Homeownership Rates By State [2005-2022]

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

The homeownership rate has declined in 90% of states over the last 15 years.
West Virginia has the highest homeownership rate nationwide at 78.8%.
New York has the lowest homeownership rate among states at 54.0%.
Washington, D.C.’s homeownership rate is 40.4%.
The national average homeownership rate is 65.6%.

Jump to a state: AL | AK | AZ | AR | CA | CO | CT | DE | FL | GA | HI | ID | IL | IN | IA | KS | KY | LA | ME | MD | MA | MI | MN | MS | MO | MT | NE | NV | NH | NJ | NM | NY | NC | ND | OH | OK | OR | PA | RI | SC | SD | TN | TX | UT | VT | VA | WA | WV | WI | WY

National Map: Homeownership Rate by State

Homeownership Among States

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

Arkansas has seen the greatest long-term decline in homeownership rate, which decreases 0.62% annually on a 15-year scale.
Homeownership rates in California, Colorado, Oregon, and Washington decline more than 0.60% annually on a 15-year scale.
The District of Columbia saw the greatest Year-over-Year (YoY) decline in 2020’s fourth fiscal quarter; among states, Iowa and Rhode Island had the greatest rate decline.
Missouri and Wisconsin had the greatest increase in the rate of homeownership.
West Virginia easily has the highest rate of homeownership on long-term and short-term scales.
The District of Columbia and the State of New York have the lowest rates of homeownership.

National Map, Homeownership Rate Change from 2005 to 2021

Homeownership by State
State	1^st Quarter 2021	%Change Since 2005
Alabama	72.5%	-5.0%
Alaska	63.9%	-4.1%
Arizona	64.5%	-8.1%
Arkansas	63.7%	-9.9%
California	63.7%	-9.3%
Colorado	63.6%	-9.3%
Connecticut	66.1%	-8.4%
Delaware	72.7%	-4.1%
D.C.	40.4%	-8.2%
Florida	68.1%	-5.9%
Georgia	65.6%	-6.4%
Hawaii	60.2%	+2.4%
Idaho	70.2%	-2.2%
Illinois	67.8%	-4.4%
Indiana	74.7%	-0.4%
Iowa	70.4%	-4.0%
Kansas	68.9%	+0.7%
Kentucky	69.8%	-2.6%
Louisiana	70.1%	-4.1%
Maine	62.3%	+2.0%
Maryland	69.6%	-2.2%
Massachusetts	62.3%	-1.7%
Michigan	72.2%	-5.7%
Minnesota	73.4%	-2.9%
Mississippi	71.2%	-8.4%
Missouri	71.6%	+0.3%
Montana	68.3%	-0.4%
Nebraska	67.4%	-1.7%
Nevada	58.3%	-8.6%
New Hampshire	76.1%	+1.9%
New Jersey	65.2%	-7.0%
New Mexico	70.8%	-1.3%
New York	54.0%	-3.6%
North Carolina	66.3%	-7.4%
North Dakota	61.8%	-8.0%
Ohio	67.9%	-7.5%
Oklahoma	68.4%	-5.4%
Oregon	63.7%	-9.1%
Pennsylvania	71.3%	-3.3%
Rhode Island	62.9%	-1.4%
South Carolina	71.3%	-2.3%
South Dakota	71.8%	+3.8%
Tennessee	67.6%	-5.8%
Texas	64.8%	-1.8%
Utah	72.2%	-1.1%
Vermont	73.1%	-2.3%
Virginia	66.5%	-8.7%
Washington	62.4%	-9.8%
West Virginia	78.8%	-1.4%
Wisconsin	70.1%	-0.4%
Wyoming	71.1%	-4.0%

National Map: Homeownership Rate Change from 2019 to 2020, fourth fiscal quarters ending in Dec

Alabama

Homeownership in Alabama is above the national average but is on the decline; vacancy rates are high.

The homeownership rate was 72.5% in the first fiscal quarter of 2021.
That’s 10.5% above the national average.
Between 2019 and 2020, homeownership declined 1.89%.
The 15-year (2005-2020) average homeownership rate is 72.1%.
Homeownership is currently 0.6% higher than the 15-year average rate.
Since 2005, homeownership has declined 5.0%.
The homeowner vacancy rate is 1.2%; that’s 33% above the national average.
The rental vacancy rate is 12.3%; that’s 40% above the national average.

