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
Membership | Awards
Apr 16, 2026
HBAs Celebrated for Member Growth and Retention with Grand AwardsThe latest Grand Awards winners include 22 local associations and 10 state associations.
Membership
Apr 15, 2026
NAHB Mourns the Passing of Former Wichita Area BA President and CEO Wess GalyonWesley “Wess” Galyon, who served as president and CEO of the Wichita Area Builders Association for forty years, passed away.
Latest Economic News
Economics
Apr 16, 2026
Young Adults Report More Interest in the Construction Trades: 2026 SurveyNAHB estimates the U.S. has a structural housing deficit of 1.2 million units. Among the myriad of headwinds home builders face trying to close that gap is the industry’s chronic shortage of workers in the construction trades.
Economics
Apr 15, 2026
Builder Sentiment Posts Notable Decline on Economic UncertaintyEconomic uncertainty coupled with rising building material costs and interest rates resulted in a sharp decline in builder sentiment in April as the housing market enters into the heart of the spring buying season.
Economics
Apr 14, 2026
Higher Energy Prices Increase Residential Construction CostsEnergy input prices increased in March at their fastest pace since June of 2020 as the conflict in Iran shocked critical global supply chains. Building material prices, excluding energy, rose for the eleventh straight month. Price growth for trade services slowed while transportation and warehousing price growth accelerated.