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.
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%
New York
- Homeownership rate (2014): 53.1%
- Homeownership rate (2023): 51.2%
- Percent change: -3.58%
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%
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%
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.