Alaska

Alaska’s homeownership rate is below the national average and in decline; vacancy rates are low.

The homeownership rate was 63.9% in the first fiscal quarter of 2021.
That’s 2.6% below the national average.
Between 2019 and 2020, homeownership increased 3.40%.
The 15-year (2005-2020) average homeownership rate is 64.4%.
Homeownership is currently 0.8% lower than the 15-year average rate.
Since 2005, homeownership has decreased 4.1%.
The homeowner vacancy rate is 0.8%; that’s 11% below the national average.
The rental vacancy rate is 6.1%; that’s 16% below the national average.

Arizona

Arizona’s homeownership rate is a little below average and in decline; vacancy rates are low.

The homeownership rate was 64.5% in the first fiscal quarter of 2021.
That’s 1.7% below the national average.
Between 2019 and 2020, homeownership decreased 3.7%.
The 15-year (2005-2020) average homeownership rate is 66.4%.
Homeownership is currently 2.8% lower than the 15-year average rate.
Since 2005, homeownership has decreased 8.1%.
The homeowner vacancy rate is 0.6%; that’s 33% below the national average.
The rental vacancy rate is 5.2%; that’s 24% below the national average.

Arkansas

Homeownership in Arkansas is below average and in significant decline, with the largest long-term decline nationwide.

The homeownership rate was 63.7% in the first fiscal quarter of 2021.
That’s 2.9% below the national average.
Between 2019 and 2020, homeownership decreased 2.7%.
The 15-year (2005-2020) average homeownership rate is 67.7%.
Homeownership is currently 6.0% lower than the 15-year average rate.
Since 2005, homeownership has decreased 9.9%.
The homeowner vacancy rate is 1.5%; that’s 67% above the national average.
The rental vacancy rate is 7.0%; that’s 3% above the national average.

California

Homeownership in California is well below the national average and declining as apartment rentals are popular.

The homeownership rate was 54.5% in the first fiscal quarter of 2021.
That’s 16.9% below the national average.
Between 2019 and 2020, homeownership decreased 1.98%.
The 15-year (2005-2020) average homeownership rate is 55.9%.
Homeownership is currently 2.5% lower than the 15-year average rate.
Since 2005, homeownership has decreased 9.3%.
The homeowner vacancy rate is 0.9%; that’s equal to the national average.
The rental vacancy rate is 4.8%; that’s 29% below the national average.

Colorado

The homeownership rate is below average and on a significant decline.

The homeownership rate was 63.6% in the first fiscal quarter of 2021.
That’s 3.0% below the national average.
Between 2019 and 2020, homeownership remained steady.
The 15-year (2005-2020) average homeownership rate is 66.0%.
Homeownership is currently 3.7% lower than the 15-year average rate.
Since 2005, homeownership has decreased 9.3%.
The homeowner vacancy rate is 1.4%; that’s 56% above the national average.
The rental vacancy rate is 5.0%; that’s 26% below the national average.

Connecticut

While the homeownership rate is a little above average, homeownership is in decline.

The homeownership rate was 66.1% in the first fiscal quarter of 2021.
That’s 0.8% above the national average.
Between 2019 and 2020, homeownership decreased 1.49%.
The 15-year (2005-2020) average homeownership rate is 68.2%.
Homeownership is currently 3.0% lower than the 15-year average rate.
Since 2005, homeownership has decreased 8.4%.
The homeowner vacancy rate is 1.1%; that’s 22% above the national average.
The rental vacancy rate is 6.1%; that’s 10% below the national average.

Delaware

Though the homeownership rate has declined in recent years, it remains significantly higher than the national average homeownership rate.

The homeownership rate was 72.7% in the first fiscal quarter of 2021.
That’s 10.8% above the national average.
Between 2019 and 2020, homeownership decreased 2.55%.
The 15-year (2005-2020) average homeownership rate is 74.5%.
Homeownership is currently 2.4% lower than the 15-year average rate.
Since 2005, homeownership has decreased 4.1%.
The homeowner vacancy rate is 0.8%; that’s 11% below the national average.
The rental vacancy rate is 3.0%; that’s 56% below the national average.

