Home›Real Estate›Residential›US homeownership rate falls to 53% under a new metric

US homeownership rate falls to 53% under a new metric

HousingWire says its homeowners-to-population ratio, or HPOP, counts adults who are truly homeowners and finds that 13.9% of adults live in owner-occupied homes but likely are not owners.

Reported · Written up by our desk · Residential

HousingWire notes that the widely cited US homeownership rate of 65% is actually an owner-occupancy rate, a measure of how many housing units are occupied by an owner rather than how many adults own homes.

The outlet proposes an alternative homeowners-to-population ratio, or HPOP, which divides the number of adults identified as heads of owner-occupied households, plus spouses or unmarried partners living with them, by the total adult population ages 18 and over.

Using the HPOP approach, HousingWire estimates the US homeownership rate at 53%, and says 13.9% of adults live in owner-occupied homes but are likely not owners themselves.

HousingWire also points out that calculations based on owner-occupancy can exclude people in group quarters such as college dormitories, nursing homes, and correctional facilities, adding that group quarters account for about 3% of the gap between the two approaches.

More like this

Sources