Homeownership Rate By Year
The national housing market has been extremely volatile in the last 20 years compared to the latter half of the 20 th century.
- The annual nationwide homeownership rate hit an all-time high in 2004 at 69.2%.
- In 2016, the homeownership rate hit its lowest point (63.4%) since 1965 (63.0%).
- Homeownership declined at an annual rate of 0.7% from 2004 to 2016 (for a total decline of 8.1%).
- Subsequent homeownership rates increased at an annual rate of 1.3% from 2016 to 2020 (for a total increase of 5.0%).
Historical Homeownership: Select Years 1890 – 1975 | Year | Homeownership Rate | % of Current Rate (65.5%) |
|---|
| 1890 | 47.8% | 73.0% |
| 1900 | 46.7% | 71.3% |
| 1910 | 45.9% | 70.1% |
| 1920 | 45.6% | 69.6% |
| 1930 | 47.8% | 73.0% |
| 1940 | 43.6% | 66.6% |
| 1945 | 53.2% | 81.2% |
| 1950 | 55.0% | 84.0% |
| 1956 | 60.4% | 92.2% |
| 1960 | 61.9% | 94.5% |
| 1965 | 62.9% | 96.0% |
| 1970 | 64.3% | 98.2% |
| 1975 | 64.4% | 98.3% |
Historical Homeownership Rates
Historical homeownership rates indicate that while homeownership is more attainable than it was 100 years ago, growth has since stagnated.
- In 1890, less than half of Americans were homeowners.
- At the end of the Great Depression, there were two-thirds (2/3) as many homeowners as there were in 2021’s third fiscal quarter.
- From 1890 to 1960, homeownership increased 29.5%.
- During this period, the annual rate of increase in homeownership was 0.4%.
- From 1930 to 1940, homeownership declined 8.8% for a 0.9% annual rate of decline.
- From 1940 to 1945, homeownership increased 22.0% for an annual rate of 4.4%.
Homeownership Among Age Groups by Year
Homeownership has declined among all age groups, most notably among 45- to 54-year-olds.
- Since 2000, homeownership among 45- to 54-year-olds has declined 8.8%.
- Homeownership has declined 9.4% among 35- to 44-year-olds.
- Among 55- to 64-year-olds, homeownership has declined 6.6%.
- Among those 65 years and older, homeownership has declined 1.1%.
- Homeownership among those under 35 years old has declined 6.3%.
Homeownership Rates Among Age Groups by Year | Year | Homeownership Under 35* | 35 to 44 | 45 to 54 |
|---|
| 2021 | 38.2% | 61.5% | 69.7% |
| 2020 | 39.2% | 62.7% | 71.1% |
| 2019 | 36.7% | 60.1% | 70.1% |
| 2018 | 36.3% | 60.1% | 70.1% |
| 2017 | 35.3% | 59.0% | 69.3% |
| 2016 | 34.6% | 58.6% | 69.3% |
| 2015 | 35.0% | 58.5% | 70.0% |
| 2014 | 35.9% | 59.7% | 70.7% |
| 2013 | 36.8% | 60.6% | 71.2% |
| 2012 | 36.7% | 61.5% | 71.7% |
| 2011 | 37.8% | 63.5% | 72.7% |
| 2010 | 39.1% | 65.0% | 73.5% |
| 2009 | 39.8% | 66.2% | 74.4% |
| 2008 | 41.0% | 66.2% | 74.4% |
| 2007 | 41.7% | 67.8% | 75.4% |
| 2006 | 42.6% | 68.9% | 76.2% |
| 2005 | 43.1% | 69.3% | 76.6% |
| 2004 | 43.1% | 69.2% | 77.2% |
| 2003 | 41.5% | 68.4% | 76.4% |
| 2002 | 42.0% | 68.6% | 76.5% |
| 2001 | 41.3% | 68.3% | 76.8% |
| 2000 | 40.8% | 67.9% | 76.5% |
| 1999 | 39.7% | 67.2% | 76.0% |
| 1998 | 39.4% | 66.9% | 75.7% |
| 1997 | 38.7% | 66.1% | 75.8% |
| 1996 | 39.1% | 65.5% | 75.6% |
| 1995 | 38.7% | 65.2% | 75.2% |
| 1994 | 37.4% | 64.5% | 75.2% |
*The average of quarterly rates.
Homeownership by Income by Year
Households with a below-median income appear to experience greater market volatility with fewer long-term gains than above-median income households.
- Since 2000, homeownership among those with an income above the median has declined 3.2%.
- Homeownership among this income bracket peaked at 84.6% in 2004’s fourth financial quarter.
- Since then, homeownership has declined 6.0% among this income bracket.
- Also since 2000, homeownership among those with an income below the median has increased 0.9%.
- Homeownership among this income bracket peaked at 55.2% in 2020’s second financial quarter.
- Since then, homeownership has declined 0.9% among this income bracket.
Homeownership by Income | Year | Family Income Above Median* | Family Income Below Median |
|---|
| 2021 | 79.1% | 51.8% |
| 2020 | 79.7% | 53.5% |
| 2019 | 78.4% | 50.7% |
| 2018 | 78.4% | 50.4% |
| 2017 | 78.1% | 49.7% |
| 2016 | 77.9% | 48.9% |
| 2015 | 78.4% | 48.9% |
| 2014 | 79.4% | 49.5% |
| 2013 | 80.8% | 50.3% |
| 2012 | 80.4% | 50.5% |
| 2011 | 81.2% | 51.2% |
| 2010 | 81.9% | 51.9% |
| 2009 | 82.1% | 51.1% |
| 2008 | 83.1% | 51.6% |
| 2007 | 83.4% | 51.7% |
| 2006 | 84.2% | 52.7% |
| 2005 | 84.1% | 52.9% |
| 2004 | 84.1% | 52.5% |
| 2003 | 83.6% | 51.8% |
| 2002 | 82.6% | 52.1% |
| 2001 | 82.0% | 52.2% |
| 2000 | 81.6% | 51.6% |
| 1999 | 81.5% | 51.2% |
| 1998 | 80.9% | 50.6% |
| 1997 | 80.5% | 50.0% |
| 1996 | 80.2% | 49.5% |
| 1995 | 79.5% | 48.8% |
| 1994 | 78.5% | 48.4% |
*The average of quarterly rates.
Sources
- U.S. Census Bureau, Housing Vacancies and Homeownership
- The US homeownership rate has lost ground compared with other developed countries
- US Historical Homeownership Rate: 1890 to Present
- Why buying a house today is so much harder than in 1950
