Homeowners vs Renters Statistics [2025 ]: by Year + Demographic

Last Updated: March 10, 2025

Highlights. After a decade of decline, homeownership is up to 65.7% as of the end of 2024, up 4.45% from its lowest point in recent years (62.9% in 2016).

The nationwide homeownership rate in the fourth fiscal quarter (Q4) of 2024 rate was down 5.06% compared to 2004 Q4.
86.285 million out of a total 131.33 million households own their homes.
45.047 million households (34.3%) rent their homes.
Second homes represent 1.25% of owner-occupied housing units; 10.2% of all housing units are vacant.
After adjusting for inflation, home sales prices increased 102.8% faster than rent prices over a 54-year period.

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Renter

Homeowner vs. Renter Average Monthly Costs
Cost^*	Homeowner
Insurance	$142	$31
Electricity	$172	$125
Gas	$102	$60
Trash	$48	$43
Water	$73	$61
HOA or Condo Association	$243	$241
Taxes	$368	NA
Mortgage or Rent	$1,618	$1,460

^*Among households that pay such costs.

Homeowners vs. Renters

While there are more homeowners than renters, the gap between them is shrinking as housing costs continue to climb.

For every U.S. household that rents their home, there are 1.92 homeowners.
The average household gross income among homeowners ($183,303) is equivalent to 2.47 times the average income among renting households ($74,074).
Homeowning U.S. households average 2.61 residents; the average renting household has 2.25 residents.
The median monthly mortgage payment nationwide is $1,275; the median gross rent is $1,406 per month.
Monthly costs of homeownership (excluding mortgages) are a median $629; in homes with mortgages, the median monthly cost to owners is $1,904.
Renters are 178.7% more likely than homeowners to be behind on housing payments (rent vs. mortgage payments).
22.5% of military veteran households rent; 77.5% own their homes.

Line graph: Rent & Home Sales Price Compound Annual Growth Rate according to the U.S. Census Bureau

Housing Affordability Among Homeowners vs. Renters

Renters are more likely to face housing cost burdens as defined by federal legislation.

The average homeowner’s monthly debt-to-income^† ratio (DTI) is 12.5%.
Among renting households, the average monthly rent-to-income^† ratio is 22.8%.
23.2% of homeowners spend more than 30% of their household net income on mortgage payments and other costs of living.
10.7% of homeowners spend over 50% of household net income on housing costs.
49.6% of renters spend over 30% of their household net income on rent and utilities.
26.7% of renters spend more than 50% of their net income on rent and utilities.
The national median rent increased 58.5% between 1970 and 2024 after adjusting for inflation (1,194% before inflation).
Adjusted for inflation, the median home sales price increased 118.7% between 1970 and 2024; the median price increased 1,685% without inflation.

^†Gross income (before taxes).

Line graph: Rent & Home Sales Price Compound Annual Growth Rate according to the U.S. Census Bureau

Homeowner vs. Renter Household Debt

The average mortgage and home equity loan debt is $223,333.
Among homeowners (including those with no mortgage or home equity loan debt), the average total debt is $229,268.
The average renter has $38,511 in debt, representing.
Compared to renters, the average household debt among homeowners is 5.95 times higher.

Stacked bar graph: Homeowners vs. Renters Since 2005 according to the U.S. Census Bureau

Homeowner vs. Renter Household Wealth

Homeownership statistically reduces wealth inequality to a significant degree.

Among renters, the average household net worth is $162,444.
The average homeowning household’s net worth ($1.626 million) is equivalent to 10 times the average renting household’s net worth.
Excluding home equity^‡, household wealth among homeowners is 8.3 times what it is among renters.

^‡Home equity refers to the value of a primary residence (excluding second homes) less mortgage and/or home equity loan debt.

Double line graph: Average Annual Vacancy Rates Since 2004, including owner and renter vacancy, according to the U.S. Census Bureau

Housing Vacancy Among Homeowners vs. Renters

Vacant does not necessarily mean available. Just 48.8% of vacancies are identified as available for rent or for sale.

Homeowner vacancy is 1.1% as of January 2025; rental vacancy is 6.9%.
The average homeowner vacancy rate increased 22.2% from 2023 Q4 to 2024 Q4.
From 2020 Q4 to 2024 Q4, the average homeowner vacancy rate increased 10.0%.
The average rental vacancy rate increased 4.55% from 2023Q4 to 2024Q4.
From 2020 Q4 to 2024 Q4, the average annual rental vacancy rate increased 6.15%.
Homeowner vacancy declined 37.5% from 2000 Q4 to 2020 Q4; during the same period, renter vacancy declined 16.7%.
7.17% of U.S. housing units are vacant; among them, 41.9% are available for rent and 9.62% are for sale only^◊.
24.7% of vacant units have been vacant for two years or more; among them, 13.7% are available for rent and 5.21% are for sale only.
3.23% of vacant units have never been occupied; 11.3% are for rent and 7.42% are for sale.
91.7% of all housing units are occupied year-round; 34.8% are rented and 65.2% belong to homeowners.

^◊A small number of homes for rent are also for sale.

Line graph: Average Annual Homeownership Rate Since 1964 according to the U.S. Census Bureau

Homeowner vs. Renter Demographics

While renting households average a lower number of residents, they also have a lower rate of single occupancy.

18.517 million renters are single occupant, representing 39.9% of renting households (and 46.8% of single households).
12.093 million renters and 51.057 million homeowners are married with both spouses present.
4.990 million renters are (live-in) partnered while 4.241 million homeowners are partnered.
24.054 million homeowning households include children under the age of 18 years; 12.494 million renting households include children.
1.832 million homeowning families are single-parent households; 3.276 million renting families are single-parent.
12.395 million veterans are homeowners; 3.207 million veterans rent their homes.

National map: Homeownership Rate by State in U.S. Census Bureau

Homeowners vs. Renters by State

The larger a local population, the more its residents tend to rent their homes.

Residents of Maine are most likely to own their homes with a 74.4% homeownership rate.
District of Columbia has the highest median monthly mortgage payment at $2,229.
California has the highest median gross rent at $1,992.
Homeowning households are largest in Texas with an average of 3.04 residents per home.
California has the largest renting households with an average size of 2.62 residents.

