Young Households Experienced Largest Gains for Homeownership in 2019

Economics
Published
Auto Loan Mortgage Data Chart
Auto Homeownership Rates

Young households (those under the age of 35) experienced the largest gains for homeownership in 2019, according to data from the Federal Reserve Board’s 2019 Survey of Consumer Finances (SCF). Shares of auto loans also increased, while the share with education loans declined.

Overall, the share of households with home mortgage debt (42%) was greater than the percentage of households with auto loan debt (37%), a difference that held true for all age groups 35 and above. The overall share with home mortgage debt remained virtually unchanged from 2016 to 2019 at 42%, while the share of all households with auto loans increased from 34% to 37%.

In 2019, the share of young households with auto loans rose to the highest level since 2010, when the percentage of young households with auto loans (32%) dipped below the percentage with home mortgage debt (34%). The share of households under the age of 35 with auto loan debt has steadily increased in the years following.

Overall auto ownership for young households has remained at a normalized level (82%) over the years, while the homeownership rate — although low (36%) — saw an increase after years of declines.

NAHB Economist Fan-Yu Kuo provides more analysis in this Eye on Housing post.

Subscribe to NAHBNow

Log in or create account to subscribe to notifications of new posts.

Log in to subscribe

Latest from NAHBNow

Trends

May 05, 2025

House Sharing Reaches All-Time High as Affordability Issues Linger

A record-high 6.8 million households shared their homes with unrelated housemates, roommates or boarders in 2023. And young adults are not the only ones driving this growth.

Workforce Development

May 05, 2025

5 Tools Women in Construction Can Use for Personal and Professional Growth

A new title from NAHB's BuilderBooks, "Breaking Ground, Breaking Glass Ceilings," explores what it takes for women to excel in industries traditionally dominated by men, including construction.

View all

Latest Economic News

Economics

May 01, 2025

Housing’s Share of the Economy Grows Higher to Start the Year

Housing’s share of the economy grew to 16.4% in the first quarter of 2025, according to the advance estimate of GDP produced by the Bureau of Economic Analysis. This is the highest reading since the third quarter of 2022 and is up 0.2 percentage points from the fourth quarter of 2024.

Economics

Apr 30, 2025

U.S. Economy Contracted in First Quarter of 2025

The U.S. economy contracted in the first quarter of 2025 for the first time in three years, driven by a sharp surge in pre-tariff imports, softening consumer spending, and a decline in government spending.

Economics

Apr 30, 2025

House Sharing is Not Just for Young Adults

A record-high 6.8 million households shared their housing with unrelated housemates, roommates or boarders in 2023. While college-age and young adults make up the largest subset of house sharers (close to 41%), this type of living arrangement is gaining popularity among older householders fastest, with the 55+ segment accounting for 30% of all house-sharing households in 2023.