Homeownership Rates Rise in Most States
Homeownership rates are on the rise, according to the U.S. Census Bureau.
In 2020, West Virginia had the highest homeownership rate at 78.2 percent. Utah’s rate was 71.7, down slightly from 71.9 in 2019. The U.S. homeownership in 2020 was 66.6, up from 64.6 a year earlier. At 53.6 percent, New York had the lowest rate of all states. The District of Columbia fared even worse at 42.5 percent.
The homeownership rate is the percentage of U.S. homes that are owner-occupied. Homeownership is important for the economy because it helps generate jobs.
The design, construction, and rehabilitation of homes employ local labor and use a vast array of American-made products and services.
-SALT LAKE BOARD OF REALTORS