10 States Where Homeownership Rates Have Declined Over the Past 10 Years
As homes continue to become less affordable for the average buyer, you might assume that homeownership rates are declining across the U.S.
However, a recent analysis conducted by Agent Advice found that rates are actually increasing in most states, and 39 states saw homeownership rates rise from 2014 to 2023.
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On the other hand, homeownership rates have declined over the past decade in 10 states (and have stayed steady in one state). Here’s a look at the states where fewer residents own homes compared to 10 years ago.
New Jersey
Homeownership rate (2014): 64%
Homeownership rate (2023): 60.5%
Percent change: -5.47%
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New York
Homeownership rate (2014): 53.1%
Homeownership rate (2023): 51.2%
Percent change: -3.58%
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Missouri
Homeownership rate (2014): 72.9%
Homeownership rate (2023): 70.5%
Percent change: -3.29%
Colorado
Homeownership rate (2014): 64.8%
Homeownership rate (2023): 62.7%
Percent change: -3.24%
Oklahoma
Homeownership rate (2014): 70.7%
Homeownership rate (2023): 69%
Percent change: -2.40%
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Utah
Homeownership rate (2014): 70.6%
Homeownership rate (2023): 69.1%
Percent change: -2.12%
North Carolina
Homeownership rate (2014): 66.2%
Homeownership rate (2023): 65.8%
Percent change: -0.60%
Kansas
Homeownership rate (2014): 69%
Homeownership rate (2023): 68.6%
Percent change: -0.58%
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Ohio
Homeownership rate (2014): 66.3%
Homeownership rate (2023): 66.1%
Percent change: -0.30%
Wisconsin
Homeownership rate (2014): 67.4%
Homeownership rate (2023): 67.2%
Percent change: -0.30%
Data is sourced from Agent Advice and is accurate as of Jul. 31, 2024.
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This article originally appeared on GOBankingRates.com: 10 States Where Homeownership Rates Have Declined Over the Past 10 Years