District of Columbia

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

The homeownership rate was 40.4% in the first fiscal quarter of 2021.
That’s 38.4% below the national average.
Between 2019 and 2020, homeownership decreased 6.70%.
The 15-year (2005-2020) average homeownership rate is 43.8%.
Homeownership is currently 7.7% lower than the 15-year average rate.
Since 2005, homeownership has decreased 8.2%.
The homeowner vacancy rate is 1.4%; that’s 56% above the national average.
The rental vacancy rate is 10.5%; that’s 54% above the national average.

Florida

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

The homeownership rate was 68.1% in the first fiscal quarter of 2021.
That’s 3.8% above the national average.
Between 2019 and 2020, homeownership increased 1.64%.
The 15-year (2005-2020) average homeownership rate is 67.9%.
Homeownership is currently 0.3% higher than the 15-year average rate.
Since 2005, homeownership has decreased 5.9%.
The homeowner vacancy rate is 1.2%; that’s 33% above the national average.
The rental vacancy rate is 7.4%; that’s 9% above the national average.

Georgia

On par with the national average, homeownership in Georgia has decreased in recent years.

The homeownership rate was 65.6% in the first fiscal quarter of 2021.
That’s equal to the national average.
Between 2019 and 2020, homeownership decreased 0.76%.
The 15-year (2005-2020) average homeownership rate is 65.7%.
Homeownership is currently 0.2% lower than the 15-year average rate.
Since 2005, homeownership has decreased 6.4%.
The homeowner vacancy rate is 1.3%; that’s 44% above the national average.
The rental vacancy rate is 6.3%; that’s 7% below the national average.

Hawaii

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

The homeownership rate was 60.2% in the first fiscal quarter of 2021.
That’s 8.2% below the national average.
Between 2019 and 2020, homeownership increased 2.5%.
The 15-year (2005-2020) average homeownership rate is 58.5%.
Homeownership is currently 2.8% higher than the 15-year average rate.
Since 2005, homeownership has increased 2.4%.
The homeowner vacancy rate is 1.3%; that’s 44% above the national average.
The rental vacancy rate is 9.7%; that’s 43% above the national average.

Idaho

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

The homeownership rate was 70.2% in the first fiscal quarter of 2021.
That’s 7.0% above the national average.
Between 2019 and 2020, homeownership increased 2.33%.
The 15-year (2005-2020) average homeownership rate is 71.7%.
Homeownership is currently 2.0% lower than the 15-year average rate.
Since 2005, homeownership has decreased 2.2%.
The homeowner vacancy rate is 0.4%; that’s 56% below the national average.
The rental vacancy rate is 5.2%; that’s 24% below the national average.

Illinois

The rate of homeownership is fairly steady with a high rate of vacancy.

The homeownership rate was 67.8% in the first fiscal quarter of 2021.
That’s 3.4% above the national average.
Between 2019 and 2020, homeownership decreased 2.02%.
The 15-year (2005-2020) average homeownership rate is 67.6%.
Homeownership is currently 0.4% higher than the 15-year average rate.
Since 2005, homeownership has decreased 4.4%.
The homeowner vacancy rate is 1.2%; that’s 33% above the national average.
The rental vacancy rate is 7.9%; that’s 16% above the national average.

Indiana

Homeownership is very attainable and much more popular than rental housing.

The homeownership rate was 74.7% in the first fiscal quarter of 2021.
That’s 13.9% above the national average.
Between 2019 and 2020, homeownership decreased 0.4%.
The 15-year (2005-2020) average homeownership rate is 71.1%.
Homeownership is currently 5.0% higher than the 15-year average rate.
Since 2005, homeownership has decreased 0.4%.
The homeowner vacancy rate is 1.0%; that’s 11% above the national average.
The rental vacancy rate is 9.9%; that’s 46% above the national average.

Iowa

While homeownership is above the national average, the rate of homeowners is in decline with vacancy rates on the rise.

