Homeownership Rate by State

Last Updated: October 9, 2022

Highlights. Homeownership rates among states have seen long-term and short-term declines, significantly among Coastal and Southern states.

    • The national average homeownership rate is 65.8% as of 2022’s second financial quarter (2022Q2).
    • The homeownership rate declined in 82% of states between 2005 and 2020.
    • West Virginia has the highest homeownership rate nationwide at 77.8%.
    • New York has the lowest homeownership rate among states at 53.6%.
  • Washington, D.C.’s homeownership rate is 44.7%.

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Homeownership by state on iPropertyManagement.com

Homeownership Among States

In some states, homeownership rates are low because renting is popular. In other cases, however, states with low homeownership rates also have a high rental vacancy rate, which may indicate depopulation.

  • Colorado has seen the most significant long-term decline in the homeownership rate, which decreases by 0.57% annually on a 15-year scale.
  • Homeownership rates in New Jersey, California, and North Dakota declined more than 0.40% annually from 2005 to 2020.
  • Missouri saw the most significant year-over-year (YoY) decline in 2022Q2 at -6.57%.
  • Rhode Island and Iowa had the most significant YoY increase in the homeownership rate at 7.56% and 6.82%, respectively.
  • The District of Columbia and the State of New York have the lowest homeownership rates at 44.7% and 53.6%, respectively.
  • Iowa has the second-highest homeownership rate at 76.8%.
  • West Virginia easily has the highest homeownership rate on long-term and short-term scales; West Virginia households are 4.3% more likely to own their home than households in any other state and 21.7% more likely to own their home than the average American household.

Homeownership rate change from      to      on iPropertyManagement.com

Homeownership by State
State 2nd Quarter 2022 %Change Since 2005
Alabama 71.3% -6.29%
Alaska 65.5% -0.76%
Arizona 67.2% -5.49%
Arkansas 64.5% -6.79%
California 54.6% -8.54%
Colorado 66.3% -6.62%
Connecticut 63.0% -10.64%
Delaware 72.6% -4.22%
D.C. 44.7% -2.40%
Florida 67.9% -3.22%
Georgia 65.9% -2.95%
Hawaii 58.3% -2.51%
Idaho 73.3% -1.21%
Illinois 66.8% -5.78%
Indiana 72.1% -3.87%
Iowa 76.8% 3.92%
Kansas 69.7% 0.29%
Kentucky 69.9% -2.37%
Louisiana 69.8% -3.72%
Maine 76.2% 2.39%
Maryland 72.9% 2.39%
Massachusetts 61.66% -2.84%
Michigan 73.3% -4.06%
Minnesota 75.3% -1.57%
Mississippi 72.3% -8.25%
Missouri 69.7% -3.60%
Montana 67.1% -4.69%
Nebraska 68.5% -2.42%
Nevada 59.7% -5.84%
New Hampshire 73.7% -0.41%
New Jersey 63.3% -9.70%
New Mexico 69.2% -3.08%
New York 54.6% -4.11%
North Carolina 64.0% -6.57%
North Dakota 64.0% -6.57%
Ohio 67.0% -8.59%
Oklahoma 69.6% -4.53%
Oregon 67.3% -1.32%
Pennsylvania 70.7% -3.55%
Rhode Island 64.0% 1.43%
South Carolina 76.6% 3.65%
South Dakota 69.3% -1.32%
Tennessee 67.8% -6.35%
Texas 63.4% -3.79%
Utah 70.6% -4.47%
Vermont 73.3% -1.21%
Virginia 69.4% -2.53%
Washington 66.2% -2.07%
West Virginia 77.8% -4.31%
Wisconsin 769.3% -2.53%
Wyoming 73.8% 1.37%

Homeownership rate change from      to      on iPropertyManagement.com

Alabama’s Homeownership Rate

Homeownership in Alabama is above the national average, while rental vacancy rates are high.

  • The homeownership rate in Alabama was 71.3% in 2022Q2.
  • Alabama homeownership was down 0.28% from the previous quarter (2022Q1) and down 1.38% YoY.
  • Alabama’s homeownership rate is 8.36% above the national average.
  • Between 2020Q2 and 2022Q2, homeownership in Alabama declined by 7.28%.
  • From 2005-2020, Alabama’s average homeownership rate was 72.5%.
  • Alabama homeownership is currently 0.78% lower than the state’s average homeownership rate between 2005 and 2020.
  • Since 2005, Alabama homeownership has declined by 6.92%.
  • The homeowner vacancy rate in Alabama is 0.8%, which is equal to the national average.
  • Alabama’s rental vacancy rate is 6.9%, 23.2% above the national average.

Alaska’s Homeownership Rate

Alaska’s homeownership rate is below the national average, and homeowner vacancy rates are high.

  • The homeownership rate in Alaska was 65.5% in 2022Q2.
  • Alaska homeownership was up 5.99% from the previous quarter (2022Q1) and up 3.31% YoY.
  • Alaska’s homeownership rate is 0.46% below the national average.
  • Between 2020Q2 and 2022Q2, homeownership in Alaska declined by 2.24%.
  • From 2005-2020, Alaska’s average homeownership rate was 65.0%.
  • Alaska homeownership in 2022Q2 was 0.77% higher than the state’s average homeownership rate from 2005 to 2020.
  • Since 2005, Alaska homeownership has declined by 0.76%.
  • The homeowner vacancy rate in Alaska is 1.0%, which is 25.0% above the national average.
  • Alaska’s rental vacancy rate is 4.1%, which is 26.8% below the national average.

Arizona’s Homeownership Rate

Arizona’s homeownership rate is slightly above average, while vacancy rates are low.

  • The homeownership rate in Arizona was 67.2% in 2022Q2.
  • Arizona homeownership was up 1.20% from the previous quarter (2022Q1) and up 2.13% YoY.
  • Arizona’s homeownership rate is 2.13% above the national average.
  • Between 2020Q2 and 2022Q2, homeownership in Arizona decreased by 6.28%.
  • From 2005-2020, Arizona’s average homeownership rate was 66.6%.
  • Arizona homeownership in 2022Q2 was 0.90% higher than the state’s average homeownership rate from 2005 to 2020.
  • Since 2005, Arizona homeownership has declined by 5.49%.
  • The homeowner vacancy rate in Arizona is 0.9%, which is 12.5% above the national average.
  • Arizona’s rental vacancy rate is 5.5%, 1.8% below the national average.

Arkansas’ Homeownership Rate

Homeownership in Arkansas is slightly below average and in long-term decline.

