Only about 53% of Americans own homes, or about 12 percentage points lower than previous data has shown, the study found.

Only about 53% of U.S. adults own homes, far below the commonly cited 65% homeownership rate, according to new Federal Reserve research that paints a starker picture of access to homeownership.

(PSA: Never trust the state’s statistics.)

  • billwashereEnglish
    18·
    14 hours ago

    This is anecdotal and with a few caveats: In my area, and people I work with (which are generally good jobs) I’d say of those 40 and up it’s something like 75%. Of the other 25% that are living in apts or rental houses, I’d say 10% is due to choice. So maybe 15% want to own an home but can’t. One other thing to note is in this area, Raleigh area and suburbs, home prices are reasonable, especially when you get out a little. Now the home I just purchased almost 4 years ago has almost doubled in price in the last 10-15 years or so. So if I had purchased the same house I’m in, in 2010 or so, I would have spent almost half as much money. No my salary hasn’t doubled in 16 years so there’s that.

    Under 40, the story is way different. Probably more like 25% own homes. Shit is just way too expensive. And again my experience is with people making decent salaries in IT and academia. There is no way in hell someone 25 work two retail jobs could even touch the down payment, let alone the mortgage without 6 other roommates. Case in point, my son’s rent on a 1 bedroom apt is 2x what my first mortgage was on a 4 bedroom in 2001.

    • booly@sh.itjust.works
      2·
      2 hours ago

      It’s worth reading the underlying paper, here.

      Figure 3 has an interactive chart showing both stats (the traditional measure and the new metric under discussion), and visually shows the spread, by age, across all age groups. (If you’re on a phone you can pull the chart up full screen to be able to see y axis lines.)

      Some of the discussion around there is interesting, too:

      The owner-occupancy rate for households headed by adults under age 35 was 37 percent in 2024. Using the HPOP, which accounts for co-residents and dorm dwellers, we find a substantially lower number: only 22 percent of adults under 35 own their homes.

      Figure 6 gives state by state data and shows the actual spread between the two metrics for each state, so you can see big state differences, too.