The homeownership rate was 70.4% in the first fiscal quarter of 2021.
That’s 7.3% above the national average.
Between 2019 and 2020, homeownership decreased 6.13%.
The 15-year (2005-2020) average homeownership rate is 71.1%.
Homeownership is currently 1.0% lower than the 15-year average rate.
Since 2005, homeownership has decreased 4.0%.
The homeowner vacancy rate is 1.2%; that’s 33% above the national average.
The rental vacancy rate is 8.1%; that’s 19% above the national average.

Kansas

Homeownership is above average though vacancy rates are rather high.

The homeownership rate was 68.9% in the first fiscal quarter of 2021.
That’s 5.0% above the national average.
Between 2019 and 2020, homeownership increased 0.29%.
The 15-year (2005-2020) average homeownership rate is 67.5%.
Homeownership is currently 2.1% higher than the 15-year average rate.
Since 2005, homeownership has increased 0.7%.
The homeowner vacancy rate is 1.2%; that’s 33% above the national average.
The rental vacancy rate is 13.0%; that’s 91% above the national average.

Kentucky

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

The homeownership rate was 69.8% in the first fiscal quarter of 2021.
That’s 6.4% above the national average.
Between 2019 and 2020, homeownership decreased 1.27%.
The 15-year (2005-2020) average homeownership rate is 69.7%.
Homeownership is currently 0.1% higher than the 15-year average rate.
Since 2005, homeownership has decreased 2.6%.
The homeowner vacancy rate is 1.1%; that’s 22% above the national average.
The rental vacancy rate is 6.2%; that’s 9% below the national average.

Louisiana

Homeownership is well above the national average despite being in long-term decline.

The homeownership rate was 70.1% in the first fiscal quarter of 2021.
That’s 6.9% above the national average.
Between 2019 and 2020, homeownership increased 1.01%.
The 15-year (2005-2020) average homeownership rate is 68.7%.
Homeownership is currently 2.0% higher than the 15-year average rate.
Since 2005, homeownership has decreased 4.1%.
The homeowner vacancy rate is 1.3%; that’s 44% above the national average.
The rental vacancy rate is 9.4%; that’s 38% above the national average.

Maine

Maine has one of the highest rates of homeownership in the nation and very low vacancy rates.

The homeownership rate was 75.3% in the first fiscal quarter of 2021.
That’s 14.8% above the national average.
Between 2019 and 2020, homeownership decreased 1.31%.
The 15-year (2005-2020) average homeownership rate is 73.8%.
Homeownership is currently 2.0% higher than the 15-year average rate.
Since 2005, homeownership has increased 2.0%.
The homeowner vacancy rate is 0.2%; that’s 78% below the national average.
The rental vacancy rate is 5.4%; that’s 21% below the national average.

Maryland

Homeownership rates appear healthy and stable.

The homeownership rate was 69.6% in the first fiscal quarter of 2021.
That’s 6.1% above the national average.
Between 2019 and 2020, homeownership decreased 1.97%.
The 15-year (2005-2020) average homeownership rate is 68.7%.
Homeownership is currently 1.3% higher than the 15-year average rate.
Since 2005, homeownership has decreased 2.2%.
The homeowner vacancy rate is 0.9%; that’s equal to the national average.
The rental vacancy rate is 4.7%; that’s 31% below the national average.

Massachusetts

Homeownership appears less popular than renting.

The homeownership rate was 62.3% in the first fiscal quarter of 2021.
That’s 5.0% below the national average.
Between 2019 and 2020, homeownership increased 1.80%.
The 15-year (2005-2020) average homeownership rate is 63.3%.
Homeownership is currently 1.6% lower than the 15-year average rate.
Since 2005, homeownership has decreased 1.7%.
The homeowner vacancy rate is 0.4%; that’s 56% below the national average.
The rental vacancy rate is 6.6%; that’s 3% below the national average.

Michigan

Though in decline, the rate of homeownership is well above the national average.

The homeownership rate was 72.2% in the first fiscal quarter of 2021.
That’s 10.1% above the national average.
Between 2019 and 2020, homeownership decreased 1.5%.
The 15-year (2005-2020) average homeownership rate is 74.5%.
Homeownership is currently 3.0% lower than the 15-year average rate.
Since 2005, homeownership has decreased 5.7%.
The homeowner vacancy rate is 0.6%; that’s 33% below the national average.
The rental vacancy rate is 6.9%; that’s 1% above the national average.

