These Types of Households Are Seeing an Increase in Homeownership Rates
Some household types—including those with multiple generations—are seeing homeownership rates increase, while other types are falling behind
Sept. 26, 2024
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Homeownership rates have improved for some types of households.
Affordability has become a challenge for prospective homebuyers across the board, but some types of households are actually seeing homeownership rates improve. The National Association of Home Builders’ Eye On Housing blog analyzed homeownership rates across households and found that the homeownership rate for single-parent households has increased by 5.7 percentage points over the past decade. Although this is the largest rise among all household types, the overall homeownership rate for single-parent households remains the lowest at 41%. Multigenerational households also saw an increase of 4.9 percentage points. Additionally, married couples with children experienced a rise in homeownership by 4.5 percentage points. Like multigenerational households, this was likely driven by historically low mortgage rates in 2021.
The only household type to have plateaued was married without children. As a matter of fact, these households saw decreasing homeownership rates for a few years before creeping back up to be at roughly the same rate as they were ten years ago at 84%. Nonetheless, married without children households remain as the group with the highest homeownership rate with an average rate of 84% over the decade.
