25 States Where Home Ownership Changed as Home Prices Increased

Although home prices have rapidly increased, homeownership rates have also slightly increased in the U.S. over the past five years. In 2018, the median home list price in the U.S. was $255,200 and the homeownership rate was 64.8%, according to Zoocasa. In 2023, the median home list price increased by 50% to $382,600, yet the homeownership rate still increased to 65.7%.

While homeownership rates have been trending upward nationally, they have declined in certain states as home prices soared. To find how the homeownership rate has changed on a state level over the past five years, Zoocasa analyzed median home price data and homeownership rates in 26 states and districts from 2018 to 2023. Some states were excluded from the analysis because sufficient median home price data could not be found. 

Here’s how homeownership rates have changed amid rising home prices in these states, ranked from largest decrease to largest increase.

• 2018 median home price: $299,900
• 2023 median home price: $473,880
• % change in homeownership rate: -7.5%

• 2018 median home price: $376,450
• 2023 median home price: $549,950
• % change in homeownership rate: -5.4%

• 2018 median home price: $159,500
• 2023 median home price: $235,00
• % change in homeownership rate: -5.1%

• 2018 median home price: $305,000
• 2023 median home price: $515,000
• % change in homeownership rate: -5%

• 2018 median home price: $179,000
• 2023 median home price: $217,000
• % change in homeownership rate: -4.1%

• 2018 median home price: $217,000
• 2023 median home price: $360,000
• % change in homeownership rate: -3.8%

• 2018 median home price: $180,284
• 2023 median home price: $265,828
• % change in homeownership rate: -2.7%

• 2018 median home price: $272,043
• 2023 median home price: $380,000
• % change in homeownership rate: -2.1%

• 2018 median home price: $599,000
• 2023 median home price: $635,000
• % change in homeownership rate: -1.3%

• 2018 median home price: $235,000
• 2023 median home price: $340,000
• % change in homeownership rate: -0.2%

• 2018 median home price: $557,740
• 2023 median home price: $819,740
• % change in homeownership rate: 0%

• 2018 median home price: $267,400
• 2023 median home price: $460,750
• % change in homeownership rate: 0.6%

• 2018 median home price: $249,900
• 2023 median home price: $410,000
• % change in homeownership rate: 0.9%

• 2018 median home price: $186,260
• 2023 median home price: $255,000
• % change in homeownership rate: 1.5%

• 2018 median home price: $175,013
• 2023 median home price: $281,186
• % change in homeownership rate: 1.5%

• 2018 median home price: $152,500
• 2023 median home price: $215,000
• % change in homeownership rate: 1.6%

• 2018 median home price: $206,425
• 2023 median home price: $324,900
• % change in homeownership rate: 1.8%

• 2018 median home price: $140,000
• 2023 median home price: $213,699
• % change in homeownership rate: 2.1%

• 2018 median home price: $375,000
• 2023 median home price: $575,000
• % change in homeownership rate: 2.8%

• 2018 median home price: $255,268
• 2023 median home price: $292,182
• % change in homeownership rate: 3.8%

• 2018 median home price: $215,000
• 2023 median home price: $340,000
• % change in homeownership rate: 4.1%

• 2018 median home price: $234,900
• 2023 median home price: $315,000
• % change in homeownership rate: 4.5%

• 2018 median home price: $204,000
• 2023 median home price: $326,950
• % change in homeownership rate: 4.9%

• 2018 median home price: $230,053
• 2023 median home price: $380,000
• % change in homeownership rate: 6.7%

• 2018 median home price: $284,000
• 2023 median home price: $399,900
• % change in homeownership rate: 10.1%

• 2018 median home price: $230,000
• 2023 median home price: $278,947
• % change in homeownership rate: 11.4%

Data is sourced from Zoocasa and is accurate as of Feb. 8, 2024.