Homeownership Rate By Year

Report Highlights. Current homeownership rates indicate an historically volatile market with homeownership no more attainable than it was 40 years ago.

  • Today’s homeownership rate is 65.4%.
  • 2019 saw a 3.1% annual rise in homeownership, the steepest increase since the 1940s.
  • The nationwide homeownership rate hit an all-time high of 69.2% in 2004’s first financial quarter.
  • Homeownership rates hit their all-time lows in the wake of the Great Depression: 43.6% in 1940.

Line Graph: Homeownership Rate by Year from 1964 (63.1%) to 2021 (65.4%) with a peak in 2004 (69.0%)

Homeownership Rates by Year
Year Homeownership* YoY Change
2021† 65.5% -1.7%
2020 66.6% +3.2%
2019 64.6% +0.2%
2018 64.4% +0.9%
2017 63.9% +0.7%
2016 63.4% -0.4%
2015 63.7% -1.3%
2014 64.5% -1.0%
2013 65.1% -0.5%
2012 65.5% -1.1%
2011 66.2% -1.0%
2010 66.9% -0.8%
2009 67.4% -0.7%
2008 67.8% -0.5%
2007 68.2% -0.9%
2006 68.8% -0.1%
2005 68.9% -0.2%
2004 69.0% +1.1%
2003 68.3% +0.5%
2002 67.9% +0.1%
2001 67.8% +0.7%
2000 67.5% +0.9%
1999 66.8% +0.8%
1998 66.3% +0.9%
1997 65.7% +0.5%
1996 65.4% +1.0%
1995 64.8% +1.2%
1994 64.0% 0.0%
1993 64.0% -0.2%
1992 64.2% +0.2%
1991 64.1% +0.2%
1990 64.0% +0.1%
1989 63.9% +0.2%
1988 63.8% -0.3%
1987 64.0% +0.3%
1986 63.8% -0.2%
1985 63.9% -0.9%
1984 64.5% -0.3%
1983 64.7% -0.2%
1982 64.8% -1.0%
1981 65.4% -0.2%
1980 65.6% +0.5%
1979 65.2% +0.4%
1978 65.0% +0.2%
1977 64.8% +0.1%
1976 64.7% +0.2%
1975 64.6% -0.1%
1974 64.7% +0.2%
1973 64.5% +0.2%
1972 64.4% +0.2%
1971 64.3% +0.1%
1970 64.2% -0.2%
1969 64.3% +0.7%
1968 63.9% +0.4%
1967 63.6% +0.3%
1966 63.5% +0.7%
1965 63.0% -0.1%

*The average of quarterly rates.
The average of the first three quarters.

21st Century Homeownership Rates

The national housing market has been extremely volatile in the last 20 years compared to the latter half of the 20th century.

  • The annual nationwide homeownership rate hit an all-time high in 2004 at 69.0%.
  • In 2016, the homeownership rate hit its lowest point (63.4%) since 1965 (63.0%).
  • Homeownership declined at an annual rate of 0.7% from 2004 to 2016 (for a total decline of 8.1%).
  • Subsequent homeownership rates increased at an annual rate of 1.3% from 2016 to 2020 (for a total increase of 5.0%).

Line and Bar Graph: Homeownership Annual Rate of Change vs. Homeowner Vacancy Rate from 1965 to 2021

Historical Homeownership: Select Years 1890 – 1960
Year Homeownership Rate % of Current Rate (65.4%)
1890 47.8% 73.1%
1900 46.7% 71.4%
1910 45.9% 70.2%
1920 45.6% 69.7%
1930 47.8% 73.1%
1940 43.6% 66.7%
1945 53.2% 81.3%
1950 55.0% 84.1%
1956 60.4% 92.4%
1960 61.9% 94.6%

Historical Homeownership Rates

Historical homeownership rates indicate that while homeownership is more attainable than it was 100 years ago, growth has since stagnated.

  • In 1890, less than half of Americans were homeowners.
  • At the end of the Great Depression, there were two-thirds (2/3) as many homeowners as there were in 2021’s third fiscal quarter.
  • From 1890 to 1960, homeownership increased 29.5%.
  • During this period, the annual rate of increase in homeownership was 0.4%.
  • From 1930 to 1940, homeownership declined 8.8% for a 0.9% annual rate of decline.
  • From 1940 to 1945, homeownership increased 22.0% for an annual rate of 4.4%.