Minnesota

Homeownership is more popular than rental housing.

The homeownership rate was 73.4% in the first fiscal quarter of 2021.
That’s 11.9% above the national average.
Between 2019 and 2020, homeownership decreased 1.34%.
The 15-year (2005-2020) average homeownership rate is 72.4%.
Homeownership is currently 1.3% higher than the 15-year average rate.
Since 2005, homeownership has decreased 2.9%.
The homeowner vacancy rate is 0.6%; that’s 33% below the national average.
The rental vacancy rate is 7.5%; that’s 10% above the national average.

Mississippi

Homeownership is in major decline though it remains higher than the national average rate.

The homeownership rate was 71.2% in the first fiscal quarter of 2021.
That’s 8.5% above the national average.
Between 2019 and 2020, homeownership decreased 1.52%.
The 15-year (2005-2020) average homeownership rate is 74.2%.
Homeownership is currently 4.0% lower than the 15-year average rate.
Since 2005, homeownership has decreased 8.4%.
The homeowner vacancy rate is 2.3%; that’s 156% above the national average.
The rental vacancy rate is 6.7%; that’s 1% below the national average.

Missouri

Missouri residents are fast vacating rentals and becoming homeowners.

The homeownership rate was 71.6% in the first fiscal quarter of 2021.
That’s 9.1% above the national average.
Between 2019 and 2020, homeownership increased 5.60%.
The 15-year (2005-2020) average homeownership rate is 70.5%.
Homeownership is currently 1.6% higher than the 15-year average rate.
Since 2005, homeownership has increased 0.3%.
The homeowner vacancy rate is 0.7%; that’s 22% below the national average.
The rental vacancy rate is 9.2%; that’s 35% above the national average.

Montana

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

The homeownership rate was 68.3% in the first fiscal quarter of 2021.
That’s 4.1% above the national average.
Between 2019 and 2020, homeownership increased 0.15%.
The 15-year (2005-2020) average homeownership rate is 68.4%.
Homeownership is currently 0.1% lower than the 15-year average rate.
Since 2005, homeownership has decreased 0.4%.
The homeowner vacancy rate is 0.7%; that’s 38% below the national average.
The rental vacancy rate is 4.2%; that’s 38% below the national average.

Nebraska

Homeownership is in decline though Nebraska still has a higher rate than the national average.

The homeownership rate was 67.4% in the first fiscal quarter of 2021.
That’s 2.9% above the national average.
Between 2019 and 2020, homeownership decreased 2.60%.
The 15-year (2005-2020) average homeownership rate is 68.0%.
Homeownership is currently 0.8% lower than the 15-year average rate.
Since 2005, homeownership has decreased 1.7%.
The homeowner vacancy rate is 0.6%; that’s % below the national average.
The rental vacancy rate is 5.2%; that’s 24% below the national average.

Nevada

More Nevada residents appear to favor rental housing over homeownership.

The homeownership rate was 58.3% in the first fiscal quarter of 2021.
That’s 11.1% below the national average.
Between 2019 and 2020, homeownership decreased 1.52%.
The 15-year (2005-2020) average homeownership rate is 59.1%.
Homeownership is currently 1.3% lower than the 15-year average rate.
Since 2005, homeownership has decreased 8.6%.
The homeowner vacancy rate is 0.9%; that’s equal to the national average.
The rental vacancy rate is 3.1%; that’s 54% below the national average.

New Hampshire

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

The homeownership rate was 76.1% in the first fiscal quarter of 2021.
That’s 16.0% above the national average.
Between 2019 and 2020, homeownership remained the same.
The 15-year (2005-2020) average homeownership rate is 73.7%.
Homeownership is currently 3.3% higher than the 15-year average rate.
Since 2005, homeownership has increased 1.9%.
The homeowner vacancy rate is 0.4%; that’s 56% below the national average.
The rental vacancy rate is 4.7%; that’s 31% below the national average.

New Jersey

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

The homeownership rate was 65.2% in the first fiscal quarter of 2021.
That’s 0.6% below the national average.
Between 2019 and 2020, homeownership increased 1.4%.
The 15-year (2005-2020) average homeownership rate is 65.8%.
Homeownership is currently 1.0% lower than the 15-year average rate.
Since 2005, homeownership has decreased 7.0%.
The homeowner vacancy rate is 0.6%; that’s 33% below the national average.
The rental vacancy rate is 5.4%; that’s 21% below the national average.