Homeowners vs. Renters by State
State	Total Households	Owners:Renters Ratio
Alabama	2,051,545	2.3:1
Alaska	276,852	2:1
Arizona	2,907,014	2.1:1
Arkansas	1,232,871	2:1
California	13,699,816	1.3:1
Colorado	2,428,261	1.9:1
Connecticut	1,442,969	1.9:1
Delaware	412,048	2.8:1
District of Columbia	334,673	0.6:1
Florida	8,966,402	2.1:1
Georgia	4,150,138	1.9:1
Hawaii	493,898	1.7:1
Idaho	733,244	2.6:1
Illinois	5,071,288	2.1:1
Indiana	2,754,881	2.4:1
Iowa	1,337,243	2.5:1
Kansas	1,188,340	2:1
Kentucky	1,853,603	2.2:1
Louisiana	1,833,915	2.1:1
Maine	616,085	2.9:1
Maryland	2,384,715	2.1:1
Massachusetts	2,800,984	1.7:1
Michigan	4,107,809	2.8:1
Minnesota	2,344,432	2.6:1
Mississippi	1,166,617	2.5:1
Missouri	2,556,271	2.2:1
Montana	472,867	2.2:1
Nebraska	813,864	2:1
Nevada	1,224,685	1.5:1
New Hampshire	569,493	2.6:1
New Jersey	3,538,457	1.8:1
New Mexico	856,580	2.3:1
New York	7,809,267	1.2:1
North Carolina	4,392,669	2:1
North Dakota	338,059	1.8:1
Ohio	4,917,309	2:1
Oklahoma	1,589,105	1.9:1
Oregon	1,752,050	1.7:1
Pennsylvania	5,324,209	2.3:1
Rhode Island	443,980	1.8:1
South Carolina	2,177,733	2.6:1
South Dakota	378,559	2.3:1
Tennessee	2,889,226	2.1:1
Texas	11,260,645	1.7:1
Utah	1,167,591	2.3:1
Vermont	279,612	2.7:1
Virginia	3,402,670	2.1:1
Washington	3,101,265	1.8:1
West Virginia	743,644	2.8:1
Wisconsin	2,495,539	2.1:1
Wyoming	247,368	2.5:1
Puerto Rico	1,277,486	2.2:1

Alabama Homeowner vs. Renter Statistics

Compared to the average American, Alabama households are 7.49% more likely to own their homes and have much lower monthly mortgage payment.

2.051 million total households live in Alabama.
1.439 million or 70.1% of households in Alabama own their homes.
612,789 or 29.9% of households in Alabama rent their homes.
Monthly mortgage payments are a median $934.
Monthly costs of homeownership (excluding mortgages) are a median $438; in homes with mortgages, the median monthly cost to owners is $1,372.
The median gross rent in Alabama is $982 per month.
Homeowning households in Alabama have an average of 2.52 residents; renting households average 2.19 residents.
The homeowner vacancy rate in Alabama is 1.0%.
Alabama’s rental vacancy is 5.5%.

National map: Homeowner Vacancy Rate by State according to the U.S. Census Bureau

Alaska Homeowner vs. Renter Statistics

Alaska households are 1.63% more likely to own their homes compared to the average American and pay 15.84% more for the median mortgage payment.

276,852 total households live in Alaska.
183,575 households in Alaska (66.3%) own their homes.
93,277 households in Alaska (33.7%) rent their homes.
The median monthly mortgage payment is $1,477.
Monthly costs of homeownership (excluding mortgages) are a median $659 ; in homes with mortgages, the median monthly cost to owners is $2,136.
The median gross rent in Alaska is $1,373 per month.
Homeowning households in Alaska have an average of 2.70 residents; renting households average 2.23 residents.
The homeowner vacancy rate in Alaska is 0.7%.
Alaska’s rental vacancy is 6.3%.

National map: Rental Vacancy Rate by State according to the U.S. Census Bureau

Arizona Homeowner vs. Renter Statistics

Arizona households are 3.75% more likely to own their homes compared to the average American and pay roughly the same amount in monthly mortgage payments.

2.907 million total households live in Arizona.
1.968 million households in Arizona (67.7%) own their homes.
939,310 households in Arizona (32.3%) rent their homes.
The median monthly mortgage payment is $1,252.
Monthly costs of homeownership (excluding mortgages) are a median $499; in homes with mortgages, the median monthly cost to owners is $1,751.
The median gross rent in Arizona is $1,608 per month.
Homeowning households in Arizona have an average of 2.57 residents; renting households average 2.34 residents.
The homeowner vacancy rate in Arizona is 0.9%.
Arizona’s rental vacancy is 7.2%.

Arkansas Homeowner vs. Renter Statistics

Arkansas households are 1.45% more likely to own their homes compared to the average American, and the median monthly mortgage payment is 30.9% lower than the national median.

1.233 million total households live in Arkansas.
816,038 households in Arkansas (66.2%) own their homes.
416,833 households in Arkansas (33.8%) rent their homes.
The median monthly mortgage payment is $881.
Monthly costs of homeownership (excluding mortgages) are a median $434; in homes with mortgages, the median monthly cost to owners is $1,315.
The median gross rent in Arkansas is $933 per month.
Homeowning households in Arkansas have an average of 2.57 residents; renting households average 2.34 residents.
The homeowner vacancy rate in Arkansas is 1.2%.
Arkansas’s rental vacancy is 6.1%.

California Homeowner vs. Renter Statistics

California households are 14.3% less likely to own their homes compared to the average American, and the median monthly mortgage payment is 57.6% higher than the nationwide median.

13.70 million total households live in California.
7.658 million households in California (55.9%) own their homes.
6.041 million households in California (44.1%) rent their homes.
The median monthly mortgage payment is $2,010.
Monthly costs of homeownership (excluding mortgages) are a median $834; in homes with mortgages, the median monthly cost to owners is $2,844.
The median gross rent in California is $1,992 per month.
Homeowning households in California have an average of 2.90 residents; renting households average 2.62 residents.
The homeowner vacancy rate in California is 0.7%.
California’s rental vacancy is 4.3%.

