Homeownership Rate Falls in 2015
Tuesday, March 29, 2016
From American Consumers Newsletter
The nation's homeownership rate fell to 63.7 percent in 2015, according to the Census Bureau's Housing Vacancies and Homeownership Survey. This is down from the peak of 69.0 percent in 2004 – a 5.3 percentage point decline. Among householders aged 30 to 44, the rate fell by more than 10 percentage points during those years.
Homeownership Rate in 2015
(and percentage-point decline since peak year of 2004)
Total households: 63.7% (-5.3)
Under 25: 21.8% (-3.4)
25 to 29: 31.7% (-8.5)
30 to 34: 45.9% (-11.5)
35 to 39: 55.3% (-10.9)
40 to 44: 61.6% (-10.3)
45 to 54: 70.0% (-7.2)
55 to 64: 75.4% (-6.3)
65-plus: 78.9% (-2.2)
The long-term decline in homeownership, now in its second decade, shows no sign of stopping. Between 2014 and 2015, every age group with the sole exception of householders under age 25 (whose homeownership rate climbed by a minuscule 0.1 percentage points) experienced a decline in homeownership. The overall homeownership rate fell by 0.8 percentage points between 2014 and 2015, greater than the 0.6 percentage-point decline in the previous year.
— By Cheryl Russell
