed that mortgage affordability was the greatest obstacle to property purchase. This represents a 39 percent increase from 2021, reflecting the impact of rising house prices and mortgage rates. Despite these challenges, one in three young adults still aspire to get on the property ladder as soon as possible, though many have put their plans on hold. The need for additional financial support from family, friends, and lenders has become more prevalent, with one in five young adults acknowledging this necessity. Regional disparities and housing supply The housing market in England faces regional challenges, with North West England and the West Midlands experiencing the largest mismatch between housing supply and demand in 2023. This imbalance is evident in the discrepancy between new homes added to the housing stock and the number of new households formed. London, despite showing signs of housing shortage, has seen the largest difference between homes built and households formed. The construction of new homes has been volatile, with a significant drop in 2020, a rebound in 2021 and a gradual decline until 2024.

The distribution of all owner-occupier households in England in 2024 varied per age group, as well as the type of home financing. The older the age group, the larger the share of owner-occupier homeowners who purchased their home outright. A share of 2.1 percent of own outright homeowners were between the ages of 25 to 34, whereas a share of 62.1 percent of own outright homeowners were aged 65 and over. Although this is the case, the largest share of homeowners who purchased their house with a mortgage was in the age range of 35 to 44 years old.

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.

Percentage of Early Millennial buyers using conventional, FHA, VA, and USDA mortgages.

Percentage of Late Millennial buyers using conventional, FHA, VA, and USDA mortgages.

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 2024, there were over 86.9 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 2024, the number of renter-occupied housing units amounted to over 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.

Percentage of Gen Z buyers using conventional, FHA, VA, and USDA mortgages.

In 2021, ** percent of millennials or Generation Ys in Thailand owned a house while ** percent of them did not. Owning a house has been one of the leading things millennials in Thailand aspire to have in their life.

Tiny House Market Outlook

According to our latest research, the tiny house market size reached USD 6.1 billion globally in 2024, demonstrating steady growth fueled by shifting consumer preferences and housing affordability challenges. The market is expected to expand at a robust CAGR of 6.9% from 2025 to 2033, reaching a forecasted value of approximately USD 11.5 billion by 2033. The primary growth driver is the increasing demand for affordable, sustainable, and flexible living solutions, especially among younger demographics and environmentally conscious consumers.

The growth trajectory of the tiny house market is significantly influenced by the rising cost of traditional housing and urbanization trends. As metropolitan areas become denser and real estate prices soar, consumers are increasingly seeking alternative housing options that offer both affordability and flexibility. Tiny houses, with their compact footprints and lower construction and maintenance costs, provide a compelling solution for individuals and families looking to achieve homeownership without the financial burden of conventional homes. Additionally, the rising interest in minimalist lifestyles and the desire to reduce personal carbon footprints have made tiny homes an attractive choice for those prioritizing sustainability.

Another key factor propelling the tiny house market is the increasing prevalence of remote work and digital nomadism. The shift towards flexible work arrangements, accelerated by global events such as the COVID-19 pandemic, has prompted many individuals to reconsider their housing needs. Tiny homes, especially mobile variants, enable a lifestyle that is not tied to a single location, allowing owners to travel or relocate as needed. This flexibility aligns well with the preferences of millennials and Gen Z consumers, who value experiences over material possessions and are more likely to embrace non-traditional living arrangements. Furthermore, advancements in off-grid technologies, such as solar panels and composting toilets, have enhanced the viability of tiny homes in remote or rural areas.

Government initiatives and regulatory reforms are also playing a pivotal role in shaping the tiny house market. In several regions, local authorities are amending zoning laws and building codes to accommodate tiny house developments, recognizing their potential to address affordable housing shortages and promote sustainable urban growth. These regulatory changes are encouraging both individual buyers and developers to invest in tiny house communities, further expanding the market. However, challenges remain in areas where regulations are less favorable, highlighting the importance of continued advocacy and policy innovation to unlock the full potential of the tiny house movement.

From a regional perspective, North America continues to dominate the tiny house market, accounting for the largest share in 2024, followed by Europe and Asia Pacific. The popularity of tiny homes in the United States and Canada can be attributed to high housing costs, a strong DIY culture, and widespread media coverage. In Europe, growing environmental awareness and government incentives for sustainable housing are driving adoption, while in Asia Pacific, rapid urbanization and the need for space-efficient solutions are fueling market growth. Emerging markets in Latin America and the Middle East & Africa are also beginning to show interest, particularly in the context of affordable housing initiatives and tourism-related applications.