  • The homeownership rate in Arkansas was 64.5% in 2022Q2.
  • Arkansas homeownership was down 3.01% from the previous quarter (2022 Q2) and down 2.42% YoY.
  • Arkansas’s homeownership rate is 1.98% below the national average.
  • Between 2020Q2 and 2022Q2, homeownership in Arkansas declined by 9.54%.
  • From 2005-2020, Arkansas’s average homeownership rate was 67.4%.
  • Arkansas homeownership in 2022Q2 was 4.30% lower than the state’s average homeownership rate from 2005 to 2020.
  • Since 2005, Arkansas homeownership has declined by 6.79%.
  • The homeowner vacancy rate in Arkansas is 1.2%, which is 50% above the national average.
  • Arkansas’s rental vacancy rate is 8.4%, 50.0% above the national average.

California’s Homeownership Rate

Homeownership rates in California are among the lowest nationwide and declining in favor of apartment rentals.

  • The homeownership rate in California was 54.6% in 2022Q2.
  • California homeownership was up 0.74% from the previous quarter (2022Q1) and up 1.30% YoY.
  • California’s homeownership rate is 17.02% below the national average.
  • Between 2020Q2 and 2022Q2, homeownership in California declined by 3.19%.
  • From 2005-2020, California’s average homeownership rate was 56.0%.
  • California homeownership in 2022Q2 was 2.50% lower than the state’s average homeownership rate from 2005 to 2020.
  • Since 2005, California homeownership has declined by 8.54%.
  • The homeowner vacancy rate in California is 0.8%, which is equal to the national average.
  • California’s rental vacancy rate is 4.1%, 26.8% below the national average.

Colorado’s Homeownership Rate

The homeownership rate in Colorado is above average and relatively stable in the long term.

  • The homeownership rate in Colorado was 66.3% in 2022Q2.
  • Colorado homeownership was down 1.04% from the previous quarter (2022Q1) and up 2.16% YoY.
  • Colorado’s homeownership rate is 0.76% above the national average.
  • Between 2020Q2 and 2022Q2, homeownership in Colorado increased by 0.45%.
  • From 2005-2020, Colorado’s average homeownership rate was 66.3%.
  • Colorado homeownership in 2022Q2 was equal to the state’s average homeownership rate from 2005 to 2020.
  • Since 2005, Colorado homeownership has declined by 6.62%.
  • The homeowner vacancy rate in Colorado is 0.3%, which is 62.5% below the national average.
  • Colorado’s rental vacancy rate is 4.0%, 28.8% below the national average.

Connecticut’s Homeownership Rate

While the homeownership rate in Connecticut is below average and among the state’s most significant long-term decline.

  • The homeownership rate in Connecticut was 63.0% in 2022Q2.
  • Connecticut homeownership was up 1.41% from the previous quarter (2022Q2) and down 4.11% YoY.
  • Connecticut’s homeownership rate is 4.26% below the national average.
  • Between 2020Q2 and 2022Q2, homeownership in Connecticut declined by 5.55%.
  • From 2005-2020, Connecticut’s average homeownership rate was 68.3%.
  • Connecticut homeownership in 2022Q2 was 7.76% lower than the state’s average homeownership rate from 2005 to 2020.
  • Since 2005, Connecticut homeownership has declined by 10.6%.
  • The homeowner vacancy rate in Connecticut is 4.0%, which is 400.0% above the national average.
  • Connecticut’s rental vacancy rate is 2.1%, which is 62.5% below the national average.

Delaware’s Homeownership Rate

Though the homeownership rate in Delaware has declined in recent years, it remains significantly higher than the national average homeownership rate; vacancy rates are low.

  • The homeownership rate in Delaware was 72.6% in 2022Q2.
  • Delaware homeownership was down 3.97% from the previous quarter (2022Q1) and 0.14% YoY.
  • Delaware’s homeownership rate is 10.3% above the national average.
  • Between 2020Q2 and 2022Q2, homeownership in Delaware declined by 10.7%.
  • From 2005-2020, Delaware’s average homeownership rate was 74.4%.
  • Delaware homeownership in 2022Q2 was 2.42% lower than the state’s average homeownership rate from 2005 to 2020.
  • Since 2005, Delaware homeownership has declined by 4.22%.
  • The homeowner vacancy rate in Delaware is 1.1%, which is 37.5% above the national average.
  • Delaware’s rental vacancy rate is 2.6%, 53.6% below the national average.

District of Columbia’s Homeownership Rate

With the lowest homeownership rate in the nation, vacancies in the District of Columbia are on the rise.

  • The homeownership rate in D.C. was 44.7% in 2022Q2.
  • D.C. homeownership was up 10.9% from the previous quarter (2022Q1) and up 11.2% YoY.
  • D.C.’s homeownership rate is 32.1% below the national average.
  • Between 2020Q2 and 2022Q2, homeownership in D.C. increased by 5.18%.
  • From 2005-2020, D.C.’s average homeownership rate was 43.3%.
  • D.C. homeownership in 2022Q2 was 3.23% higher than the state’s average homeownership rate from 2005 to 2020.
  • Since 2005, D.C. homeownership has declined by 2.40%.
  • The homeowner vacancy rate in D.C. is 1.6%, which is 100.0% above the national average.
  • D.C.’s rental vacancy rate is 8.5%, which is 51.8% above the national average.

Florida’s Homeownership Rate

While the homeownership rate in Florida is above the national average, the vacancy rate is also above average and growing.

  • The homeownership rate in Florida was 67.9% in 2022Q2.
  • Florida homeownership was up 0.89% from the previous quarter (2022Q1) and 1.34% YoY.
  • Florida’s homeownership rate is 2.91% above the national average.
  • Between 2020Q2 and 2022Q2, homeownership in Florida declined by 3.14%.
  • From 2005-2020, Florida’s average homeownership rate was 68.0%.
  • Florida homeownership in 2022Q2 was 0.15% lower than the state’s average homeownership rate from 2005 to 2020.
  • Since 2005, Florida homeownership has declined by 6.22%.
  • The homeowner vacancy rate in Florida is 1.5%, which is 87.5% above the national average.
  • Florida’s rental vacancy rate is 8.0%, 42.9% above the national average.

Average quarterly homeownership rate change from     Q  to     Q  on iPropertyManagement.com

Georgia’s Homeownership Rate

On par with the national average, homeownership in Georgia has remained relatively stable in the long term.

