Homeownership Rate Ticked Down in Q3

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The U.S. homeownership rate in the third quarter dipped to 67.4%, down from 67.9% in the second quarter but up from 64.8% in the third quarter of 2019, according to the U.S. Census Bureau.

Regionally, the homeownership rate was 71.2% in the Midwest; 70.8% in the South; 62% in the Northeast; and 62.1% in the West.

As usual, the homeownership rate was highest for householders aged 65 years and over (80.7%) and lowest for those householders under 35 years of age (40.2%).

The homeownership rates for all age groups were higher than the rates in the third quarter 2019.

By race, the homeownership rate for non-Hispanic White Alone householders reporting a single race was highest at 75.8%.

The rate for Asian, Native Hawaiian and Pacific Islander Alone householders was second at 61.0% and the rate for Black Alone householders was lowest at 46.4%.

The homeownership rates for all race categories were higher than the rates in the third quarter 2019.

The national vacancy rates for rental housing was 6.4%, up from 5.7% in the second quarter but down from 6.8% in the third quarter of 2019.

The homeowner vacancy rate was 0.9%, flat compared with the second quarter but down from 1.4% in the third quarter of 2019.

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