Homeownership Falls to Its Lowest Level in 5 Years-and One Age Group Is Hit the Hardest

"Homeownership rates by age showed downward movement for younger groups this quarter as buyers contend with challenging market conditions."

"Homeownership among those under 35 years old was 36.6% (-1.1 percentage pts YoY), among those 35 to 44 years old is 60.3% (-1.1 ppts YoY)."

"Though recent inventory gains have kept vacancy at a recent high, there are still far fewer vacant homes than was typical in the years pre-pandemic."

"Only the Northeast saw a falling vacancy rate year over year."

Homeownership in the U.S. has dropped to 65.1% in Q1 2025, the lowest level since before the COVID-19 pandemic, reflecting a slight decline from 2024 (65.6%). Despite some inventory gains, vacant homes remain fewer than pre-pandemic levels. The homeownership rate has notably decreased for younger demographics, specifically those under 35 years old. This age group faces affordability challenges, contributing to a lower homeownership rate, currently at 36.6%. Vacancies are highest in the South, and demographic disparities in homeownership persist across different races and ethnicities.

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