  • The homeownership rate in Georgia was 65.9% in 2022Q2.
  • Georgia homeownership was down 0.15% from the previous quarter (2022Q1) and up 4.77% YoY.
  • Georgia’s homeownership rate is 0.15% above the national average.
  • Between 2020Q2 and 2022Q2, homeownership in Georgia declined by 4.08%.
  • From 2005-2020, Georgia’s average homeownership rate was 65.5%.
  • Georgia homeownership in 2022Q2 was 0.61% higher than the state’s average homeownership rate from 2005 to 2020.
  • Since 2005, Georgia homeownership has declined by 2.95%.
  • The homeowner vacancy rate in Georgia is 1.0%, which is 25.0% above the national average.
  • Georgia’s rental vacancy rate is 7.6%, which is 35.7% above the national average.

Hawaii’s Homeownership Rate

While homeownership has increased since 2005, the homeownership rate is well below the national average, and vacancy rates are very high.

  • The homeownership rate in Hawaii was 58.3% in 2022Q2.
  • Hawaii homeownership was down 1.19% from the previous quarter (2022Q1) and up 1.22% YoY.
  • Hawaii’s homeownership rate is 11.4% below the national average.
  • Between 2020Q2 and 2022Q2, homeownership in Hawaii declined by 2.83%.
  • From 2005-2020, Hawaii’s average homeownership rate was 58.4%.
  • Hawaii homeownership in 2022Q2 was 0.17% higher than the state’s average homeownership rate from 2005 to 2020.
  • Since 2005, Hawaii homeownership has decreased by 2.51%.
  • The homeowner vacancy rate in Hawaii is 1.1%, which is 37.5% above the national average.
  • Hawaii’s rental vacancy rate is 5.4%, which is 3.6% above the national average.

Idaho’s Homeownership Rate

Idaho has a healthy rate of homeownership – high and steady. Vacancy rates are very low.

  • The homeownership rate in Idaho was 73.3% in 2022Q2.
  • Idaho homeownership was up 4.12% from the previous quarter (2022Q1) and up 1.24% YoY.
  • Idaho’s homeownership rate is 11.4% above the national average.
  • Between 2020Q2 and 2022Q2, homeownership in Idaho increased by 1.81%.
  • From 2005-2020, Idaho’s average homeownership rate was 72.2%.
  • Idaho homeownership in 2022Q2 was 1.52% higher than the state’s average homeownership rate from 2005 to 2020.
  • Since 2005, Idaho homeownership has declined by 1.21%.
  • The homeowner vacancy rate in Idaho is 0.5%, which is 37.5% below the national average.
  • Idaho’s rental vacancy rate is 3.8%, which is 32.1% below the national average.

Illinois’ Homeownership Rate

The homeownership rate in Illinois is relatively steady, with a high vacancy rate.

  • The homeownership rate in Illinois was 66.8% in 2022Q2.
  • Illinois homeownership was down 1.76% from the previous quarter (2022Q1) and down 1.91% YoY.
  • Illinois’s homeownership rate is 1.52% above the national average.
  • Between 2020Q2 and 2022Q2, homeownership in Illinois increased by 1.06%.
  • From 2005-2020, Illinois’s average homeownership rate was 67.6%.
  • Illinois homeownership in 2022Q2 was 1.18% higher than the state’s average homeownership rate from 2005 to 2020.
  • Since 2005, Illinois homeownership has declined by 5.78%.
  • The homeowner vacancy rate in Illinois is 1.5%, which is 87.5% above the national average.
  • Illinois’s rental vacancy rate is 7.9%, which is 41.1% above the national average.

Indiana’s Homeownership Rate

In Indiana, homeownership is very attainable and much more popular than rental housing.

  • The homeownership rate in Indiana was 72.1% in 2022Q2.
  • Indiana homeownership was up 1.12% from the previous quarter (2022Q1) and up 1.69% YoY.
  • Indiana’s homeownership rate is 9.57% above the national average.
  • Between 2020Q2 and 2022Q2, homeownership in Indiana decreased by 0.69%.
  • From 2005-2020, Indiana’s average homeownership rate was 71.8%.
  • Indiana homeownership in 2022Q2 was 0.42% higher than the state’s average homeownership rate from 2005 to 2020.
  • Since 2005, Indiana homeownership has declined by 3.87%.
  • The homeowner vacancy rate in Indiana is 0.3%, which is 62.5% below the national average.
  • Indiana’s rental vacancy rate is 8.7%, which is 55.4% above the national average.

Iowa’s Homeownership Rate

Iowa has one of the highest homeownership rates in the nation; it is one (1) of just nine (9) states with a homeownership rate higher than its 2005 homeownership rate.

  • The homeownership rate in Iowa was 76.8% in 2022Q2.
  • Iowa homeownership was up 1.59% from the previous quarter (2022Q1) and 6.82% YoY.
  • Iowa’s homeownership rate is 16.7% above the national average.
  • Between 2020Q2 and 2022Q2, homeownership in Iowa increased by 8.63%.
  • From 2005-2020, Iowa’s average homeownership rate was 71.2%.
  • Iowa homeownership in 2022Q2 was 7.87% higher than the state’s average homeownership rate from 2005 to 2020.
  • Since 2005, Iowa homeownership has increased by 3.92%.
  • The homeowner vacancy rate in Iowa is 0.5%, which is 37.5% below the national average.
  • Iowa’s rental vacancy rate is 6.5%, 16.1% above the national average.

Kansas’ Homeownership Rate

Homeownership in Kansas is above average though vacancy rates are relatively high.

  • The homeownership rate in Kansas was 69.7% in 2022Q2.
  • Kansas homeownership was up 1.01% from the previous quarter (2022Q1) and down 0.71% YoY.
  • Kansas’s homeownership rate is 5.93% above the national average.
  • Between 2020Q2 and 2022Q2, homeownership in Kansas declined by 3.19%.
  • From 2005-2020, Kansas’s average homeownership rate was 67.1%.
  • Kansas homeownership in 2022Q2 was 3.87% higher than the state’s average homeownership rate from 2005 to 2020.
  • Since 2005, Kansas homeownership has increased by 0.29%.
  • The homeowner vacancy rate in Kansas is 1.1%, which is 37.5% above the national average.
  • Kansas’s rental vacancy rate is 10.8%, 92.9% above the national average.

Kentucky’s Homeownership Rate

Kentucky’s homeownership rate appears relatively stable in the long and short term.

  • The homeownership rate in Kentucky was 69.9% in 2022Q2.
  • Kentucky homeownership was up 2.04% from the previous quarter (2022Q1) and down 3.32% YoY.
  • Kentucky’s homeownership rate is 6.23% above the national average.
  • Between 2020Q2 and 2022Q2, homeownership in Kentucky declined by 8.03%.
  • From 2005-2020, Kentucky’s average homeownership rate was 70.1%.
  • Kentucky homeownership in 2022Q2 was 0.29% lower than the state’s average homeownership rate from 2005 to 2020.
  • Since 2005, Kentucky homeownership has declined by 2.37%.
  • The homeowner vacancy rate in Kentucky is 0.8%, which is equal to the national average.
  • Kentucky’s rental vacancy rate is 3.8%, 32.1% below the national average.