New Mexico

More residents appear to be leaving rentals in order to purchase homes.

The homeownership rate was 70.8% in the first fiscal quarter of 2021.
That’s 7.9% below the national average.
Between 2019 and 2020, homeownership increased 4.27%.
The 15-year (2005-2020) average homeownership rate is 69.2%.
Homeownership is currently 2.4% higher than the 15-year average rate.
Since 2005, homeownership has decreased 1.3%.
The homeowner vacancy rate is 0.5%; that’s 44% below the national average.
The rental vacancy rate is 9.2%; that’s 35% above the national average.

New York

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

The homeownership rate was 54.0% in the first fiscal quarter of 2021.
That’s 17.7% below the national average.
Between 2019 and 2020, homeownership increased 0.93%.
The 15-year (2005-2020) average homeownership rate is 53.6%.
Homeownership is currently 0.7% higher than the 15-year average rate.
Since 2005, homeownership has decreased 3.6%.
The homeowner vacancy rate is 0.7%; that’s 22% below the national average.
The rental vacancy rate is 7.4%; that’s 9% above the national average.

North Carolina

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

The homeownership rate was 66.3% in the first fiscal quarter of 2021.
That’s 10.7% above the national average.
Between 2019 and 2020, homeownership increased 0.15%.
The 15-year (2005-2020) average homeownership rate is 67.2%.
Homeownership is currently 1.3% lower than the 15-year average rate.
Since 2005, homeownership has decreased 7.4%.
The homeowner vacancy rate is 1.0%; that’s 11% above the national average.
The rental vacancy rate is 5.5%; that’s 19% below the national average.

North Dakota

Homeownership is in decline while the rental vacancy rate is more than double the national average.

The homeownership rate was 61.8% in the first fiscal quarter of 2021.
That’s 5.8% below the national average.
Between 2019 and 2020, homeownership decreased 3.29%.
The 15-year (2005-2020) average homeownership rate is 64.4%.
Homeownership is currently 4.1% lower than the 15-year average rate.
Since 2005, homeownership has decreased 8.0%.
The homeowner vacancy rate is 1.2%; that’s 33% above the national average.
The rental vacancy rate is 15.0%; that’s 121% above the national average.

Ohio

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

The homeownership rate was 67.9% in the first fiscal quarter of 2021.
That’s 3.5% above the national average.
Between 2019 and 2020, homeownership decreased 2.16%.
The 15-year (2005-2020) average homeownership rate is 69.2%.
Homeownership is currently 1.9% lower than the 15-year average rate.
Since 2005, homeownership has decreased 7.5%.
The homeowner vacancy rate is 0.5%; that’s 44% below the national average.
The rental vacancy rate is 7.5%; that’s 10% above the national average.

Oklahoma

Homeownership and vacancy rates in Oklahoma are about average. Housing market trends appear stable.

The homeownership rate was 68.4% in the first fiscal quarter of 2021.
That’s 4.3% above the national average.
Between 2019 and 2020, homeownership increased 0.88%.
The 15-year (2005-2020) average homeownership rate is 69.7%.
Homeownership is currently 1.8% lower than the 15-year average rate.
Since 2005, homeownership has decreased 5.4%.
The homeowner vacancy rate is 1.0%; that’s 11% above the national average.
The rental vacancy rate is 7.9%; that’s 16% above the national average.

Oregon

Homeownership is in decline as residents appear to favor rental housing.

The homeownership rate was 63.7% in the first fiscal quarter of 2021.
That’s 2.9% below the national average.
Between 2019 and 2020, homeownership increased 0.16%.
The 15-year (2005-2020) average homeownership rate is 64.5%.
Homeownership is currently 1.3% lower than the 15-year average rate.
Since 2005, homeownership has decreased 9.1%.
The homeowner vacancy rate is 0.4%; that’s 56% below the national average.
The rental vacancy rate is 4.1%; that’s 40% below the national average.

