If you’re waiting for a dramatic change in the homeownership rate, you’ll be waiting a while. That’s because the rate generally doesn’t change that much. In fact, it basically stays the same, give or take a percentage or two. But while it doesn’t move dramatically, the homeownership rate’s ebb and flow can tell you something about the housing market. For example, when the rate is increasing, it’s generally taken to mean the market is healthier. When it falls, it’s typically a sign that economic or affordability issues are keeping Americans from becoming homeowners. So, where’s it at now? Well, according to the most recent numbers from the U.S. Census Bureau, the current homeownership rate is 65.7 percent. That’s down from its peak of 69 percent in 2004, but up from its 2015 low of 63 percent. More recently, the rate climbed to almost 67 percent during the pandemic-era buying boom but, since 2021, has been statistically unchanged. (source)
