Homeownership in America is constantly on the move, in-fact, some 65.8% of Americans own a home as of 2022. And believe it or not, about 27% of people in the U.S. live in a condo or HOA property. While the national vacancy rate is only about 10.7% the African American community is still the demographic with the lowest levels of home ownership at 47%. This post will discuss how many homeowners there are in the United States by age and race and go over 51 other homeownership stats.
Top Home Ownership Statistics In America:
TABLE OF CONTENTS
Percentage Of Homeownership In North America
How Many Homeowners Are There In The US?
65.8 percent of all Americans live in their own home as of 2022 that's about 230 Million Americans.
Homeownership Rates By State In 2022
West Virginia has the highest percentage of homeownership in America at 79%, followed by Maine (76%), Minnesota (76%), Delaware (74%), and New Hampshire at 74% as well. The District Of Columbia (Washington D.C.) has the lowest percent of homeownership in the U.S. at 42%. Followed by California (54%), New York (54%), Hawaii (58%), and Nevada (61%).
STATE | PERCENT OF HOMEOWNERSHIP |
|---|---|
District Of Columbia | 42% |
California | 54% |
New York | 54% |
Hawaii | 58% |
Nevada | 61% |
Massachusetts | 62% |
New Jersey | 63% |
Rhode Island | 63% |
Washington |
63% |
Alaska | 64% |
Georgia | 64% |
North Dakota |
64% |
Texas |
64% |
Arizona |
65% |
Arkansas | 66% |
Colorado | 66% |
Connecticut | 66% |
North Carolina |
66% |
Oregon | 66% |
Florida | 67% |
Ohio | 67% |
Oklahoma | 67% |
Illinois | 68% |
Montana | 68% |
Nebraska | 68% |
Tennessee | 68% |
Virginia | 68% |
Wisconsin | 68% |
Kansas |
69% |
Louisiana | 69% |
New Mexico | 69% |
Utah | 69% |
Maryland | 70% |
Pennsylvania | 70% |
Idaho | 71% |
Mississippi | 71% |
South Dakota | 71% |
Iowa | 72% |
Kentucky |
72% |
Wyoming | 72% |
Alabama |
73% |
Indiana | 73% |
Michigan |
73% |
Missouri |
73% |
South Carolina |
73% |
Delaware |
74% |
New Hampshire | 74% |
Vermont | 74% |
Maine | 76% |
Minnesota | 76% |
West Virginia | 79% |
How Many Single Family Homes Are There In American?
There are 82.64 million single-family houses in North America.
What Percentage Of American Housing Is Owner Occupied?
58.4 percent of total housing units in the U.S. are owner-occupied.
What Percent Of Americans Live In Apartments?
The inventory of rental-occupied units is 30.9%.
Key Statistics:
Condo Ownership Statistics
How Many Americans Live In A Condo or HOA Property?
Condominiums and HOA communities make up approximately 74 million people in the United States (27% of the population).
Condo Ownership Statistics By State
California residents have the largest number of condo owners in the nation at all most 26 Million condo owners. Followed by Florida (14,925,792), New York (6,747,340), Illinois (5,695,722), and Virginia (5,614,842). The state with the lowest number of condo owners in the nation is Rhode Island with only 42,503 condo owners. Followed by Wyoming (110,042), Alaska (144,153), Mississippi (148,077), and North Dakota (162,542).
Below we list all states along with Condo Ownership:
STATE | NUMBER OF CONDO OWNERS |
|---|---|
Alabama |
692,958 |
Alaska | 144,153 |
Arizona |
3,568,252 |
Arkansas | 1,429,748 |
California | 25,742,019 |
Colorado | 3,630,300 |
Connecticut | 705,771 |
Delaware |
299,586 |
District Of Columbia | 474,114 |
Florida | 14,925,792 |
Georgia | 3,718,342 |
Hawaii | 476,581 |
Idaho | 720,728 |
Illinois | 5,695,722 |
Indiana | 1,231,629 |
Iowa | 698,374 |
Kansas |
437,877 |
Kentucky |
717,957 |
Louisiana | 415,450 |
Maine | 407,903 |
Maryland | 1,543,130 |
Massachusetts | 2,651,167 |
Michigan |
1,969,057 |
Minnesota | 2,129,459 |
Mississippi | 148,077 |
Missouri |
1,373,035 |
Montana | 426,316 |
Nebraska | 450,982 |
Nevada | 942,433 |
New Hampshire | 689,225 |
New Jersey | 2,297,507 |
New Mexico | 421,819 |
New York | 6,747,340 |
North Carolina |
4,290,574 |
North Dakota |
162,542 |
Ohio | 2,451,022 |
Oklahoma | 440,790 |
Oregon | 899,660 |
Pennsylvania | 1,933,584 |
Rhode Island | 42,503 |
South Carolina |
2,350,651 |
South Dakota | 332,135 |
Tennessee | 1,120,288 |
Texas |
4,574,824 |
Utah | 1,116,576 |
Vermont | 168,801 |
Virginia | 5,614,842 |
Washington |
2,768,676 |
West Virginia | 862,056 |
Wisconsin | 410,726 |
Wyoming | 110,042 |
Key Statistics:
Homeowner Vacancy Rates In America
How Many Empty Homes Are There In America?