Colorado Homeowner vs. Renter Statistics

Colorado households are 0.63% more likely to own their homes compared to the national average, and the median monthly mortgage payment is 26.5% higher.

2.428 million total households live in Colorado.
1.594 million households in Colorado (65.7%) own their homes.
834,070 households in Colorado (34.3%) rent their homes.
The median monthly mortgage payment is $1,613.
Monthly costs of homeownership (excluding mortgages) are a median $676; in homes with mortgages, the median monthly cost to owners is $2,289.
The median gross rent in Colorado is $1,771 per month.
Homeowning households in Colorado have an average of 2.51 residents; renting households average 2.10 residents.
The homeowner vacancy rate in Colorado is 0.8%.
Colorado’s rental vacancy is 4.8%.

Connecticut Homeowner vs. Renter Statistics

Compared to the nationwide median, Connecticut households are 0.71% more likely to own their homes and have 3.22% higher monthly mortgage payments.

1.443 million total households live in Connecticut.
948,121 households in Connecticut (65.7%) own their homes.
494,848 households in Connecticut (34.3%) rent their homes.
The median monthly mortgage payment is $1,316.
Monthly costs of homeownership (excluding mortgages) are a median $1,038; in homes with mortgages, the median monthly cost to owners is $2,354.
The median gross rent in Connecticut is $1,463 per month.
Homeowning households in Connecticut have an average of 2.61 residents; renting households average 2.11 residents.
The homeowner vacancy rate in Connecticut is 0.8%.
Connecticut’s rental vacancy is 4.9%.

Delaware Homeowner vs. Renter Statistics

Compared to the nationwide median, Delaware households are 12.8% more likely to own their homes and have 5.49% lower monthly mortgage payments.

412,048 total households live in Delaware.
303,131 households in Delaware (73.6%) own their homes.
108,917 households in Delaware (26.4%) rent their homes.
The median monthly mortgage payment is $1,205.
Monthly costs of homeownership (excluding mortgages) are a median $542; in homes with mortgages, the median monthly cost to owners is $1,747.
The median gross rent in Delaware is $1,358 per month.
Homeowning households in Delaware have an average of 2.53 residents; renting households average 2.21 residents.
The homeowner vacancy rate in Delaware is 0.8%.
Delaware’s rental vacancy is 5.3%.

District of Columbia Homeowner vs. Renter Statistics

Compared to the nationwide median, D.C. households are 40.0% less likely to own their homes and have 74.8% higher monthly mortgage payments.

334,673 total households live in D.C.
130,934 households in D.C. (39.1%) own their homes.
203,739 households in D.C. (60.9%) rent their homes.
The median monthly mortgage payment is $2,229.
Monthly costs of homeownership (excluding mortgages) are a median $772; in homes with mortgages, the median monthly cost to owners is $3,001.
The median gross rent in D.C. is $1,904 per month.
Homeowning households in D.C. have an average of 2.21 residents; renting households average 1.73 residents.
The homeowner vacancy rate in D.C. is 0.8%.
D.C.’s rental vacancy is 4.7%.

Florida Homeowner vs. Renter Statistics

Compared to the nationwide median, Florida households are 4.33% more likely to own their homes and have 0.47% lower monthly mortgage payments.

8.966 million total households live in Florida.
6.103 million households in Florida (68.1%) own their homes.
2.863 million households in Florida (31.9%) rent their homes.
The median monthly mortgage payment is $1,269.
Monthly costs of homeownership (excluding mortgages) are a median $681; in homes with mortgages, the median monthly cost to owners is $1,950.
The median gross rent in Florida is $1,719 per month.
Homeowning households in Florida have an average of 2.51 residents; renting households average 2.38 residents.
The homeowner vacancy rate in Florida is 1.2%.
Florida’s rental vacancy is 7.6%.

Georgia Homeowner vs. Renter Statistics

Compared to the nationwide median, Georgia households are 1.28% more likely to own their homes and have 5.65% lower monthly mortgage payments.

4.150 million total households live in Georgia.
2.742 million households in Georgia (66.1%) own their homes.
1.408 million households in Georgia (33.9%) rent their homes.
The median monthly mortgage payment is $1,203.
Monthly costs of homeownership (excluding mortgages) are a median $530; in homes with mortgages, the median monthly cost to owners is $1,733.
The median gross rent in Georgia is $1,400 per month.
Homeowning households in Georgia have an average of 2.71 residents; renting households average 2.37 residents.
The homeowner vacancy rate in Georgia is 0.8%.
Georgia’s rental vacancy is 7.4%.

Hawaii Homeowner vs. Renter Statistics

Compared to the nationwide median, Hawaii households are 4.29% less likely to own their homes and have 61.9% higher monthly mortgage payments.

493,898 total households live in Hawaii.
308,421 households in Hawaii (62.4%) own their homes.
185,477 households in Hawaii (37.6%) rent their homes.
The median monthly mortgage payment is $2,064.
Monthly costs of homeownership (excluding mortgages) are a median $675; in homes with mortgages, the median monthly cost to owners is $2,739.
The median gross rent in Hawaii is $1,940 per month.
Homeowning households in Hawaii have an average of 2.98 residents; renting households average 2.57 residents.
The homeowner vacancy rate in Hawaii is 0.8%.
Hawaii’s rental vacancy is 8.6%.

Idaho Homeowner vs. Renter Statistics

Compared to the nationwide median, Idaho households are 11.1% more likely to own their homes and have 6.04% lower monthly mortgage payments.

733,244 total households live in Idaho.
531,631 households in Idaho (72.5%) own their homes.
201,613 households in Idaho (27.5%) rent their homes.
The median monthly mortgage payment is $1,198.
Monthly costs of homeownership (excluding mortgages) are a median $488; in homes with mortgages, the median monthly cost to owners is $1,686.
The median gross rent in Idaho is $1,256 per month.
Homeowning households in Idaho have an average of 2.71 residents; renting households average 2.36 residents.
The homeowner vacancy rate in Idaho is 0.7%.
Idaho’s rental vacancy is 4.1%.

