Census stats show 24% of US households don’t have a home loan on the residence they own.
My trusty spreadsheet looked at 2023 Census Bureau housing data that tracks how households pay for shelter in 50 states and the District of Columbia to quantify how many Golden Staters had reached no-mortgage status.Only 18% of California’s 13.7 million households live in a house they own without a mortgage. That’s a far thinner slice compared with the 26% of the 131 million US households that are mortgage-free.
Do not forget California’s large share of renters. Tenants paying rent represent 43% of Golden State households – third-highest behind D.C. and New York . Nationally, it’s 33%. Still, no home loan doesn’t mean a household without housing costs. Remember, there’s pricier insurance, taxes, repairs, etc.
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