In the United States, the Vacancy Rate is 10.7%.
What Percent Of Rental Homes Are Vacant In The U.S?
In America, 5.8% of rental dwellings are unoccupied.
What Percent Of Single-Family Homes Are Vacant In The U.S?
In the United States, 0.95% of single-family houses are vacant.
What Percent Of Condos & HOA Housing Units Are Occupied?
Around 65.5 percent of HOAs housing units are occupied, leaving 35% vacant.
Vacancy Rates In America By State
The State of North Dakota has the highest vacancy rate in America at 12.9% followed by Alabama (12.8%), D.C. (11.0%), Missouri (10.4%), and Mississippi (10.1%). The states with the lowest vacancy rates in the U.S. are Vermont with 1.8% vacancy followed by Rhode Island (2.2%), Maine (2.5%), New Hampshire (3.0%), and New Jersey (3.5%).
Below is a detailed breakdown of vacancy rates in each state:
STATE | PERCENT OF VACANCY |
|---|---|
Alabama |
12.8% |
Alaska | 3.9% |
Arizona |
4.7% |
Arkansas | 6.8% |
California | 4.8% |
Colorado | 4.1% |
Connecticut | 5.4% |
Delaware |
3.8% |
District Of Columbia | 11.0% |
Florida | 7.5% |
Georgia | 5.5% |
Hawaii | 6.8% |
Idaho | 4.0% |
Illinois | 8.0% |
Indiana | 7.8% |
Iowa | 7.6% |
Kansas |
8.3% |
Kentucky |
6.8% |
Louisiana | 6.1% |
Maine | 2.5% |
Maryland | 4.8% |
Massachusetts | 4.5% |
Michigan |
5.9% |
Minnesota | 8.9% |
Mississippi | 10.1% |
Missouri |
10.4% |
Montana | 4.3% |
Nebraska | 5.2% |
Nevada | 4.2% |
New Hampshire | 3.0% |
New Jersey | 3.5% |
New Mexico | 6.5% |
New York | 6.8% |
North Carolina |
4.4% |
North Dakota |
12.9% |
Ohio | 6.5% |
Oklahoma | 5.4% |
Oregon | 4.7% |
Pennsylvania | 6.5% |
Rhode Island | 2.2% |
South Carolina |
6.6% |
South Dakota | 8.7% |
Tennessee | 7.6% |
Texas |
7.9% |
Utah | 4.6% |
Vermont | 1.8% |
Virginia | 4.4% |
Washington |
5.3% |
West Virginia | 6.0% |
Wisconsin | 3.5% |
Wyoming | 7.5% |
Homeownership Statistics By Race
How Many African Americans Own Their Home?
African Americans have a homeownership rate of 44%.
How Many Latino Americans Own Their Home?
Among Latino Americans, 51% own their home.
How Many Caucasian Americans Own Their Home?
Home ownership among Caucasian Americans is at an all-time high of 74 percent.
Key Statistics:
Homeownership Rates By Age In North America
What Is The Average Age Of A Homeowner?
The average homeowner is 56 years old, the median age of homeowners has never been higher at 57.
What Percentage Of 25 Year Olds In America Own A Home?
In the United States, 3.1% of people aged 25 to 29 own a home.
What Percentage Of 30 Year Olds Own A Home In The U.S.?
In America, 5.9% of 30- to 34-year-olds own a home.
What Age Group In The U.S. Has Seen The Biggest Decrease In Homeownership?
The majority of Americans under the age of 44 have seen their homeownership rates plummet over the last 10 years.
Homeownership Statistics By Age Group
Americans under the age of 25 have the least amount of homeownership at .80% and people in the age range of 55-64 has the largest amount of home ownership in the country.
AGE RANGE (YEARS) | % OF AGE GROUP |
|---|---|
Under 25 | 0.80% |
25 – 29 | 3.10% |
30 – 34 | 5.90% |
35 – 44 | 15.70% |
45 – 54 | 19.00% |
55 – 64 | 23.40% |
65 – 74 | 18.50% |
75+ | 13.60% |
Key Statistics:
Concluding Thoughts
Taking Action
The percentage of North American homeownership has increased to 65.8 percent, and condo ownership is also on the rise with around 27% of home owners opting for that choice.
And, it might not seem like it, but the average age of a homeowner is 56 years old, this means we should also be looking to get younger generations into a home.
However, we still have some work to do when it comes to homeownership, home or condo insurance coverage (Some 60% of people insured are underinsured on their policy) and lending equality for minorities.