Product Type Analysis

The tiny house market is segmented by product type into mobile tiny houses and stationary tiny houses, each catering to distinct consumer preferences and lifestyle needs. Mobile tiny houses, often built on trailers, offer unparalleled flexibility and mobility, making them especially popular among digital nomads, retirees, and adventure seekers. Their ability to be relocated with ease appeals to those who value freedom of movement and the opportunity to

DIY Home Improvement Market size was valued at USD 857.39 Billion in 2024 and is projected to reach USD 1192.78 Billion by 2031, growing at a CAGR of 4.21% from 2024 to 2031.Global DIY Home Improvement Market DriversThe market drivers for the Diy Home Improvement Market can be influenced by various factors. These may include:Growing Homeownership Rates: The demand for do-it-yourself home repair projects is being driven by rising homeownership rates, especially among younger generations and millennials. To add personality to their homes and raise the value of their properties, homeowners are more likely to do do-it-yourself modifications, repairs, and renovations.Desire for Cost Savings: Compared to engaging professional contractors, DIY home remodeling projects can save costs. DIYers frequently decide to forego hiring labor services in favor of saving money on supplies by buying and installing everything themselves.Availability of Online Tutorials and Resources: With the growth of DIY tutorials, instructional videos, and online resources, customers have easy access to important advice and ideas for home renovation tasks. Social media channels, DIY blogs, and YouTube give homeowners the freedom to take on projects on their own and learn new skills.Convenience and Flexibility: Do-it-yourself home remodeling gives homeowners the freedom to work when and how they want, making it convenient and flexible. For those who are busy, do-it-yourself tasks are a desirable alternative because they may be completed on the weekends or in the evenings without depending on contractors' availability.Empowerment and Creative Expression: Homeowners can take pleasure in their achievements, personalize their living environments, and express their creativity through do-it-yourself home remodeling projects. Doing work around the house gives one a sense of accomplishment and empowerment and strengthens their bond with their surroundings and house.Sustainability & Environmental Awareness: The need for eco-friendly do-it-yourself home renovation projects is being driven by growing concerns about environmental sustainability. Reusing, upcycling, and sustainable materials are popular choices among do-it-yourselfers who want to cut down on waste and their projects' environmental effect.Renovation at Home TV Series and Media Influence: Popular home improvement TV series, periodicals, and internet resources provide homeowners with innovative concepts and styles that pique their interest in do-it-yourself projects. Media coverage of interior design and renovation shapes consumer tastes and promotes do-it-yourself projects.Trend Towards Home Comfort and Wellness: The COVID-19 pandemic has sped up the trend toward home comfort and wellness, encouraging homeowners to make do-it-yourself renovations to improve their living spaces. Home organization, comfort enhancements, and indoor/outdoor living areas are DIY projects that fit with changing lifestyle requirements.DIY-friendly Product Innovation: Pre-assembled kits, simple-to-install fixtures, and streamlined instructions are just a few examples of the user-friendly, DIY-friendly products that manufacturers and retailers are increasingly offering to appeal to the do-it-yourself market. For customers with different skill levels, these goods increase the accessibility and attainable nature of DIY projects.

Furniture Rent-to-Own Platform Market Outlook

According to our latest research, the global Furniture Rent-to-Own Platform market size reached USD 6.8 billion in 2024, reflecting robust demand across both developed and emerging economies. The market is projected to expand at a CAGR of 7.9% from 2025 to 2033, reaching an estimated USD 13.7 billion by 2033. This impressive growth trajectory is primarily fueled by shifting consumer preferences toward flexible ownership models, increasing urbanization, and a growing millennial workforce seeking cost-effective and hassle-free furnishing solutions.

One of the most significant growth factors propelling the Furniture Rent-to-Own Platform market is the increasing preference for asset-light lifestyles among urban consumers, particularly millennials and Gen Z. As homeownership rates decline and mobility increases, consumers are seeking alternatives to traditional furniture purchasing. Rent-to-own platforms offer a flexible, affordable, and convenient solution, allowing users to access high-quality furniture without the burden of large upfront costs or long-term commitments. Furthermore, the rise of remote work and frequent relocations has made temporary furniture solutions more attractive, further driving demand for these platforms. The integration of digital technologies, such as AI-driven personalization and seamless online interfaces, has also enhanced the customer experience, making furniture rental more accessible and appealing.