Illinois Homeowner vs. Renter Statistics

Compared to the nationwide median, Illinois households are 3.27% more likely to own their homes and have 10.5% lower monthly mortgage payments.

5.071 million total households live in Illinois.
3.417 million households in Illinois (67.4%) own their homes.
1.655 million households in Illinois (32.6%) rent their homes.
The median monthly mortgage payment is $1,141.
Monthly costs of homeownership (excluding mortgages) are a median $764; in homes with mortgages, the median monthly cost to owners is $1,905.
The median gross rent in Illinois is $1,238 per month.
Homeowning households in Illinois have an average of 2.59 residents; renting households average 2.08 residents.
The homeowner vacancy rate in Illinois is 0.8%.
Illinois’s rental vacancy is 4.1%.

Indiana Homeowner vs. Renter Statistics

Compared to the nationwide median, Indiana households are 7.96% more likely to own their homes and have 33.5% lower monthly mortgage payments.

2.755 million total households live in Indiana.
1.940 million households in Indiana (70.4%) own their homes.
814,438 households in Indiana (29.6%) rent their homes.
The median monthly mortgage payment is $848.
Monthly costs of homeownership (excluding mortgages) are a median $511; in homes with mortgages, the median monthly cost to owners is $1,359.
The median gross rent in Indiana is $1,044 per month.
Homeowning households in Indiana have an average of 2.57 residents; renting households average 2.09 residents.
The homeowner vacancy rate in Indiana is 0.8%.
Indiana’s rental vacancy is 5.7%.

Iowa Homeowner vs. Renter Statistics

Compared to the nationwide median, Iowa households are 10.0% more likely to own their homes and have 31.6% lower monthly mortgage payments.

1.337 million total households live in Iowa.
959,743 households in Iowa (71.8%) own their homes.
337,500 households in Iowa (28.2%) rent their homes.
The median monthly mortgage payment is $872.
Monthly costs of homeownership (excluding mortgages) are a median $611; in homes with mortgages, the median monthly cost to owners is $1,483.
The median gross rent in Iowa is $949 per month.
Homeowning households in Iowa have an average of 2.46 residents; renting households average 1.97 residents.
The homeowner vacancy rate in Iowa is 2.46%.
Iowa’s rental vacancy is 1.97%.

Kansas Homeowner vs. Renter Statistics

Compared to the nationwide median, Kansas households are 2.20% more likely to own their homes and have 22.0% lower monthly mortgage payments.

1.188 million total households live in Kansas.
792,366 households in Kansas (66.7%) own their homes.
395,974 households in Kansas (33.3%) rent their homes.
The median monthly mortgage payment is $995.
Monthly costs of homeownership (excluding mortgages) are a median $640; in homes with mortgages, the median monthly cost to owners is $1,635.
The median gross rent in Kansas is $1,036 per month.
Homeowning households in Kansas have an average of 2.57 residents; renting households average 2.07 residents.
The homeowner vacancy rate in Kansas is 0.9%.
Kansas’s rental vacancy is 5.3%.

Kentucky Homeowner vs. Renter Statistics

Compared to the nationwide median, Kentucky households are 5.39% more likely to own their homes and have 27.1% lower monthly mortgage payments.

1.854 million total households live in Kentucky.
1.275 million households in Kentucky (68.8%) own their homes.
579,082 households in Kentucky (31.2%) rent their homes.
The median monthly mortgage payment is $929.
Monthly costs of homeownership (excluding mortgages) are a median $457; in homes with mortgages, the median monthly cost to owners is $1,386.
The median gross rent in Kentucky is $929 per month.
Homeowning households in Kentucky have an average of 2.48 residents; renting households average 2.15 residents.
The homeowner vacancy rate in Kentucky is 2.48%.
Kentucky’s rental vacancy is 2.15%.

Louisiana Homeowner vs. Renter Statistics

Compared to the nationwide median, Louisiana households are 4.32% more likely to own their homes and have 12.9% lower monthly mortgage payments.

1.834 million total households live in Louisiana.
1.248 million households in Louisiana (68.1%) own their homes.
585,692 households in Louisiana (31.9%) rent their homes.
The median monthly mortgage payment is $1,111.
Monthly costs of homeownership (excluding mortgages) are a median $453; in homes with mortgages, the median monthly cost to owners is $1,564.
The median gross rent in Louisiana is $1,020 per month.
Homeowning households in Louisiana have an average of 2.51 residents; renting households average 2.24 residents.
The homeowner vacancy rate in Louisiana is 1.1%.
Louisiana’s rental vacancy is 8.0%.

Maine Homeowner vs. Renter Statistics

Compared to the nationwide median, Maine households are 14.1% more likely to own their homes and have 18.7% lower monthly mortgage payments.

616,085 total households live in Maine.
458,444 households in Maine (74.4%) own their homes.
157,641 households in Maine (25.6%) rent their homes.
The median monthly mortgage payment is $1,037.
Monthly costs of homeownership (excluding mortgages) are a median $651; in homes with mortgages, the median monthly cost to owners is $1,688.
The median gross rent in Maine is $1,189 per month.
Homeowning households in Maine have an average of 2.30 residents; renting households average 1.91 residents.
The homeowner vacancy rate in Maine is 0.6%.
Maine’s rental vacancy is 4.2%.

Maryland Homeowner vs. Renter Statistics

Compared to the nationwide median, Maryland households are 4.09% more likely to own their homes and have 17.1% higher monthly mortgage payments.

2.385 million total households live in Maryland.
1.619 million households in Maryland (67.9%) own their homes.
765,237 households in Maryland (32.1%) rent their homes.
The median monthly mortgage payment is $1,493.
Monthly costs of homeownership (excluding mortgages) are a median $731; in homes with mortgages, the median monthly cost to owners is $2,224.
The median gross rent in Maryland is $1,651 per month.
Homeowning households in Maryland have an average of 2.67 residents; renting households average 2.27 residents.
The homeowner vacancy rate in Maryland is 0.5%.
Maryland’s rental vacancy is 5.1%.

