More U. S. Householders Own Their Homes

A ratio of 2-in-3 U.S. householders (69.8 million or 66.2 percent) owned their homes last year, according to new analysis of Census 2000 data.

The analysis showed a total of 115.9 million housing units in the United States in 2000, an increase of 13.6 million units or 13.3 percent since 1990. During the same period, the increase in owner occupied homes 10.8 million, or 18.3 percent far outpaced the rise in renter occupied units 2.7 million, or 8.3 percent. Rental units totaled 35.7 million.

The 2000 Census showed that the South (17.5 percent) and the West (16.7 percent) regions experienced higher rates of housing growth than the Midwest (10.1 percent) and Northeast (6.6 percent).

Historically, between 1890 and 1940, less than half of U.S. households owned their homes.

The Great Depression drove ownership rates to their lowest level of the century in 1940 (43.6 percent).

Since the 1950 census, when homeowners represented 55 percent of all householders, the rate of homeownership has increased steadily.

By 1960, because of the post-World War II economic boom, favorable tax laws and easier mortgage financing, homeownership topped 60 percent.

The majority of householders in each of the four census regions owned their homes: Midwest, 70.2 percent; South, 68.4 percent; Northeast, 62.4; and West, 61.5 percent.

West Virginia led all states in homeownership, with about 3 out of 4 householders owning their homes.

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