Another key driver is the burgeoning commercial sector’s adoption of furniture rent-to-own solutions. Startups, small businesses, and even large enterprises are increasingly leveraging these platforms to furnish offices, coworking spaces, and pop-up stores without significant capital expenditure. This trend is especially pronounced in metropolitan cities where real estate and operational costs are high. The rent-to-own model provides businesses with the agility to scale up or down based on their requirements, thus optimizing costs and minimizing waste. Additionally, the growing emphasis on sustainability and circular economy principles is encouraging both consumers and businesses to opt for rental solutions, as they promote reuse and reduce environmental impact.

The expansion of e-commerce and digital payment infrastructure has also played a pivotal role in the growth of the Furniture Rent-to-Own Platform market. Online platforms have democratized access to a wide variety of furniture options, enabling customers to browse, compare, and select products from the comfort of their homes. The proliferation of mobile applications and the integration of advanced logistics solutions have made the rental process seamless and efficient. This digital transformation has not only improved customer acquisition and retention for platform providers but has also facilitated the entry of new players, intensifying competition and fostering innovation within the industry.

From a regional perspective, North America currently dominates the market, accounting for the largest share in 2024, followed by Europe and Asia Pacific. The United States, in particular, has witnessed widespread adoption of rent-to-own platforms, driven by high urbanization rates, a large student population, and a dynamic housing market. However, the Asia Pacific region is expected to exhibit the fastest growth over the forecast period, supported by rapid urbanization, rising disposable incomes, and a burgeoning middle class. Emerging markets in Latin America and the Middle East & Africa are also showing promising potential, as digital adoption and awareness of rental models continue to rise.

Product Type Analysis

The Furniture Rent-to-Own Platform market is segmented by product type into Home Furniture, Office Furniture, Outdoor Furniture, and Others. Home furniture constitutes the largest segment, driven by the growing trend of renting sofas, beds, dining sets, and wardrobes among urban dwellers, students, and young professionals. The flexibility to frequently update home aesthetics without significant financial commitment has made rent-to-own platforms particularly attractive in this segment. Providers are increasingly offering customizable packages and subscription models that cater to varied lifestyle needs, further enhancing the appeal of home furniture rentals. The integration of smart and modular furniture options is also gaining traction, as consumers seek solutions that align with modern livi

The Residential Mortgage Service market is projected to reach a value of XXX million by 2033, expanding at a CAGR of XX% during the forecast period. This growth is attributed to increasing disposable income, urbanization, and the growing number of first-time homebuyers. Additionally, government initiatives and favorable interest rates have further fueled market expansion. Key market drivers include the rising demand for affordable housing, technological advancements in mortgage processing, and the expansion of the real estate sector. The market is segmented based on application, type, and region. The first-time buyer segment is expected to witness significant growth due to the increasing number of millennials entering the housing market. The purchase segment dominates the type category, driven by the rising demand for new homes. In terms of region, North America is anticipated to hold the largest market share owing to the presence of a large and well-established mortgage industry. Asia Pacific is projected to exhibit the highest growth rate during the forecast period due to the increasing urbanization and growing middle class. Major market players include Accenture, Residential Mortgage Services, Bigelow LLC., Cummings Mortgage Service, and East Shore Mortgage Services.

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.

The United States home services market was valued at USD 90.63 Billion in 2024. The market is expected to grow at a CAGR of 7.20% during the forecast period of 2025-2034 to reach a value of USD 181.64 Billion by 2034. Expanding smart home adoption accelerates demand for integrated service solutions across plumbing, repair, and maintenance, as homeowners increasingly prioritize digital convenience alongside energy-efficient and automated living environments.

The market is also being led by the rapid rise of digital platforms that simplify access to household solutions. A significant driving factor is the growing adoption of on-demand apps for cleaning, repair, and maintenance. According to the United States home services market analysis, housing accounted for the largest share of total expenditures (32.9%) in 2023, underlining a strong and consistent demand base. This trend is reinforced by the considerable year-over-year increase in home cleaning and handyman bookings through platforms like Thumbtack and Angi in 2024.

In addition, government-backed incentives for energy-efficient housing have expanded the scope of services, especially in plumbing, HVAC, and insulation. The United States Department of Energy reports that federal rebates under the Inflation Reduction Act catalyzed USD 8.8 billion in home improvement projects in July 2024. Further, local municipalities are allocating grants to promote eco-friendly retrofitting and water-conservation systems, indirectly boosting demand in the United States home services market.