Pennsylvania

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

The homeownership rate was 71.3% in the first fiscal quarter of 2021.
That’s 5.7% above the national average.
Between 2019 and 2020, homeownership increased 1.13%.
The 15-year (2005-2020) average homeownership rate is 71.0%.
Homeownership is currently 0.4% higher than the 15-year average rate.
Since 2005, homeownership has decreased 3.3%.
The homeowner vacancy rate is 0.6%; that’s 33% below the national average.
The rental vacancy rate is 7.6%; that’s 12% above the national average.

Rhode Island

Rhode Island appears to have a housing shortage though homeownership may be decreasing in popularity.

The homeownership rate was 62.9% in the first fiscal quarter of 2021.
That’s 4.1% below the national average.
Between 2019 and 2020, homeownership decreased 6.12%.
The 15-year (2005-2020) average homeownership rate is 62.1%.
Homeownership is currently 1.3% higher than the 15-year average rate.
Since 2005, homeownership has decreased 1.4%.
The homeowner vacancy rate is 0.4%; that’s 56% below the national average.
The rental vacancy rate is 2.6%; that’s 62% below the national average.

South Carolina

Residents appear to favor homeownership over rental housing.

The homeownership rate was 71.3% in the first fiscal quarter of 2021.
That’s 8.7% above the national average.
Between 2019 and 2020, homeownership decreased 1.79%.
The 15-year (2005-2020) average homeownership rate is 71.9%.
Homeownership is currently 0.9% lower than the 15-year average rate.
Since 2005, homeownership has decreased 3.1%.
The homeowner vacancy rate is 0.9%; that’s equal to the national average.
The rental vacancy rate is 10.2%; that’s 50% above the national average.

South Dakota

Homeownership in South Dakota is very attainable.

The homeownership rate was 71.8% in the first fiscal quarter of 2021.
That’s 9.5% above the national average.
Between 2019 and 2020, homeownership decreased 0.69%.
The 15-year (2005-2020) average homeownership rate is 69.6%.
Homeownership is currently 3.2% higher than the 15-year average rate.
Since 2005, homeownership has increased 3.8%.
The homeowner vacancy rate is 0.6%; that’s 33% below the national average.
The rental vacancy rate is 8.9%; that’s 31% above the national average.

Tennessee

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

The homeownership rate was 67.6% in the first fiscal quarter of 2021.
That’s 3.0% above the national average.
Between 2019 and 2020, homeownership decreased 0.44%.
The 15-year (2005-2020) average homeownership rate is 69.1%.
Homeownership is currently 2.1% lower than the 15-year average rate.
Since 2005, homeownership has decreased 5.8%.
The homeowner vacancy rate is 0.9%; that’s equal to the national average.
The rental vacancy rate is 6.4%; that’s 6% below the national average.

Texas

The rate of homeownership appears both average and stable.

The homeownership rate was 64.8% in the first fiscal quarter of 2021.
That’s 1.2% below the national average.
Between 2019 and 2020, homeownership increased 0.31%.
The 15-year (2005-2020) average homeownership rate is 64.0%.
Homeownership is currently 1.2% higher than the 15-year average rate.
Since 2005, homeownership has decreased 1.8%.
The homeowner vacancy rate is 0.9%; that’s equal to the national average.
The rental vacancy rate is 9.5%; that’s 40% above the national average.

Utah

Homeownership is very attainable in Utah, and the housing market appears stable over the long-term.

The homeownership rate was 72.2% in the first fiscal quarter of 2021.
That’s 10.1% above the national average.
Between 2019 and 2020, homeownership increased 4.34%.
The 15-year (2005-2020) average homeownership rate is 72.3%.
Homeownership is currently 0.2% lower than the 15-year average rate.
Since 2005, homeownership has decreased 1.1%.
The homeowner vacancy rate is 0.8%; that’s 11% below the national average.
The rental vacancy rate is 4.2%; that’s 38% below the national average.

Vermont

Vermont has one of the highest rates of homeownership in the nation as well as one of the highest rental vacancy rates.

The homeownership rate was 73.1% in the first fiscal quarter of 2021.
That’s 11.4% above the national average.
Between 2019 and 2020, homeownership increased 0.14%.
The 15-year (2005-2020) average homeownership rate is 73.1%.
Homeownership is currently equal to the 15-year average rate.
Since 2005, homeownership has decreased 2.3%.
The homeowner vacancy rate is 0.5%; that’s 44% below the national average.
The rental vacancy rate is 1.8%; that’s 74% below the national average.