Louisiana’s Homeownership Rate

Homeownership in Louisiana is above average, so it’s homeowner vacancy.

  • The homeownership rate in Louisiana was 69.8% in 2022Q2.
  • Louisiana homeownership was up 0.14% from the previous quarter (2022Q1) and up 2.35% YoY.
  • Louisiana’s homeownership rate is 6.08% above the national average.
  • Between 2020Q2 and 2022Q2, homeownership in Louisiana decreased by 0.43%.
  • From 2005-2020, Louisiana’s average homeownership rate was 68.6%.
  • Louisiana homeownership in 2022Q2 was 1.75% higher than the state’s average homeownership rate from 2005 to 2020.
  • Since 2005, Louisiana homeownership has declined by 3.72%.
  • The homeowner vacancy rate in Louisiana is 1.1%, which is 37.5% above the national average.
  • Louisiana’s rental vacancy rate is 6.6%, 17.9% below the national average.

Maine’s Homeownership Rate

Maine has one of the nation’s highest homeownership rates and a very low homeowner vacancy rate.

  • The homeownership rate in Maine was 76.2% in 2022Q2.
  • Maine homeownership was up 0.79% from the previous quarter (2022Q1) and 1.20% YoY.
  • Maine’s homeownership rate is 15.8% above the national average.
  • Between 2020Q2 and 2022Q2, homeownership in Maine decreased by 3.91%.
  • From 2005-2020, Maine’s average homeownership rate was 73.3%.
  • Maine homeownership in 2022Q2 was 3.96% higher than the state’s average homeownership rate from 2005 to 2020.
  • Since 2005, Maine homeownership has increased by 3.11%.
  • The homeowner vacancy rate in Maine is 0.2%, which is 75.0% below the national average.
  • Maine’s rental vacancy rate is 4.1%, which is 26.8% above the national average.

Maryland’s Homeownership Rate

Homeownership rates in Maryland appear healthy and stable.

  • The homeownership rate in Maryland was 72.9% in 2022Q2.
  • Maryland homeownership was down 1.49% from the previous quarter (2022Q1) and up 5.50% YoY.
  • Maryland’s homeownership rate is 10.8% above the national average.
  • Between 2020Q2 and 2022Q2, homeownership in Maryland increased by 2.41%.
  • From 2005-2020, Maryland’s average homeownership rate was 69.0%.
  • Maryland homeownership in 2022Q2 was 5.65% higher than the state’s average homeownership rate from 2005 to 2020.
  • Since 2005, Maryland homeownership has increased by 2.39%.
  • There is insufficient data to determine the homeowner vacancy rate in Maryland.
  • Maryland’s rental vacancy rate is 3.9%, which is 30.4% above the national average.

Homeownership rate difference btween     Q      Q  on iPropertyManagement.com

Massachusetts’ Homeownership Rate

Homeownership and vacancy rates indicate that renting is more common among households in the long term.

  • The homeownership rate in Massachusetts was 61.6% in 2022Q2.
  • Massachusetts homeownership was up 2.67% from the previous quarter (2022Q1) and down 0.81% YoY.
  • Massachusetts’s homeownership rate is 6.38% below the national average.
  • Between 2020Q2 and 2022Q2, homeownership in Massachusetts declined by 2.99%.
  • From 2005-2020, Massachusetts’s average homeownership rate was 63.4%.
  • Massachusetts homeownership in 2022Q2 was 2.84% lower than the state’s average homeownership rate from 2005 to 2020.
  • Since 2005, Massachusetts homeownership has declined by 2.84%.
  • The homeowner vacancy rate in Massachusetts is 0.6%, 25.0% below the national average.
  • Massachusetts’s rental vacancy rate is 2.7%, which is 51.8% below the national average.

Michigan’s Homeownership Rate

Homeownership in Michigan is traditionally attainable, and homeownership rates are well above the national average.

  • The homeownership rate in Michigan was 73.3% in 2022Q2.
  • Michigan homeownership was down 0.27% from the previous quarter (2022Q1) and remained stable YoY.
  • Michigan’s homeownership rate is 11.4% above the national average.
  • Between 2020Q2 and 2022Q2, homeownership in Michigan declined by 2.53%.
  • From 2005-2020, Michigan’s average homeownership rate was 74.5%.
  • Michigan homeownership in 2022Q2 was 1.61% lower than the state’s average homeownership rate from 2005 to 2020.
  • Since 2005, Michigan homeownership has declined by 4.06%.
  • The homeowner vacancy rate in Michigan is 0.5%, which is 37.5% below the national average.
  • Michigan’s rental vacancy rate is 5.2%, which is 7.1% below the national average.

Minnesota’s Homeownership Rate

In Minnesota, homeownership is much more common than renting though vacancies are high.

  • The homeownership rate in Minnesota was 75.3% in 2022Q2.
  • Minnesota homeownership was up 1.62% from the previous quarter (2022Q1) and down 2.08% YoY.
  • Minnesota’s homeownership rate is 14.4% above the national average.
  • Between 2020Q2 and 2022Q2, homeownership in Minnesota decreased by 0.92%.
  • From 2005-2020, Minnesota’s average homeownership rate was 72.7%.
  • Minnesota homeownership in 2022Q2 was 3.58% higher than the state’s average homeownership rate from 2005 to 2020.
  • Since 2005, Minnesota homeownership has declined by 1.57%.
  • The homeowner vacancy rate in Minnesota is 0.5%, which is 37.5% below the national average.
  • Minnesota’s rental vacancy rate is 8.0%, 42.9% above the national average.

Mississippi’s Homeownership Rate

Homeownership in Mississippi is higher than the national average rate and relatively stable.

  • The homeownership rate in Mississippi was 72.3% in 2022Q2.
  • Mississippi homeownership was down 3.34% from the previous quarter (2022Q1) and up 3.29% YoY.
  • Mississippi’s homeownership rate is 9.88% above the national average.
  • Between 2020Q2 and 2022Q2, homeownership in Mississippi decreased by 2.30%.
  • From 2005-2020, Mississippi’s average homeownership rate was 73.9%.
  • Mississippi homeownership in 2022Q2 was 2.17% lower than the state’s average homeownership rate from 2005 to 2020.
  • Since 2005, Mississippi homeownership has declined by 8.25%.
  • The homeowner vacancy rate in Mississippi is 0.4%, which is 50.0% below the national average.
  • Mississippi’s rental vacancy rate is 8.1%, which is 44.6% above the national average.