The market’s scale is also amplified by demographic and lifestyle shifts. Millennials and Gen Z prefer subscription-based models for routine tasks, from lawn mowing to pest control. This generational shift toward convenience, supported by technological innovation and regulatory support, is positioning the home services sector as a resilient and expanding vertical in the United States economy.

In 2022, San Jose, CA, was the hottest market for millennial homebuyers in the United States. Millennials in San Jose were responsible for nearly ** percent of the house purchase requests. Denver, CO, and Boston, MA, completed the top three with over ** percent of purchase requests. Which are the states with the youngest population in the U.S.? It should come as no surprise that the demographic composition plays a central role in the development of the housing market in different states. In 2020, the median age in the United States was 38.2 years, but some states, such as Alaska, District of Columbia, and Utah had much younger population. In contrast, Maine, Puerto Rico, and Hampshire had the highest median age of population. Millennials’ attitudes towards homeownership While many millennials have given up on homeownership, one in ***** people share that they are in the process of saving for a home purchase. These results suggest that young Americans have not entirely given up on the American dream of owning a home of their own.

Container Home Stays Market Outlook

According to our latest research, the Global Container Home Stays market size was valued at $2.3 billion in 2024 and is projected to reach $7.8 billion by 2033, expanding at a robust CAGR of 14.2% during the forecast period of 2025–2033. The primary driver behind this remarkable growth is the increasing global demand for sustainable, affordable, and flexible accommodation solutions, particularly in the tourism and hospitality industry. The unique blend of eco-friendliness, cost-effectiveness, and rapid deployment has positioned container home stays as a preferred choice for travelers, property developers, and hospitality entrepreneurs. This trend is further amplified by the growing consumer inclination towards experiential and minimalist living, which aligns perfectly with the ethos of container-based accommodations.

Regional Outlook

North America currently holds the largest share of the global container home stays market, accounting for approximately 38% of total market revenue in 2024. The region's dominance is attributed to its mature real estate market, advanced construction technologies, and progressive urban planning policies that support alternative housing solutions. The United States, in particular, has witnessed significant adoption in both urban and rural settings, driven by a strong culture of innovation and sustainability. Furthermore, the robust tourism sector and the rise of remote work have spurred demand for unique short-term rental experiences, fueling the proliferation of container home stays across metropolitan areas, national parks, and coastal destinations. Government incentives for green buildings and the presence of prominent container home stay providers have further cemented North America’s leadership in this market.

The Asia Pacific region is expected to be the fastest-growing market, projected to expand at a CAGR of 17.8% through 2033. This growth is underpinned by rapid urbanization, increasing disposable incomes, and a burgeoning middle-class population seeking affordable yet stylish accommodations. Countries such as China, Japan, Australia, and India are experiencing a surge in eco-tourism and alternative lodging options, with container home stays gaining traction among millennials and Gen Z travelers. Strategic investments by both local and international players, coupled with government initiatives promoting sustainable tourism and green construction, are accelerating market expansion. Additionally, the adaptability of container structures to various climates and terrains has made them particularly attractive in disaster-prone or space-constrained regions.

Emerging economies in Latin America and the Middle East & Africa are also witnessing increased interest in container home stays, albeit at a more nascent stage. The adoption in these regions is often challenged by regulatory ambiguities, lack of standardized building codes, and limited awareness among end-users. However, localized demand is growing in areas with high tourism potential, such as Brazil’s coastal regions and South Africa’s game reserves. Policy reforms aimed at promoting affordable housing and sustainable tourism, along with collaborations with international NGOs and development agencies, are gradually overcoming these barriers. As infrastructure improves and consumer awareness rises, these emerging markets are poised to contribute a larger share to the global container home stays market in the coming years.

Report Scope

Owning a home has traditionally been an integral part of the "American dream", but for millennials entering the housing market has been notoriously difficult. Between 2018 and 2022, the share of millennials in the United States who expect to always rent their home increased from **** to **** percent. As the youngest demographic in the housing market, people under 35 years have a homeownership rate much lower than any other generation.

The majority of home buyers in the United States in 2024 across all age groups purchased a home between ***** and ***** square feet in size. ** percent of the young millennials (26 to 34 years old) and ** percent of the silent generation (79 to 99 years old) purchased a home about the same feet in size.