Massachusetts Homeowner vs. Renter Statistics

Compared to the nationwide median, Massachusetts households are 4.54% less likely to own their homes and have 26.0% higher monthly mortgage payments.

2.801 million total households live in Massachusetts.
1.744 million households in Massachusetts (62.3%) own their homes.
1.057 million households in Massachusetts (37.7%) rent their homes.
The median monthly mortgage payment is $1,607.
Monthly costs of homeownership (excluding mortgages) are a median $1,022; in homes with mortgages, the median monthly cost to owners is $2,629.
The median gross rent in Massachusetts is $1,757 per month.
Homeowning households in Massachusetts have an average of 2.60 residents; renting households average 2.10 residents.
The homeowner vacancy rate in Massachusetts is 0.5%.
Massachusetts’s rental vacancy is 3.8%.

Michigan Homeowner vs. Renter Statistics

Compared to the nationwide median, Michigan households are 13.0% more likely to own their homes and have 28.2% lower monthly mortgage payments.

4.108 million total households live in Michigan.
3.029 million households in Michigan (73.7%) own their homes.
1.079 million households in Michigan (26.3%) rent their homes.
The median monthly mortgage payment is $916.
Monthly costs of homeownership (excluding mortgages) are a median $593; in homes with mortgages, the median monthly cost to owners is $1,509.
The median gross rent in Michigan is $1,101 per month.
Homeowning households in Michigan have an average of 2.52 residents; renting households average 2.04 residents.
The homeowner vacancy rate in Michigan is 0.7%.
Michigan’s rental vacancy is 5.7%.

Minnesota Homeowner vs. Renter Statistics

Compared to the nationwide median, Minnesota households are 10.3% more likely to own their homes and have 6.67% lower monthly mortgage payments.

2.334 million total households live in Minnesota.
1.688 million households in Minnesota (72.0%) own their homes.
656,737 households in Minnesota (28.0%) rent their homes.
The median monthly mortgage payment is $1,190.
Monthly costs of homeownership (excluding mortgages) are a median $689; in homes with mortgages, the median monthly cost to owners is $1,879.
The median gross rent in Minnesota is $1,264 per month.
Homeowning households in Minnesota have an average of 2.56 residents; renting households average 1.95 residents.
The homeowner vacancy rate in Minnesota is 2.56%.
Minnesota’s rental vacancy is 1.95%.

Mississippi Homeowner vs. Renter Statistics

Compared to the nationwide median, Mississippi households are 8.94% more likely to own their homes and have 30.2% lower monthly mortgage payments.

1.167 million total households live in Mississippi.
829,160 households in Mississippi (71.1%) own their homes.
337,457 households in Mississippi (28.9%) rent their homes.
The median monthly mortgage payment is $890.
Monthly costs of homeownership (excluding mortgages) are a median $431; in homes with mortgages, the median monthly cost to owners is $1,321.
The median gross rent in Mississippi is $898 per month.
Homeowning households in Mississippi have an average of 2.54 residents; renting households average 2.20 residents.
The homeowner vacancy rate in Mississippi is 0.5%.
Mississippi’s rental vacancy is 8.1%.

Missouri Homeowner vs. Renter Statistics

Compared to the nationwide median, Missouri households are 5.41% more likely to own their homes and have 27.1% lower monthly mortgage payments.

2.556 million total households live in Missouri.
1.758 million households in Missouri (68.8%) own their homes.
798,230 households in Missouri (31.2%) rent their homes.
The median monthly mortgage payment is $929.
Monthly costs of homeownership (excluding mortgages) are a median $532; in homes with mortgages, the median monthly cost to owners is $1,461.
The median gross rent in Missouri is $1,019 per month.
Homeowning households in Missouri have an average of 2.51 residents; renting households average 2.04 residents.
The homeowner vacancy rate in Missouri is 0.7%.
Missouri’s rental vacancy is 4.7%.

Montana Homeowner vs. Renter Statistics

Compared to the nationwide median, Montana households are 6.10% more likely to own their homes and have 7.22% lower monthly mortgage payments.

472,867 total households live in Montana.
327,344 households in Montana (69.2%) own their homes.
145,523 households in Montana (30.8%) rent their homes.
The median monthly mortgage payment is $1,183.
Monthly costs of homeownership (excluding mortgages) are a median $571; in homes with mortgages, the median monthly cost to owners is $1,754.
The median gross rent in Montana is $1,083 per month.
Homeowning households in Montana have an average of 2.47 residents; renting households average 2.04 residents.
The homeowner vacancy rate in Montana is 0.8%.
Montana’s rental vacancy is 4.3%.

Nebraska Homeowner vs. Renter Statistics

Compared to the nationwide median, Nebraska households are 1.61% more likely to own their homes and have 18.7% lower monthly mortgage payments.

813,864 total households live in Nebraska.
539,532 households in Nebraska (66.3%) own their homes.
274,332 households in Nebraska (33.7%) rent their homes.
The median monthly mortgage payment is $1,037.
Monthly costs of homeownership (excluding mortgages) are a median $681; in homes with mortgages, the median monthly cost to owners is $1,718.
The median gross rent in Nebraska is $1,042 per month.
Homeowning households in Nebraska have an average of 2.57 residents; renting households average 1.99 residents.
The homeowner vacancy rate in Nebraska is 0.5%.
Nebraska’s rental vacancy is 3.6%.

Nevada Homeowner vs. Renter Statistics

Compared to the nationwide median, Nevada households are 7.36% less likely to own their homes and have 3.61% higher monthly mortgage payments.

1.225 million total households live in Nevada.
740,187 households in Nevada (60.4%) own their homes.
484,498 households in Nevada (39.6%) rent their homes.
The median monthly mortgage payment is $1,321.
Monthly costs of homeownership (excluding mortgages) are a median $555; in homes with mortgages, the median monthly cost to owners is $1,876.
The median gross rent in Nevada is $1,622 per month.
Homeowning households in Nevada have an average of 2.65 residents; renting households average 2.47 residents.
The homeowner vacancy rate in Nevada is 1.1%.
Nevada’s rental vacancy is 6.8%.

