A wave of younger buyers drove the U.S. homeownership rate up during COVID-19, with numbers rising even higher last year than before the pandemic, the Census Bureau reported Tuesday.
A wave of younger buyers drove the U.S. homeownership rate up during COVID-19, with numbers rising even higher last year than before the pandemic, theThe federal agency’s latest population and housing survey found that homeownership rates rose by 1.2 percentage points from 2016 to 2019 and another 1.2 points from 2019 to 2022.
Homeownership grew from 64.6% of adults in 2019 before the pandemic to 68.6% last year, thanks to a surge in first-time buyers younger than 45, theBecause pandemic restrictions disrupted the survey in 2020 and 2021, the agency said it could not report with certainty whether the rates grew during those two years as well.Census Bureau
From 2016 to 2019, homeownership rose by 2.2 percentage points among householders under 35, 1.5 points among those ages 35 to 44 and 0.8 point in the 45-54 group. The homeownership rate in the Midwest hit 70% in 2022, the highest of all regions. That was followed by the South , Northeast and West .
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