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
Remodeling
Nov 02, 2026
Are ADUs Popular Among Today's Remodelers?
According to NAHB’s Remodeling Market Index, nearly a quarter of remodelers started an ADU project over the past twelve months; 24% indicated that they were building an addition for use as an ADU and 23% indicated that they were converting an existing space into an ADU.
IBS
Oct 30, 2026
From Mr. Wonderful to Counting Crows, IBS 2027 Brings Out the Stars
The NAHB International Builders’ Show® (IBS) always features leading experts and luminaries from the housing and real estate industry. The sheer size of the event also attracts talent from other walks of life.
Latest Economic News
Economics
Nov 02, 2026
Private Residential Construction Slips as Remodeling Weakens
Private residential construction spending decreased in September 2026 driven by a steep decline in improvement (remodeling) spending. According to the latest construction spending data from the U.S. Census Bureau, private residential construction spending came in at a seasonally adjusted annual rate (SAAR) of $848.8 billion in September, down 5.5% from the revised August estimates and lower by 8.9% from last year.
Economics
Nov 02, 2026
Interior Finishes: The Most Time-Consuming Stage of Single-family Construction
Interior finishes (drywall, interior doors, painting, cabinets, countertops, plumbing fixtures, flooring, etc.) take more time to complete—6.4 weeks, on average—than any other major stage of single-family construction, according to results from the latest NAHB/Well Fargo Housing Market Index (HMI) survey.
Economics
Oct 30, 2026
Student Housing Construction Rises in the Third Quarter
Private fixed investment in student dormitories rose 2.6% in the third quarter of 2026, reaching a seasonally adjusted annual rate (SAAR) of $3.8 billion. This gain marked a second consecutive quarterly increase, despite continued pressures from elevated interest rates. On a year-over-year basis, investments in dorms increased 1.1%.