New Hampshire Homeowner vs. Renter Statistics

Compared to the nationwide median, New Hampshire households are 10.9% more likely to own their homes and have 2.51% higher monthly mortgage payments.

569,493 total households live in New Hampshire.
412,231 households in New Hampshire (72.4%) own their homes.
157,262 households in New Hampshire (27.6%) rent their homes.
The median monthly mortgage payment is $1,307.
Monthly costs of homeownership (excluding mortgages) are a median $996; in homes with mortgages, the median monthly cost to owners is $2,303.
The median gross rent in New Hampshire is $1,517 per month.
Homeowning households in New Hampshire have an average of 2.55 residents; renting households average 1.98 residents.
The homeowner vacancy rate in New Hampshire is 0.3%.
New Hampshire’s rental vacancy is 4.7%.

New Jersey Homeowner vs. Renter Statistics

Compared to the nationwide median, New Jersey households are 2.30% less likely to own their homes and have 18.8% higher monthly mortgage payments.

3.538 million total households live in New Jersey.
2.255 million households in New Jersey (63.7%) own their homes.
1.283 million households in New Jersey (36.3%) rent their homes.
The median monthly mortgage payment is $1,515.
Monthly costs of homeownership (excluding mortgages) are a median $1,161; in homes with mortgages, the median monthly cost to owners is $2,676.
The median gross rent in New Jersey is $1,667 per month.
Homeowning households in New Jersey have an average of 2.72 residents; renting households average 2.32 residents.
The homeowner vacancy rate in New Jersey is 0.5%.
New Jersey’s rental vacancy is 3.0%.

New Mexico Homeowner vs. Renter Statistics

Compared to the nationwide median, New Mexico households are 6.18% more likely to own their homes and have 18.0% lower monthly mortgage payments.

856,580 total households live in New Mexico.
593,413 households in New Mexico (69.3%) own their homes.
263,167 households in New Mexico (30.7%) rent their homes.
The median monthly mortgage payment is $1,045.
Monthly costs of homeownership (excluding mortgages) are a median $455; in homes with mortgages, the median monthly cost to owners is $1,500.
The median gross rent in New Mexico is $1,084 per month.
Homeowning households in New Mexico have an average of 2.51 residents; renting households average 2.21 residents.
The homeowner vacancy rate in New Mexico is 0.8%.
New Mexico’s rental vacancy is 5.0%.

New York Homeowner vs. Renter Statistics

Compared to the nationwide median, New York households are 17.1% less likely to own their homes and have 18.2% higher monthly mortgage payments.

7.809 million total households live in New York.
4.222 million households in New York (54.1%) own their homes.
3.588 million households in New York (45.9%) rent their homes.
The median monthly mortgage payment is $1,507.
Monthly costs of homeownership (excluding mortgages) are a median $923; in homes with mortgages, the median monthly cost to owners is $2,430.
The median gross rent in New York is $1,561 per month.
Homeowning households in New York have an average of 2.62 residents; renting households average 2.19 residents.
The homeowner vacancy rate in New York is 1.1%.
New York’s rental vacancy is 3.4%.

North Carolina Homeowner vs. Renter Statistics

Compared to the nationwide median, North Carolina households are 1.66% more likely to own their homes and have 13.3% lower monthly mortgage payments.

4.393 million total households live in North Carolina.
2.913 million households in North Carolina (66.3%) own their homes.
1.479 million households in North Carolina (33.7%) rent their homes.
The median monthly mortgage payment is $1,106.
Monthly costs of homeownership (excluding mortgages) are a median $472; in homes with mortgages, the median monthly cost to owners is $1,578.
The median gross rent in North Carolina is $1,245 per month.
Homeowning households in North Carolina have an average of 2.51 residents; renting households average 2.19 residents.
The homeowner vacancy rate in North Carolina is 1.2%.
North Carolina’s rental vacancy is 6.4%.

North Dakota Homeowner vs. Renter Statistics

Compared to the nationwide median, North Dakota households are 2.36% less likely to own their homes and have 13.9% lower monthly mortgage payments.

338,059 total households live in North Dakota.
215,363 households in North Dakota (63.7%) own their homes.
122,696 households in North Dakota (36.3%) rent their homes.
The median monthly mortgage payment is $1,098.
Monthly costs of homeownership (excluding mortgages) are a median $589; in homes with mortgages, the median monthly cost to owners is $1,687.
The median gross rent in North Dakota is $916 per month.
Homeowning households in North Dakota have an average of 2.49 residents; renting households average 1.78 residents.
The homeowner vacancy rate in North Dakota is 1.0%.
North Dakota’s rental vacancy is 7.6%.

Ohio Homeowner vs. Renter Statistics

Compared to the nationwide median, Ohio households are 2.87% more likely to own their homes and have 30.3% lower monthly mortgage payments.

4.917 million total households live in Ohio.
3.300 million households in Ohio (67.1%) own their homes.
1.617 million households in Ohio (32.9%) rent their homes.
The median monthly mortgage payment is $889.
Monthly costs of homeownership (excluding mortgages) are a median $579; in homes with mortgages, the median monthly cost to owners is $1,468.
The median gross rent in Ohio is $1,014 per month.
Homeowning households in Ohio have an average of 2.47 residents; renting households average 2.06 residents.
The homeowner vacancy rate in Ohio is 0.7%.
Ohio’s rental vacancy is 4.7%.

Oklahoma Homeowner vs. Renter Statistics

Compared to the nationwide median, Oklahoma households are 0.25% less likely to own their homes and have 22.1% lower monthly mortgage payments.

1.589 million total households live in Oklahoma.
1.034 million households in Oklahoma (65.1%) own their homes.
554,952 households in Oklahoma (34.9%) rent their homes.
The median monthly mortgage payment is $993.
Monthly costs of homeownership (excluding mortgages) are a median $534; in homes with mortgages, the median monthly cost to owners is $1,527.
The median gross rent in Oklahoma is $1,020 per month.
Homeowning households in Oklahoma have an average of 2.61 residents; renting households average 2.22 residents.
The homeowner vacancy rate in Oklahoma is 1.2%.
Oklahoma’s rental vacancy is 5.8%.

