Lowest Homeownership Rate for Younger Householders in Four Years

Economics
Published
Homeownership by Age Group

The U.S. homeownership rate was 65.6% in the second quarter of 2024, unchanged from the first quarter and still the lowest rate in the last two years, according to the U.S. Census Bureau's Housing Vacancies and Homeownership Survey (HVS). The homeownership rate is below the 25-year average rate of 66.4%, due to a multidecade low for housing affordability conditions.

The homeownership rate for the head of households under the age of 35 decreased to 37.4% last quarter, the lowest level in four years. Amidst elevated mortgage interest rates and tight housing supply, affordability is declining for first-time home buyers. This age group — who are particularly sensitive to mortgage rates, home prices and the inventory of entry-level homes — saw the largest decline among all age categories.

The homeownership rates for householders under 35, between 35 and 44, and 65 and over decreased compared to a year ago. The homeownership rates among householders under 35 experienced a 1.1 percentage point decrease from 38.5% to 37.4%. Followed by the 35-44 age group with a 0.9 percentage point decrease from 63.1% to 62.2%. Next, were households with ages 65 years and over, who experienced a modest 0.3 percentage point decline.

However, homeownership rates for the 45-54 age group inched up to 71.1% in the second quarter of 2024 from 70.8% a year ago. The homeownership rate of 55-64 year-olds edged up to 75.8% from a year ago.

Na Zhao, NAHB principal economist, provides more stats 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

Education

Jul 23, 2025

Project Scheduling and Estimating Tips to Boost Your Business

NAHB's fall slate of live online courses are geared toward helping you prepare for any scenario in today's economy.

Labor

Jul 22, 2025

State-Level Employment Data for June

According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment increased by 147,000 in June following a gain of 144,000 jobs in May. Nonfarm payroll employment increased in 27 states in June compared to the previous month, while employment decreased in 23 states and the District of Columbia.

View all

Latest Economic News

Economics

Jul 22, 2025

Top 10 Builder Market Share Across Metros

An earlier post described how the top 10 builders in the country captured a record 44.7% of new single-family closings in 2024. BUILDER Magazine has now released additional data on the top ten builders within each of the 50 largest new home markets in the U.S., ranked by single-family permits.

Economics

Jul 21, 2025

Use of Private Water and Sewer Systems in New Single-Family Homes

The share of new single-family homes built with individual septic systems declined slightly in 2024 compared to the previous year, while the share of homes served by private wells remained steady.

Economics

Jul 21, 2025

Sales of Lower-Priced New Single-Family Homes Declined Over the Past Five Years

From 2020 to 2024, sales of lower-priced new homes declined significantly as the market moved toward higher-priced segments. Rising construction costs—driven by inflation, supply chain disruptions, and labor shortages—as well as higher regulatory costs, made it increasingly difficult for builders to construct affordable homes.