Missouri’s Homeownership Rate

Missouri’s homeownership rates fluctuate more than most other states, and vacancy is high.

  • The homeownership rate in Missouri was 69.7% in 2022Q2.
  • Missouri homeownership was up 2.95% from the previous quarter (2022Q1) and down 6.57% YoY.
  • Missouri’s homeownership rate is 5.93% above the national average.
  • Between 2020Q2 and 2022Q2, homeownership in Missouri decreased by 6.57%.
  • From 2005-2020, Missouri’s average homeownership rate was 70.4%.
  • Missouri homeownership in 2022Q2 was 0.99% lower than the state’s average homeownership rate from 2005 to 2020.
  • Since 2005, Missouri homeownership has declined by 3.60%.
  • The homeowner vacancy rate in Missouri is 0.3%, which is 62.5% below the national average.
  • Missouri’s rental vacancy rate is 6.9%, 23.2% above the national average.

Montana’s Homeownership Rate

Homeownership and vacancy rates in Montana are stable in the long term and short term.

  • The homeownership rate in Montana was 67.1% in 2022Q2.
  • Montana homeownership was down 0.89% from the previous quarter (2022Q1) and down 1.18% YoY.
  • Montana’s homeownership rate is 1.98% above the national average.
  • Between 2020Q2 and 2022Q2, homeownership in Montana declined by 4.96%.
  • From 2005-2020, Montana’s average homeownership rate was 68.3%.
  • Montana homeownership in 2022Q2 was 1.76% lower than the state’s average homeownership rate from 2005 to 2020.
  • Since 2005, Montana homeownership has declined by 4.69%.
  • The homeowner vacancy rate in Montana is 0.4%, which is 50.0% below the national average.
  • Montana’s rental vacancy rate is 3.6%, which is 35.7% below the national average.

Nebraska’s Homeownership Rate

Homeownership has slowly and steadily declined, but Nebraska still has a homeownership rate above the national average.

  • The homeownership rate in Nebraska was 68.5% in 2022Q2.
  • Nebraska homeownership was up 1.63% from the previous quarter (2022Q1) and up 3.47% YoY.
  • Nebraska’s homeownership rate is 4.10% above the national average.
  • Between 2020Q2 and 2022Q2, homeownership in Nebraska declined by 4.73%.
  • From 2005-2020, Nebraska’s average homeownership rate was 68.5%.
  • Nebraska homeownership in 2022Q2 was equal to the state’s average homeownership rate from 2005 to 2020.
  • Since 2005, Nebraska homeownership has declined by 2.42%.
  • The homeowner vacancy rate in Nebraska is 0.5%, which is 37.5% below the national average.
  • Nebraska’s rental vacancy rate is 5.2%, which is 7.1% below the national average.

Nevada’s Homeownership Rate

With a high rental vacancy rate and a long-term decline in homeownership, Nevada appears to have lost some of its population.

  • The homeownership rate in Nevada was 59.7% in 2022Q2.
  • Nevada homeownership remained stable from the previous quarter (2022Q1) and down 0.83% YoY.
  • Nevada’s homeownership rate is 9.27% below the national average.
  • Between 2020Q2 and 2022Q2, homeownership in Nevada declined by 4.94%.
  • From 2005-2020, Nevada’s average homeownership rate was 59.0%.
  • Nevada homeownership in 2022Q2 was 1.19% higher than the state’s average homeownership rate from 2005 to 2020.
  • Since 2005, Nevada homeownership has declined by 5.84%.
  • The homeowner vacancy rate in Nevada is 0.9%, which is 12.5% above the national average.
  • Nevada’s rental vacancy rate is 4.8%, which is 14.3% above the national average.

New Hampshire’s Homeownership Rate

With one of the highest homeownership rates nationwide, home buying has been rising over the long term.

  • The homeownership rate in New Hampshire was 73.7% in 2022Q2.
  • New Hampshire homeownership was down 2.51% from the previous quarter (2022Q1) and increased 1.94% YoY.
  • New Hampshire’s homeownership rate is 12.0% above the national average.
  • Between 2020Q2 and 2022Q2, homeownership in New Hampshire increased by 1.34%.
  • From 2005-2020, New Hampshire’s average homeownership rate was 73.8%.
  • New Hampshire homeownership in 2022Q2 was 0.14% lower than the state’s average homeownership rate from 2005 to 2020.
  • Since 2005, New Hampshire homeownership has declined by 0.41%.
  • The homeowner vacancy rate in New Hampshire is 0.4%, which is 50.0% below the national average.
  • New Hampshire’s rental vacancy rate is 4.5%, which is 19.6% below the national average.

New Jersey’s Homeownership Rate

While homeownership in New Jersey is slightly below average, vacancy rates are also low.

  • The homeownership rate in New Jersey was 63.3% in 2022Q2.
  • New Jersey homeownership was up 1.77% from the previous quarter (2022Q1) and up 3.60% YoY.
  • New Jersey’s homeownership rate is 3.80% below the national average.
  • Between 2020Q2 and 2022Q2, homeownership in New Jersey declined by 1.56%.
  • From 2005-2020, New Jersey’s average homeownership rate was 65.9%.
  • New Jersey homeownership in 2022Q2 was 3.95% lower than the state’s average homeownership rate from 2005 to 2020.
  • Since 2005, New Jersey homeownership has declined by 9.70%.
  • The homeowner vacancy rate in New Jersey is 0.5%, which is 37.5% below the national average.
  • New Jersey’s rental vacancy rate is 3.2%, 42.9% below the national average.

New Mexico’s Homeownership Rate

More residents appear to be leaving rentals to purchase homes.

  • The homeownership rate in New Mexico was 69.2% in 2022Q2.
  • New Mexico homeownership was down 0.14% from the previous quarter (2022Q1) and up 2.98% YoY.
  • New Mexico’s homeownership rate is 5.17% above the national average.
  • Between 2020Q2 and 2022Q2, homeownership in New Mexico declined by 6.23%.
  • From 2005-2020, New Mexico’s average homeownership rate was 68.7%.
  • New Mexico homeownership in 2022Q2 was 0.73% higher than the state’s average homeownership rate from 2005 to 2020.
  • Since 2005, New Mexico homeownership has declined by 3.08%.
  • The homeowner vacancy rate in New Mexico is 1.0%, which is 25.0% above the national average.
  • New Mexico’s rental vacancy rate is 6.6%, 17.9% below the national average.