Oregon Homeowner vs. Renter Statistics

Compared to the nationwide median, Oregon households are 2.76% less likely to own their homes and have 11.8% higher monthly mortgage payments.

1.752 million total households live in Oregon.
1.112 million households in Oregon (63.4%) own their homes.
640,453 households in Oregon (36.6%) rent their homes.
The median monthly mortgage payment is $1,425.
Monthly costs of homeownership (excluding mortgages) are a median $664; in homes with mortgages, the median monthly cost to owners is $2,089.
The median gross rent in Oregon is $1,481 per month.
Homeowning households in Oregon have an average of 2.51 residents; renting households average 2.11 residents.
The homeowner vacancy rate in Oregon is 0.6%.
Oregon’s rental vacancy is 4.6%.

Pennsylvania Homeowner vs. Renter Statistics

Compared to the nationwide median, Pennsylvania households are 6.45% more likely to own their homes and have 17.0% lower monthly mortgage payments.

5.324 million total households live in Pennsylvania.
3.698 million households in Pennsylvania (69.5%) own their homes.
1.626 million households in Pennsylvania (30.5%) rent their homes.
The median monthly mortgage payment is $1,058.
Monthly costs of homeownership (excluding mortgages) are a median $640; in homes with mortgages, the median monthly cost to owners is $1,698.
The median gross rent in Pennsylvania is $1,197 per month.
Homeowning households in Pennsylvania have an average of 2.50 residents; renting households average 2.02 residents.
The homeowner vacancy rate in Pennsylvania is 0.8%.
Pennsylvania’s rental vacancy is 4.9%.

Puerto Rico Homeowner vs. Renter Statistics

Compared to the nationwide median, Puerto Rico households are 4.85% more likely to own their homes and have 43.3% lower monthly mortgage payments.

1.277 million total households live in Puerto Rico.
873,896 households in Puerto Rico (68.4%) own their homes.
403,590 households in Puerto Rico (31.4%) rent their homes.
The median monthly mortgage payment is $723.
Monthly costs of homeownership (excluding mortgages) are a median $176; in homes with mortgages, the median monthly cost to owners is $899.
The median gross rent in Puerto Rico is $557 per month.
Homeowning households in Puerto Rico have an average of 2.55 residents; renting households average 2.33 residents.
The homeowner vacancy rate in Puerto Rico is 0.9%.
Puerto Rico’s rental vacancy is 4.6%.

Rhode Island Homeowner vs. Renter Statistics

Compared to the nationwide median, Rhode Island households are 1.96% less likely to own their homes and have 3.69% higher monthly mortgage payments.

443,980 total households live in Rhode Island.
283,990 households in Rhode Island (64.0%) own their homes.
159,990 households in Rhode Island (36.0%) rent their homes.
The median monthly mortgage payment is $1,322.
Monthly costs of homeownership (excluding mortgages) are a median $853; in homes with mortgages, the median monthly cost to owners is $2,175.
The median gross rent in Rhode Island is $1,365 per month.
Homeowning households in Rhode Island have an average of 2.57 residents; renting households average 2.02 residents.
The homeowner vacancy rate in Rhode Island is 0.7%.
Rhode Island’s rental vacancy is 4.5%.

South Carolina Homeowner vs. Renter Statistics

Compared to the nationwide median, South Carolina households are 11.0% more likely to own their homes and have 17.5% lower monthly mortgage payments.

2.178 million total households live in South Carolina.
1.577 million households in South Carolina (72.4%) own their homes.
600,375 households in South Carolina (27.6%) rent their homes.
The median monthly mortgage payment is $1,052.
Monthly costs of homeownership (excluding mortgages) are a median $425; in homes with mortgages, the median monthly cost to owners is $1,477.
The median gross rent in South Carolina is $1,170 per month.
Homeowning households in South Carolina have an average of 2.48 residents; renting households average 2.21 residents.
The homeowner vacancy rate in South Carolina is 0.9%.
South Carolina’s rental vacancy is 8.3%.

South Dakota Homeowner vs. Renter Statistics

Compared to the nationwide median, South Dakota households are 6.34% more likely to own their homes and have 19.9% lower monthly mortgage payments.

378,559 total households live in South Dakota.
262,639 households in South Dakota (69.4%) own their homes.
115,920 households in South Dakota (30.6%) rent their homes.
The median monthly mortgage payment is $1,021.
Monthly costs of homeownership (excluding mortgages) are a median $604; in homes with mortgages, the median monthly cost to owners is $1,625.
The median gross rent in South Dakota is $921 per month.
Homeowning households in South Dakota have an average of 2.50 residents; renting households average 1.99 residents.
The homeowner vacancy rate in South Dakota is 0.4%.
South Dakota’s rental vacancy is 5.5%.

Tennessee Homeowner vs. Renter Statistics

Compared to the nationwide median, Tennessee households are 3.09% more likely to own their homes and have 17.0% lower monthly mortgage payments.

2.889 million total households live in Tennessee.
1.943 million households in Tennessee (67.3%) own their homes.
945,944 households in Tennessee (32.7%) rent their homes.
The median monthly mortgage payment is $1,058.
Monthly costs of homeownership (excluding mortgages) are a median $445; in homes with mortgages, the median monthly cost to owners is $1,503.
The median gross rent in Tennessee is $1,214 per month.
Homeowning households in Tennessee have an average of 2.50 residents; renting households average 2.24 residents.
The homeowner vacancy rate in Tennessee is 0.9%.
Tennessee’s rental vacancy is 5.9%.

Texas Homeowner vs. Renter Statistics

Compared to the nationwide median, Texas households are 4.06% less likely to own their homes and have 9.02% higher monthly mortgage payments.

