How Many Households in the US Own Their Own Home?


Homeownership is often considered a cornerstone of the American Dream and is a significant part of the country’s economy. Therefore, understanding how many households in the US own their own home is important. This article aims to provide an informative overview of the topic and why it matters.

By the Numbers: Understanding the Scope of Household Ownership in the US

As of 2021, there are approximately 128 million households in the United States. The number has increased steadily over the years, with an average of 1.3 million new households formed each year since 2010.

The homeownership rate in the US is 64.0%, according to the U.S. Census Bureau’s 2020 American Community Survey. The rate is influenced by factors such as age, income, and location, which will be discussed in more detail later.

It’s also worth noting the difference between primary and secondary homes. A primary home is the primary residence of an individual or family, while a secondary home is a property that is not lived in for most of the year. As of 2020, there are approximately 9.7 million secondary homes in the US.

The American Dream: How Many Households in the US Own Their Own Home?

Owning a home is often seen as a significant part of the American Dream. It’s a symbol of success, social status, and financial security for many. As previously mentioned, the current homeownership rate in the US is 64.0%.

How does this compare to other countries? According to a 2018 report from the Organisation for Economic Co-operation and Development (OECD), the US has a higher homeownership rate than the average of all OECD countries, which is 63.9%. However, some countries, such as Romania and Singapore, have significantly higher rates, while others, such as Germany and Switzerland, have much lower rates.

From Renting to Owning: A Look at the Percentage of US Households Who Have Made the Leap

Owning a home has many advantages over renting, including stability, financial benefits, and the ability to customize and personalize the property. As of 2020, approximately 76% of US households own their own home, while 24% rent.

The percentage of households that own their own home varies among different age groups. Homeownership rates are highest among individuals aged 65 years and older, at 79.2%, and lowest among individuals aged 35 years and younger, at 38.4%.

Breaking Down the Data: How Family Size, Income, and Location Impact Homeownership Rates

Family size, income, and location are all significant factors that influence homeownership rates. According to the National Association of Realtors, families with children, particularly married couples, are more likely to own a home than individuals without children.

Income is also a significant factor. The homeownership rate among households with an income of $35,000 or less is only 34%, while it’s 87% among households earning $200,000 or more.

Location matters as well. High-cost coastal areas, such as New York City and San Francisco, have much lower homeownership rates than more affordable areas in the Midwest and South. Government policies, such as affordable housing initiatives and tax incentives, can also impact homeownership rates.

The ideal affordable home ranges in cost, depending on location, but typically costs between $150,000 and $250,000 for households earning a median income.

The State of the American Household: How Ownership Rates Have Shifted Over Time

Homeownership rates in the US have shifted over time. In 1910, only 20% of households owned their own home. The rate steadily increased throughout the 20th century, but began to decline in the early 21st century. As of 2021, the homeownership rate is 64.0%.

The shift in homeownership rates is influenced by various factors, such as economic conditions, demographics, and cultural values. The Great Recession of 2008, for example, had a significant impact on homeownership rates. The rate fell to a low of 63.4% in 2016 but has since rebounded.

Additionally, homeownership rates vary among different generations. Baby boomers, born between 1946 and 1964, have the highest homeownership rate, at 75%. Millennials, born between 1981 and 1996, have the lowest rate, at 40%.


In conclusion, understanding how many households in the US own their own home is important for a variety of reasons. Homeownership is often considered a significant part of the American Dream, and it also contributes significantly to the country’s economy.

The current homeownership rate in the US is 64.0%, with factors such as age, income, and location influencing the rate. Homeownership rates have shifted over time, influenced by factors such as economic conditions and demographics.

Despite the challenges of high housing costs and economic uncertainty, homeownership remains an essential part of the American experience.

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