Homeownership rate difference between     Q      Q  on iPropertyManagement.com

New York’s Homeownership Rate

While the homeownership rate is the nation’s lowest, the market appears stable.

  • The homeownership rate in New York was 53.6% in 2022Q2.
  • New York homeownership was down 1.29% from the previous quarter (2022Q1) and up 0.94% YoY.
  • New York’s homeownership rate is 18.5% below the national average.
  • Between 2020Q2 and 2022Q2, homeownership in New York decreased by 1.47%.
  • From 2005-2020, New York’s average homeownership rate was 53.5%.
  • New York homeownership in 2022Q2 was 0.19% lower than the state’s average homeownership rate from 2005 to 2020.
  • Since 2005, New York homeownership has declined by 4.11%.
  • The homeowner vacancy rate in New York is 1.3%, which is 62.5% above the national average.
  • New York’s rental vacancy rate is 4.4%, 21.4% below the national average.

North Carolina’s Homeownership Rate

Rental housing appears to be more popular among residents than homeownership.

  • The homeownership rate in North Carolina was 67.9% in 2022Q2.
  • North Carolina homeownership was up 0.30% from the previous quarter (2022Q1) and up 2.11% YoY.
  • North Carolina’s homeownership rate is 3.19% above the national average.
  • Between 2020Q2 and 2022Q2, homeownership in North Carolina declined by 6.47%.
  • From 2005-2020, North Carolina’s average homeownership rate was 67.9%.
  • North Carolina homeownership in 2022Q2 was equal to the state’s average homeownership rate from 2005 to 2020.
  • Since 2005, North Carolina homeownership has declined by 4.23%.
  • The homeowner vacancy rate in North Carolina is 0.8%, which is equal to the national average.
  • North Carolina’s rental vacancy rate is 5.4%, which is 3.6% above the national average.

North Dakota’s Homeownership Rate

Homeownership in North Dakota is below average, while vacancy rates are very high.

  • The homeownership rate in North Dakota was 64.0% in 2022Q1.
  • North Dakota homeownership was up 0.47% from the previous quarter (2022Q1) and down 0.31% YoY.
  • North Dakota’s homeownership rate is 2.74% below the national average.
  • Between 2020Q2 and 2022Q2, homeownership in North Dakota declined by 2.29%.
  • From 2005-2020, North Dakota’s average homeownership rate was 65.2%.
  • North Dakota homeownership in 2022Q2 was 1.84% lower than the state’s average homeownership rate from 2005 to 2020.
  • Since 2005, North Dakota homeownership has declined by 6.57%.
  • The homeowner vacancy rate in North Dakota is 1.3%, which is 62.5% above the national average.
  • North Dakota’s rental vacancy rate is 11.0%, 96.4% above the national average.

Ohio’s Homeownership Rate

Ohio’s homeownership rate is above average but in steady decline.

  • The homeownership rate in Ohio was 67.0% in 2022Q2.
  • Ohio homeownership remained stable from the previous quarter (2022Q1) and declined 1.03% YoY.
  • Ohio’s homeownership rate is 1.82% above the national average.
  • Between 2020Q2 and 2022Q2, homeownership in Ohio declined by 4.42%.
  • From 2005-2020, Ohio’s average homeownership rate was 68.9%.
  • Ohio homeownership in 2022Q2 was 2.76% lower than the state’s average homeownership rate from 2005 to 2020.
  • Since 2005, Ohio homeownership has declined by 8.59%.
  • The homeowner vacancy rate in Ohio is 0.7%, 12.5% below the national average.
  • Ohio’s rental vacancy rate is 5.4%, which is 3.6% below the national average.

Oklahoma’s Homeownership Rate

Oklahoma’s homeownership and rental vacancy rates are above average.

  • The homeownership rate in Oklahoma was 69.6% in 2022Q2.
  • Oklahoma homeownership was up 3.42% from the previous quarter (2022Q1) and up 2.50% YoY.
  • Oklahoma’s homeownership rate is 5.78% above the national average.
  • Between 2020Q2 and 2022Q2, homeownership in Oklahoma declined by 6.07%.
  • From 2005-2020, Oklahoma’s average homeownership rate was 69.6%.
  • Oklahoma homeownership in 2022Q2 was equal to the state’s average homeownership rate from 2005 to 2020.
  • Since 2005, Oklahoma homeownership has declined by 4.53%.
  • The homeowner vacancy rate in Oklahoma is 0.7%, which is 12.5% below the national average.
  • Oklahoma’s rental vacancy rate is 7.3%, 30.4% above the national average.

Oregon’s Homeownership Rate

Homeownership in Oregon is in long-term decline while vacancy rates are above average.

  • The homeownership rate in Oregon was 67.3% in 2022Q2.
  • Oregon homeownership was up 4.67% from the previous quarter (2022Q1) and 0.75% YoY.
  • Oregon’s homeownership rate is 2.28% below the national average.
  • Between 2020Q2 and 2022Q2, homeownership in Oregon increased by 2.44%.
  • From 2005-2020, Oregon’s average homeownership rate was 64.8%.
  • Oregon homeownership in 2022Q2 was 3.86% higher than the state’s average homeownership rate from 2005 to 2020.
  • Since 2005, Oregon homeownership has declined by 1.32%.
  • The homeowner vacancy rate in Oregon is 1.3%, which is 62.5% above the national average.
  • Oregon’s rental vacancy rate is 3.3%, which is 41.1% below the national average.

Pennsylvania’s Homeownership Rate

Homeownership rates in Pennsylvania are stable, while rental housing appears to be less popular.

  • The homeownership rate in Pennsylvania was 70.7% in 2022Q2.
  • Pennsylvania homeownership was up 2.02% from the previous quarter (2022Q1) and up 0.28% YoY.
  • Pennsylvania’s homeownership rate is 7.45% above the national average.
  • Between 2020Q2 and 2022Q2, homeownership in Pennsylvania declined by 0.28%.
  • From 2005-2020, Pennsylvania’s average homeownership rate was 71.0%.
  • Pennsylvania homeownership in 2022Q2 was 0.42% lower than the state’s average homeownership rate from 2005 to 2020.
  • Since 2005, Pennsylvania homeownership has declined by 3.55%.
  • The homeowner vacancy rate in Pennsylvania is 1.0%, which is 25.0% above the national average.
  • Pennsylvania’s rental vacancy rate is 4.3%, 23.2% above the national average.

Rhode Island’s Homeownership Rate

Homeownership statistics indicate a housing shortage in Rhode Island.