11.261 million total households live in Texas.
7.048 million households in Texas (62.6%) own their homes.
4.212 million households in Texas (37.4%) rent their homes.
The median monthly mortgage payment is $1,390.
Monthly costs of homeownership (excluding mortgages) are a median $681; in homes with mortgages, the median monthly cost to owners is $2,071.
The median gross rent in Texas is $1,413 per month.
Homeowning households in Texas have an average of 2.85 residents; renting households average 2.33 residents.
The homeowner vacancy rate in Texas is 1.1%.
Texas’s rental vacancy is 8.0%.

Utah Homeowner vs. Renter Statistics

Compared to the nationwide median, Utah households are 7.38% more likely to own their homes and have 11.1% higher monthly mortgage payments.

1.168 million total households live in Utah.
818,033 households in Utah (70.1%) own their homes.
349,558 households in Utah (29.9%) rent their homes.
The median monthly mortgage payment is $1,417.
Monthly costs of homeownership (excluding mortgages) are a median $561; in homes with mortgages, the median monthly cost to owners is $1,978.
The median gross rent in Utah is $1,551 per month.
Homeowning households in Utah have an average of 3.04 residents; renting households average 2.50 residents.
The homeowner vacancy rate in Utah is 0.4%.
Utah’s rental vacancy is 5.5%.

Vermont Homeowner vs. Renter Statistics

Compared to the nationwide median, Vermont households are 12.2% more likely to own their homes and have 19.1% lower monthly mortgage payments.

279,612 total households live in Vermont.
204,730 households in Vermont (73.2%) own their homes.
74,882 households in Vermont (26.8%) rent their homes.
The median monthly mortgage payment is $1,031.
Monthly costs of homeownership (excluding mortgages) are a median $796; in homes with mortgages, the median monthly cost to owners is $1,827.
The median gross rent in Vermont is $1,202 per month.
Homeowning households in Vermont have an average of 2.39 residents; renting households average 1.79 residents.
The homeowner vacancy rate in Vermont is 0.5%.
Vermont’s rental vacancy is 3.5%.

Virginia Homeowner vs. Renter Statistics

Compared to the nationwide median, Virginia households are 14.2% more likely to own their homes and have 3.92% higher monthly mortgage payments.

3.403 million total households live in Virginia.
2.307 million households in Virginia (67.8%) own their homes.
1.096 million households in Virginia (32.2%) rent their homes.
The median monthly mortgage payment is $1,456.
Monthly costs of homeownership (excluding mortgages) are a median $576; in homes with mortgages, the median monthly cost to owners is $2,032.
The median gross rent in Virginia is $1,567 per month.
Homeowning households in Virginia have an average of 2.60 residents; renting households average 2.26 residents.
The homeowner vacancy rate in Virginia is 0.6%.
Virginia’s rental vacancy is 4.9%.

Washington Homeowner vs. Renter Statistics

Compared to the nationwide median, Washington households are 2.36% less likely to own their homes and have 28.5% higher monthly mortgage payments.

3.101 million total households live in Washington.
1.976 million households in Washington (63.7%) own their homes.
1.126 million households in Washington (36.3%) rent their homes.
The median monthly mortgage payment is $1,639.
Monthly costs of homeownership (excluding mortgages) are a median $757; in homes with mortgages, the median monthly cost to owners is $2,396.
The median gross rent in Washington is $1,731 per month.
Homeowning households in Washington have an average of 2.61 residents; renting households average 2.22 residents.
The homeowner vacancy rate in Washington is 0.8%.
Washington’s rental vacancy is 5.7%.

West Virginia Homeowner vs. Renter Statistics

Compared to the nationwide median, West Virginia households are 12.7% more likely to own their homes and have 36.2% lower monthly mortgage payments.

743,644 total households live in West Virginia.
546,870 households in West Virginia (73.5%) own their homes.
196,774 households in West Virginia (26.5%) rent their homes.
The median monthly mortgage payment is $814.
Monthly costs of homeownership (excluding mortgages) are a median $394; in homes with mortgages, the median monthly cost to owners is $1,208.
The median gross rent in West Virginia is $850 per month.
Homeowning households in West Virginia have an average of 2.41 residents; renting households average 2.04 residents.
The homeowner vacancy rate in West Virginia is 1.0%.
West Virginia’s rental vacancy is 6.3%.

Wisconsin Homeowner vs. Renter Statistics

Compared to the nationwide median, Wisconsin households are 4.09% more likely to own their homes and have 22.5% lower monthly mortgage payments.

2.496 million total households live in Wisconsin.
1.695 million households in Wisconsin (67.9%) own their homes.
800,791 households in Wisconsin (32.1%) rent their homes.
The median monthly mortgage payment is $988.
Monthly costs of homeownership (excluding mortgages) are a median $641; in homes with mortgages, the median monthly cost to owners is $1,629.
The median gross rent in Wisconsin is $1,071 per month.
Homeowning households in Wisconsin have an average of 2.49 residents; renting households average 1.94 residents.
The homeowner vacancy rate in Wisconsin is 0.6%.
Wisconsin’s rental vacancy is 4.5%.

Wyoming Homeowner vs. Renter Statistics

Compared to the nationwide median, Wyoming households are 9.17% more likely to own their homes and have 13.3% lower monthly mortgage payments.

247,368 total households live in Wyoming.
176,197 households in Wyoming (71.2%) own their homes.
71,171 households in Wyoming (28.8%) rent their homes.
The median monthly mortgage payment is $1,105.
Monthly costs of homeownership (excluding mortgages) are a median $548; in homes with mortgages, the median monthly cost to owners is $1,653.
The median gross rent in Wyoming is $1,000 per month.
Homeowning households in Wyoming have an average of 2.40 residents; renting households average 2.07 residents.
The homeowner vacancy rate in Wyoming is 0.7%.
Wyoming’s rental vacancy is 6.6%.

Homeowner vs. Renter COVID Impact

Major economic events usually effect housing costs. The most recent economic upheaval surrounding the COVID-19 pandemic had a major impact on housing prices and affordability.

Half of renter households and 40% of homeowners nationwide lost income between March 2020 and March 2021.
Among those who received federal financial stimulus checks, 10.3% used at least some of their check to pay rent.
7.5% of stimulus check recipients used at least some of their check to make a mortgage payment.

Homeowners vs Renters Statistics