Rather, the homeownership rate measures the percentage of all occupied housing owned by the occupants, as opposed to occupied by renters.
By 2022, the US homeownership rate was 65.8%, up from 64.6% in 2019.
Homeownership rates dipped as low as 63.4% following the foreclosure crisis that began in 2004 and the Great Recession that began in 2008.
Homeownership rates have recovered just half of the 5.6% drop in homeownership between 2004 and 2016.
Between 2016 and 2019, the homeownership rate increased for buyers under 55, according to the Census Bureau.
Persons:
Yue, Chris Parsons, —, ”, Yue Parsons, — Parsons, Parsons, We’re, Jessica Lautz
Organizations:
Washington CNN, Census, National Association of Realtors, NAR
Locations:
New York City, Manhattan, United States, homebuying, San Francisco, New York, Austin , Texas, Miami, Phoenix, homeownership