Wednesday, February 20, 2013

Trends in Homeownership, 2012

The annual homeownership rate fell to 65.4 percent in 2012, down from 66.1 percent in 2011 and an all-time high of 69.0 percent in 2004. The homeownership rate hasn't been this low since 1996. By age, 2012 homeownership rates look like this...

Under age 25: 21.7%
Aged 25 to 29: 34.3%
Aged 30 to 34: 47.9%
Aged 35 to 44: 61.4%
Aged 45 to 54: 71.7%
Aged 55 to 64: 77.3%
Aged 65-plus: 81.1%

Between 2010 and 2011, the biggest decline in homeownership occurred in the 35-to-39 age group (down 2.9 percentage points) because young adults who have been hesitant to buy are aging into their late thirties. Between 2004 and 2012, the 30-to-34 age group has experienced the biggest decline in homeownership, down a steep 9.5 percentage points from 57.4 to 47.9 percent (an all-time low). The 35-to-39 age group did not fare much better, with a 9.3 percentage point decline during those years (falling from 66.2 to 56.9 percent, also an all-time low).

Source: Census Bureau, Housing Vacancies and Homeownership

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