  • The homeownership rate in Rhode Island was 64.0% in 2022Q2.
  • Rhode Island homeownership was down 6.02% from the previous quarter (2022Q1) and up 7.56% YoY.
  • Rhode Island’s homeownership rate is 2.74% above the national average.
  • Between 2020Q2 and 2022Q2, homeownership in Rhode Island decreased by 0.47%.
  • From 2005-2020, Rhode Island’s average homeownership rate was 62.0%.
  • Rhode Island homeownership in 2022Q2 was 3.23% higher than the state’s average homeownership rate from 2005 to 2020.
  • Since 2005, Rhode Island homeownership has increased by 1.43%.
  • The homeowner vacancy rate in Rhode Island is 0.3%, which is 62.5% below the national average.
  • Rhode Island’s rental vacancy rate is 3.9%, 30.4% below the national average.

South Carolina’s Homeownership Rate

Homeownership in South Carolina is more attainable than in most other U.S. states.

  • The homeownership rate in South Carolina was 76.6% in 2022Q2.
  • South Carolina homeownership was up 0.39% from the previous quarter (2022Q1) and 6.09% YoY.
  • South Carolina’s homeownership rate is 16.4% above the national average.
  • Between 2020Q2 and 2022Q2, homeownership in South Carolina increased by 4.22%.
  • From 2005-2020, South Carolina’s average homeownership rate was 72.7%.
  • South Carolina homeownership in 2022Q2 was 5.36% higher than the state’s average homeownership rate from 2005 to 2020.
  • Since 2005, South Carolina homeownership has increased by 3.65%.
  • The homeowner vacancy rate in South Carolina is 0.6%, which is 25.0% below the national average.
  • South Carolina’s rental vacancy rate is 6.3%, which is 12.5% above the national average.

South Dakota’s Homeownership Rate

South Dakota’s homeownership rate is high, while vacancies are below average.

  • The homeownership rate in South Dakota was 69.3% in 2022Q2.
  • South Dakota homeownership was down 2.26% from the previous quarter (2022Q1) and was unchanged YoY.
  • South Dakota’s homeownership rate is 5.32% above the national average.
  • Between 2020Q2 and 2022Q2, homeownership in South Dakota decreased by 4.15%.
  • From 2005-2020, South Dakota’s average homeownership rate was 69.6%.
  • South Dakota homeownership in 2022Q2 was 0.43% higher than the state’s average homeownership rate from 2005 to 2020.
  • Since 2005, South Dakota homeownership has increased by 1.32%.
  • The homeowner vacancy rate in South Dakota is 0.5%, which is 37.5% below the national average.
  • South Dakota’s rental vacancy rate is 4.7%, 16.1% below the national average.

Tennessee’s Homeownership Rate

While homeownership in Tennessee is attainable, rental housing may be gaining popularity.

  • The homeownership rate in Tennessee was 67.8% in 2022Q2.
  • Tennessee homeownership was up 0.59% from the previous quarter (2022Q1) and down 0.88% YoY.
  • Tennessee’s homeownership rate is 3.04% above the national average.
  • Between 2020Q2 and 2022Q2, homeownership in Tennessee declined by 5.96%.
  • From 2005-2020, Tennessee’s average homeownership rate was 69.1%.
  • Tennessee homeownership in 2022Q2 was 1.88% lower than the state’s average homeownership rate from 2005 to 2020.
  • Since 2005, Tennessee homeownership has declined by 6.35%.
  • The homeowner vacancy rate in Tennessee is 0.7%, which is 12.5% below the national average.
  • Tennessee’s rental vacancy rate is 8.9%, which is 58.9% above the national average.

Home Vacancy rate as of     Q  on iPropertyManagement.com

Texas’ Homeownership Rate

The rate of homeownership appears both average and stable.

  • The homeownership rate in Texas was 63.4% in 2022Q2.
  • Texas homeownership was up 0.96% from the previous quarter (2022Q1) and down 0.78% YoY.
  • Texas’s homeownership rate is 3.65% below the national average.
  • Between 2020Q2 and 2022Q2, homeownership in Texas declined by 6.21%.
  • From 2005-2020, Texas’s average homeownership rate was 64.1%.
  • Texas homeownership in 2022Q2 was 1.09% lower than the state’s average homeownership rate from 2005 to 2020.
  • Since 2005, Texas homeownership has declined by 3.79%.
  • The homeowner vacancy rate in Texas is 0.5%, which is 37.5% below the national average.
  • Texas’s rental vacancy rate is 7.4%, 32.1% above the national average.

Utah’s Homeownership Rate

In Utah, homeownership is attainable, and the housing market appears stable over the long term.

  • The homeownership rate in Utah was 70.6% in 2022Q2.
  • Utah homeownership was up 0.43% from the previous quarter (2022Q1) and up 1.73% YoY.
  • Utah’s homeownership rate is 7.29% above the national average.
  • Between 2020Q2 and 2022Q2, homeownership in Utah declined by 5.11%.
  • From 2005-2020, Utah’s average homeownership rate was 72.3%.
  • Utah homeownership in 2022Q2 was 2.35% lower than the state’s average homeownership rate from 2005 to 2020.
  • Since 2005, Utah homeownership has declined by 4.47%.
  • The homeowner vacancy rate in Utah is 0.5%, which is 37.5% below the national average.
  • Utah’s rental vacancy rate is 4.7%, 16.1% below the national average.

Vermont’s Homeownership Rate

Vermont has a high rate of homeownership and a meager rental vacancy rate.

  • The homeownership rate in Vermont was 73.3% in 2022Q2.
  • Vermont homeownership was up 4.12% from the previous quarter (2022Q1) and down 1.87% YoY.
  • Vermont’s homeownership rate is 11.4% above the national average.
  • Between 2020Q2 and 2022Q2, homeownership in Vermont declined by 4.56%.
  • From 2005-2020, Vermont’s average homeownership rate was 72.9%.
  • Vermont homeownership in 2022Q2 was 0.55% higher than the state’s average homeownership rate from 2005 to 2020.
  • Since 2005, Vermont homeownership has declined by 1.21%.
  • The homeowner vacancy rate in Vermont is 0.5%, which is 37.5% below the national average.
  • Vermont’s rental vacancy rate is 2.4%, 57.1% below the national average.

Virginia’s Homeownership Rate

While the homeownership rate in Virginia is above average, it is on a long-term and significant downturn.

