More Americans Are Homeowners In 2018

Dated: 04/27/2018

Views: 105

More Americans Are Homeowners in 2018


Over the last year, more Americans became homeowners as the number of renters continued to decrease. The homeownership rate in the first quarter was unchanged at 64.2 percent, higher than last year’s 63.6 percent, the Census Department reported Thursday. This is also the fifth consecutive quarter of yearly increases in the ownership rate. 

The homeownership rate has been gradually climbing back since hitting a 50-year low in 2016. The rate peaked in 2004 at 69.2 percent, but despite recent climbs, it still remains below the 25-year average rate of 66.3 percent. Meanwhile, the number of renters has dropped.

More young Americans are buying homes. The ownership rate for Americans under age 35 was 35.3 percent in the first quarter, which is a full percentage point higher than a year ago.

The homeowner vacancy rate dropped to 1.5 percent in the first quarter—the lowest vacancy rate since 2001, the Census Department reports. 


Source: “Goodbye Renter Nation: Americans Still Want to Be Homeowners,” MarketWatch (April 26, 2018) and “Homeownership Rate Stable at 64%,” National Association of Home Builders’ Eye on Housing blog (April 26, 2018)

Want to Advertise on this Site?

Latest Blog Posts

How To Buy A Home As A TwentySomething

Millennials, Oh millennials. They get such a bad rep but the truth is, they’re educated, technologically savvy, love to travel the world and have big dreams. New research shows that the

Read More

May 20 2018 54936 1

We all LOVE to talk about our favorite features in a home and the top trends. But can we take a moment to go over the things your home decor can live without? Check out this list from The Spruce

Read More

Guess What

Open House This Saturday from 12-4pm! Stop by 12756 Sierra Creek Drive Riverside CA 92503 and tour this beautiful home!View the

Read More

May 16 2018 21170 1

Down Payment Assistance Programs:8 Down Payment Assistance Programs To Finance Your First Home.There are 8 unique down payment assistance programs to finance your first home. Despite having decent

Read More