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
Advocacy
Jan 22, 2026
NAHB Podcast: The Davos Housing Update That Wasn’tOn the latest episode of NAHB’s podcast, Housing Developments, Chief Operating Officer Paul Lopez is joined by Chief Advocacy Officer Ken Wingert to discuss the latest housing policies, including the housing announcement (or lack thereof) at the World Economic Forum and NAHB's continued advocacy efforts for 2026.
IBS | Awards
Jan 21, 2026
NAHB Announces 2026 Best of IBS FinalistsMore than 300 product entries in nine categories were judged by 42 industry and media representatives. See which products were selected as finalists in the 2026 Best of IBS Awards.
Latest Economic News
Economics
Jan 22, 2026
House Prices Decline in Local Markets Despite National GrowthNationally, house prices continued to rise at a modest pace in the third quarter of 2025, as mentioned in our previous quarterly house prices post. However, this national trend masks significant variation across local markets. While many metro areas continued to see house price appreciation, others experienced notable declines following several years of rapid growth.
Economics
Jan 21, 2026
Private Residential Construction Spending Edges Higher in October on Home ImprovementsPrivate residential construction spending was up 1.3% in October, rebounding from a 1.4% decline in September 2025. This modest gain was primarily driven by increased spending on home improvements.
Economics
Jan 21, 2026
Single-Family Permits Cooled in the FallIn October, single-family building permits weakened, reflecting continued caution among builders amid affordability constraints and financing challenges. In contrast, multifamily permit activity remained steady and continued to perform relatively well.