  • The homeownership rate in Virginia was 69.4% in 2022Q2.
  • Virginia homeownership was up 3.12% from the previous quarter (2022Q1) and down 1.42% YoY.
  • Virginia’s homeownership rate is 5.47% above the national average.
  • Between 2020Q2 and 2022Q2, homeownership in Virginia declined by 4.80%.
  • From 2005-2020, Virginia’s average homeownership rate was 68.8%.
  • Virginia homeownership in 2022Q2 was 0.87% higher than the state’s average homeownership rate from 2005 to 2020.
  • Since 2005, Virginia homeownership has declined by 2.53%.
  • The homeowner vacancy rate in Virginia is 1.0%, which is 25.0% above the national average.
  • Virginia’s rental vacancy rate is 4.5%, which is 19.6% below the national average.

Washington’s Homeownership Rate

In keeping with West Coast trends, homeownership in Washington is significantly declining; homeowner and rental vacancies are low.

  • The homeownership rate in Washington was 66.2% in 2022Q2.
  • Washington homeownership was up 4.09% from the previous quarter (2022Q1) and up 1.22% YoY.
  • Washington’s homeownership rate is 0.61% above the national average.
  • Between 2020Q2 and 2022Q2, homeownership in Washington declined by 0.75%.
  • From 2005-2020, Washington’s average homeownership rate was 64.5%.
  • Washington homeownership in 2022Q2 was 2.64% higher than the state’s average homeownership rate from 2005 to 2020.
  • Since 2005, Washington homeownership has declined by 2.07%.
  • The homeowner vacancy rate in Washington is 0.4%, 50.0% below the national average.
  • Washington’s rental vacancy rate is 4.0%, 28.6% below the national average.

West Virginia’s Homeownership Rate

West Virginia residents are more likely to own their own home than any other state, though homeowner and rental vacancy rates are above average.

  • The homeownership rate in West Virginia was 77.8% in 2022Q2.
  • West Virginia homeownership was down 2.26% from the previous quarter (2022Q1) and down 0.38% YoY.
  • West Virginia’s homeownership rate is 18.2% above the national average.
  • Between 2020Q2 and 2022Q2, homeownership in West Virginia decreased by 0.51%.
  • From 2005-2020, West Virginia’s average homeownership rate was 77.1%.
  • West Virginia homeownership in 2022Q2 was 0.91% higher than the state’s average homeownership rate from 2005 to 2020.
  • Since 2005, West Virginia homeownership has declined by 4.31%.
  • The homeowner vacancy rate in West Virginia is 1.0%, which is 25.0% above the national average.
  • West Virginia’s rental vacancy rate is 7.3%, 30.4% above the national average.

Wisconsin’s Homeownership Rate

Wisconsin’s homeownership rate is high, and vacancies are low.

  • The homeownership rate in Wisconsin was 69.3% in 2022Q2.
  • Wisconsin homeownership was down 1.42% from the previous quarter (2022Q1) and down 0.86% YoY.
  • Wisconsin’s homeownership rate is 5.32% above the national average.
  • Between 2020Q2 and 2022Q2, homeownership in Wisconsin decreased by 0.72%.
  • From 2005-2020, Wisconsin’s average homeownership rate was 68.8%.
  • Wisconsin homeownership in 2022Q2 was 0.73% higher than the state’s average homeownership rate from 2005 to 2020.
  • Since 2005, Wisconsin homeownership has declined by 2.53%.
  • The homeowner vacancy rate in Wisconsin is 0.4%, which is 50.0% below the national average.
  • Wisconsin’s rental vacancy rate is 3.2%, 42.9% below the national average.

Wyoming’s Homeownership Rate

Homeownership in Wyoming is more popular than rental housing; the vacancy rate is high.

  • The homeownership rate in Wyoming was 73.8% in 2022Q2.
  • Wyoming homeownership was up 1.79% from the previous quarter (2022Q1) and 2.64% YoY.
  • Wyoming’s homeownership rate is 12.2% above the national average.
  • Between 2020Q2 and 2022Q2, homeownership in Wyoming declined by 4.65%.
  • From 2005-2020, Wyoming’s average homeownership rate was 71.9%.
  • Wyoming homeownership in 2022Q2 was 2.64% higher than the state’s average homeownership rate from 2005 to 2020.
  • Wyoming’s homeownership rate has increased by 1.37% since 2005.
  • The homeowner vacancy rate in Wyoming is 0.6%, 25.0% above the national average.
  • Wyoming’s rental vacancy rate is 6.0%, which is 7.1% above the national average.

Rental vacany rate as of     Q  on iPropertyManagement.com

Analysis: What Drives Homeownership Rates Homeownership Rate

The prime factors that drive homeownership rates are housing costs and market stability.

States with large populations living in urban areas, such as Los Angeles, California, and New York City, typically see much lower homeownership rates.

Due to demand, it costs more to buy real estate in more densely populated areas; this may be why there are lower home prices and higher homeownership rates in rural states. States like Indiana, West Virginia, and Maine – where the average home price is below the national average, and the population density is generally lower – tend to have higher homeownership rates.

High property taxes, weak housing markets, natural disasters, crime, and severe housing problems (as defined by the U.S. Department of Housing and Urban Development) are all factors that contribute to the cost of housing.

Severe housing problems include inadequate kitchen and bathroom facilities, hazards, and overcrowding. Severe housing problems also include severely cost-burdened residents, where a disproportionate or unsustainable amount of their income goes towards housing.

In 2018, 17.0% of occupied housing was considered to have severe housing problems. The state with the most serious severe housing problems in 2018 was Hawaii, with 26.2%. North Dakota had the fewest percentage of housing with severe housing problems at 11.7%.

Thus, the driving forces behind homeownership can be mutually influential and perhaps even cyclical.

State Homeownership & Average Home Prices
State Homeownership Rate Average Home Price*
District of Columbia 44.7% $506,654
New York 53.6% $299,812
California 54.6% $391,609
Nevada 59.7% $179,627
Hawaii 58.3% $587,760
National Average 65.8% $214,594
Minnesota 75.3% $194,336
Indiana 72.1% $132,068
Maine 76.2% $209,697
New Hampshire 73.7% $254,399
West Virginia 77.8% $150,706

*Average home prices are based on data from the fiscal quarter ending in June 2010.

Homeownership rate change from      to      on iPropertyManagement.com

Sources

  1. United States Census Bureau (Census), Quarterly Residential Vacancies and Homeownership, First Quarter 2021
  2. Census, Quarterly Vacancy, and Homeownership Rates by State and MSA
  3. Census, New Residential Sales
  4. Federal Housing Finance Agency, House Price Index Datasets
  5. U.S. Department of Housing and Urban Development Office of Policy Development and Research, Consolidated Planning/CHAS Data