Homeownership Rate Continues to Slide

The government's annual estimates of homeownership have just been released, and the Census Bureau reports another decline in the nation's homeownership rate. The rate fell from 68.8 percent of households in 2006 to 68.1 percent in 2007. This is well below the peak homeownership rate of 69.0 percent reached in 2004. 

The homeownership rate fell in almost every age group between 2004 and 2007, with the biggest loss occurring among 30-to-34-year-olds—a 3 percentage point decline. Only one age group did not see homeownership become less common during those years. The homeownership rate of 25-to-29-year-olds increased by 0.4 percentage points between 2004 and 2007. 

Here are the 2007 numbers by age:

Total households: 68.1

Under age 25: 24.8

Aged 25 to 29: 40.6 

Aged 30 to 34: 54.4

Aged 35 to 39: 65.0

Aged 40 to 44: 70.4

Aged 45 to 49: 74.0

Aged 50 to 54: 76.9

Aged 55 to 59: 79.9

Aged 60 to 64: 81.5

Aged 65 to 69: 81.7

Aged 70 to 74: 82.4

Aged 75 or older: 78.7

Source: Census Bureau, Housing Vacancy Survey