What is the homeownership rate in the US?
Updated annually
About 65.6% in 2024. That means about 2 in 3 households owned their home while the remainder rented.
65.6%
of households owned their home in 2024
2 in 3
households owned their home in 2024
According to the Census Bureau, understanding homeownership rates can help determine if people's needs are met by available housing and can inform policy and funding decisions.
Homeownership rates declined from the start of the Great Recession through 2016.
Share of households that own their home
During the housing bubble of the mid-2000s, homeownership rates rose to a peak of 69% in 2004. When the housing bubble popped in 2007 and the Great Recession started, foreclosures increased and there was a shift from owning to renting: the homeownership rate declined through 2016, when it bottomed out at 63.4%. It then began to increase. The homeownership rate in 2024 was up 1 percentage points from 2019.
Homeownership rates by population density
Homeownership rates don't just shift over time — they also vary across places for many reasons, including economic conditions and demographic characteristics.
Homeownership is least common in urban areas.
Share of households that own their home
In 2024, homeownership rates were highest in rural areas, at 74.1%; 72.9% of households owned their homes in suburban areas, and 50.4% of households in urban areas. Since their respective housing-bubble highs, homeownership rates have increased 3.5 percentage points in suburban areas, 3.9 points in urban areas, and 2.2 points in rural areas. In the shorter term, homeownership rates in all three area types have increased over the last five years.
The places defined as rural, suburban, or urban shift every 10 years or so as populations grow, fall, or move and how places become more or less economically interconnected. This means changes in the rate may be the result of, for example, a county's classification changing from rural to suburban as opposed to a real change in homeownership.
Homeownership rates by state
State-level homeownership rates also vary due to factors like population density, economic conditions, and population characteristics.
New York had the lowest homeownership rate of any state in 2024.
Share of households that own their home, 2024
Homeownership rates ranged from a low of 52.7% in New York to 79.1% in West Virginia in 2024. Washington, DC's rate is lower than all states, which may be influenced by its urban characteristics. Washington DC's 2024 homeownership rate was 40.1%.
Homeownership rate by state (2024)
| 1. | West Virginia | 79.1% |
| 2. | Mississippi | 75.8% |
| 3. | Delaware | 75.1% |
| 4. | Vermont | 74.3% |
| 5. | Maine | 73.8% |
| 6. | Wyoming | 73.5% |
| 7. | Michigan | 73.3% |
| 8. | New Hampshire | 72.9% |
| 9. | Alabama | 72.6% |
| 10. | Montana | 71.9% |
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Methodology
USAFacts standardizes data, in areas such as time and demographics, to make it easier to understand and compare.
The analysis was generated with the help of AI and reviewed by USAFacts for accuracy.
Page sources
USAFacts endeavors to share the most up-to-date information available. We sourced the data on this page directly from government agencies; however, the intervals at which agencies publish updated data vary.
