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April 23, 2014

U.S. Homeownership Rate at 15-Year Low

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U.S. Homeownership Rate at 15-Year Low

The rate of U.S. citizens who live in a home they own fell to 65.4 percent in the first quarter, the lowest point 15 years, the Census Bureau reports.

The rate is down from 66 percent in the fourth quarter of 2011, 66.4 percent in the first quarter of last year, and a high of 69.2 percent in 2004 before the housing bubble popped.

Homeownership among Americans aged 35 and younger has declined to the lowest level since 1994, and the rates for African-Americans (43.1 percent) and Hispanic-Americans (46.3 percent) are at the lowest they have been in years. 

Source: "U.S. Homeownership Rate at 15-Year Low," Los Angeles Times (May 1, 2012)

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