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Young adults drove homeownership rate increase in past few years

Jul 28, 2023 | Uncategorized

Young adults under 45 years old drove most of the increase in the overall homeownership rate from 2016, and nearly all of the increase since 2019, through 2022, according to Census Bureau’s Population Survey/Housing Vacancy Survey data release recently. The report sorts out the homeownership rate of “householders” – people in whose name the home is owned, being bought, or rented – by age group for two time periods: from 2016 through 2022, and from 2019 through 2022. The report found that the growth in homeownership rates for both periods was driven by people under 45 years of age.

Young adults under 45 years old drove most of the increase in the overall homeownership rate from 2016, and nearly all of the increase since 2019, through 2022, according to Census Bureau’s Population Survey/Housing Vacancy Survey data release recently.

The report sorts out the homeownership rate of “householders” – people in whose name the home is owned, being bought, or rented – by age group for two time periods: from 2016 through 2022, and from 2019 through 2022. The report found that the growth in homeownership rates for both periods was driven by people under 45 years of age. [READ MORE]