Line Graphs: Homeownership Among Age Groups (1994 - 2021)

Homeownership Among Age Groups by Year

Homeownership has declined among all age groups, most notably among 45- to 54-year-olds.

  • Since 2000, homeownership among 45- to 54-year-olds has declined 12.5%.
  • Homeownership has declined 9.4% among 35- to 44-year-olds.
  • Among 55- to 64-year-olds, homeownership has declined 6.8%.
  • Among those 65 years and older, homeownership has declined 1.1%.
  • Homeownership among those under 35 years old has declined 6.6%.
Homeownership Rates Among Age Groups by Year
Year Homeownership Under 35* 35 to 44 45 to 54
2021† 38.1% 61.5% 69.6%
2020 39.2% 62.7% 71.1%
2019 36.7% 60.1% 70.1%
2018 36.3% 60.1% 70.1%
2017 35.3% 59.0% 69.3%
2016 34.6% 58.6% 69.3%
2015 35.0% 58.5% 70.0%
2014 35.9% 59.7% 70.7%
2013 36.8% 60.6% 71.2%
2012 36.7% 61.5% 71.7%
2011 37.8% 63.5% 72.7%
2010 39.1% 65.0% 73.5%
2009 39.8% 66.2% 74.4%
2008 41.0% 66.2% 74.4%
2007 41.7% 67.8% 75.4%
2006 42.6% 68.9% 76.2%
2005 43.1% 69.3% 76.6%
2004 43.1% 69.2% 77.2%
2003 41.5% 68.4% 76.4%
2002 42.0% 68.6% 76.5%
2001 41.3% 68.3% 76.8%
2000 40.8% 67.9% 76.5%
1999 39.7% 67.2% 76.0%
1998 39.4% 66.9% 75.7%
1997 38.7% 66.1% 75.8%
1996 39.1% 65.5% 75.6%
1995 38.7% 65.2% 75.2%
1994 37.4% 64.5% 75.2%

*The average of quarterly rates.
The average of the first three quarters.

Line Graph: Homeownership by Income by Year, Above Median Income and Below Median Income data points

Homeownership by Income by Year

Households with a below-median income appear to experience greater market volatility with fewer long-term gains than above-median income households.

  • Since 1994, homeownership among those with an income above the median has increased 0.8%.
  • Homeownership among this income bracket peaked at 84.6% in 2004’s fourth financial quarter.
  • Since then, homeownership has declined 6.5% among this income bracket.
  • Also since 1994, homeownership among those with an income below the median has increased 7.0%.
  • Homeownership among this income bracket peaked at 55.2% in 2020’s second financial quarter.
  • Since then, homeownership has declined 6.6% among this income bracket.
Homeownership by Income
Year Family Income Above Median* Family Income Below Median
2021† 79.1% 51.8%
2020 79.7% 53.5%
2019 78.4% 50.7%
2018 78.4% 50.4%
2017 78.1% 49.7%
2016 77.9% 48.9%
2015 78.4% 48.9%
2014 79.4% 49.5%
2013 80.8% 50.3%
2012 80.4% 50.5%
2011 81.2% 51.2%
2010 81.9% 51.9%
2009 82.1% 51.1%
2008 83.1% 51.6%
2007 83.4% 51.7%
2006 84.2% 52.7%
2005 84.1% 52.9%
2004 84.1% 52.5%
2003 83.6% 51.8%
2002 82.6% 52.1%
2001 82.0% 52.2%
2000 81.6% 51.6%
1999 81.5% 51.2%
1998 80.9% 50.6%
1997 80.5% 50.0%
1996 80.2% 49.5%
1995 79.5% 48.8%
1994 78.5% 48.4%

*The average of quarterly rates.
The average of the first three quarters.

Sources

  1. U.S. Census Bureau, Housing Vacancies and Homeownership
  2. The US homeownership rate has lost ground compared with other developed countries
  3. US Historical Homeownership Rate: 1890 to Present
  4. Why buying a house today is so much harder than in 1950