Virginia

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

The homeownership rate was 66.5% in the first fiscal quarter of 2021.
That’s 1.4% above the national average.
Between 2019 and 2020, homeownership decreased 3.62%.
The 15-year (2005-2020) average homeownership rate is 69.0%.
Homeownership is currently 3.7% lower than the 15-year average rate.
Since 2005, homeownership has decreased 8.7%.
The homeowner vacancy rate is 0.7%; that’s 22% below the national average.
The rental vacancy rate is 4.9%; that’s 28% below the national average.

Washington

In keeping with West Coast trends, homeownership in Washington is in major decline and less popular than rental housing.

The homeownership rate was 62.4% in the first fiscal quarter of 2021.
That’s 4.9% below the national average.
Between 2019 and 2020, homeownership decreased 0.32%.
The 15-year (2005-2020) average homeownership rate is 64.2%.
Homeownership is currently 2.7% lower than the 15-year average rate.
Since 2005, homeownership has decreased 9.8%.
The homeowner vacancy rate is 0.8%; that’s 11% below the national average.
The rental vacancy rate is 4.1%; that’s 40% below the national average.

West Virginia

West Virginia residents are more likely to own their own home than residents of any other state.

The homeownership rate was 78.8% in the first fiscal quarter of 2021.
That’s 20.1% above the national average.
Between 2019 and 2020, homeownership increased 0.38%.
The 15-year (2005-2020) average homeownership rate is 77.7%.
Homeownership is currently 1.4% higher than the 15-year average rate.
Since 2005, homeownership has decreased 1.4%.
The homeowner vacancy rate is 1.0%; that’s 11% below the national average.
The rental vacancy rate is 5.5%; that’s 19% below the national average.

Wisconsin

The homeownership rate was 70.1% in the first fiscal quarter of 2021.
That’s 6.9% above the national average.
Between 2019 and 2020, homeownership increased 4.94%.
The 15-year (2005-2020) average homeownership rate is 69.5%.
Homeownership is currently 0.8% higher than the 15-year average rate.
Since 2005, homeownership has decreased 0.4%.
The homeowner vacancy rate is 0.2%; that’s 78% below the national average.
The rental vacancy rate is 4.5%; that’s 34% below the national average.

Wyoming

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

The homeownership rate was 71.1% in the first fiscal quarter of 2021.
That’s 8.4% above the national average.
Between 2019 and 2020, homeownership decreased 0.42%.
The 15-year (2005-2020) average homeownership rate is 72.1%.
Homeownership is currently 1.4% lower than the 15-year average rate.
Since 2005, homeownership has decreased 4.0%.
The homeowner vacancy rate is 0.8%; that’s 11% below the national average.
The rental vacancy rate is 9.9%; that’s 46% above the national average.

Homeowner vacancy rate on iPropertyManagement.com

Analysis: What Drives Homeownership Rates

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

States that have large concentrations of their population living in urban areas, such as in Los Angeles, California and New York City, typically see much lower rates of homeownership.

It costs more to buy real estate in more densely populated areas due to demand; this may be why rural states enjoy lower home prices and higher rates of homeownership. 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 can include lack of adequate kitchen and bathroom facilities, hazards, and overcrowding. Severe housing problems also include residents who are severely cost-burdened, where a disproportionate or unsustainable amount of their income goes towards housing.

In 2018, 18.4% of occupied housing was considered to have severe housing problems of some sort. The state with the highest level of severe housing problems in 2018 was Hawaii with 27.6%. North Dakota had the fewest percentage of housing with severe housing problems at 11.2%.

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	40.4%	$506,654
New York	54.0%	$299,812
California	54.5%	$391,609
Nevada	58.3%	$179,627
Hawaii	60.2%	$587,760
National Average	65.6%	$214,594
Minnesota	73.4%	$194,336
Indiana	74.7%	$132,068
Maine	75.3%	$209,697
New Hampshire	76.1%	$254,399
West Virginia	78.8%	$150,706

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

Homeownership Rate by State