Lowest Homeownership Rate for Younger Households Since 2020
Amidst elevated mortgage interest rates and tight housing supply, housing affordability is at a multidecade low. The youngest 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 rate for those under the age of 35 dropped to 37% in the third quarter of 2024, reaching the lowest level since the first quarter of 2020, according to the Census’s Housing Vacancy Survey (HVS).
The U.S. homeownership rate held steady at 65.6% in the third quarter of 2024, showing a flat trend over the last three quarters. However, this marks the lowest rate in the last two years. The homeownership rate remains below the 25-year average rate of 66.4%.
See more specifics based on each age group in this Eye on Housing post from NAHB principal economist Na Zhao.
Latest from NAHBNow
Economics
Apr 01, 2026
Builders Respond to Affordability Challenges with Buyer Incentives and Innovative DesignsDuring New Homes Month in April, the home building industry is responding to market conditions by constructing homes that balance price and meet modern home buyer needs. According to U.S. Census Bureau and National Association of Realtors data, newly built homes are typically priced at or below existing homes, offering buyers more options in today’s challenging housing market.
Codes and Standards | Land Development | Housing Affordability | Multifamily
Mar 31, 2026
NAHB Forming Working Group on Building Codes for Missing Middle HousingNAHB is forming a joint working group to foster development of NAHB’s long-term vision for “missing middle” housing and establish positions in the short term on building codes and other issues related to these housing types.
Latest Economic News
Economics
Mar 31, 2026
Soft Construction Labor Market Shows Decline for Open PositionsThe number of open positions in construction in February was down year-over-year, per the Bureau of Labor Statistics Job Openings and Labor Turnover Survey (JOLTS).
Economics
Mar 30, 2026
NAHB HBGI: Micro Markets Lone Bright Spot for Single-Family Building in Fourth QuarterSingle-family construction declined further in the fourth quarter in all but sparsely populated micro counties, according to the NAHB Home Building Geography Index (HBGI).
Economics
Mar 26, 2026
State/Local Property Tax Revenue Rises Past $210 Billion in the Fourth QuarterProperty tax revenue collected by state and local governments rose for the ninth consecutive quarter according to the Census Bureau’s quarterly summary of state and local tax revenue.