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Homeownership rate in the U.S. 2020, by ethnicity

The homeownership among White people in the United States was 73.7 percent, the highest out of all ethnicities, in the first quarter of 2020.

American Dream

Part of the “American Dream” is the idea of owning a home. It is seen as a status symbol and an indicator of wealth. People take a lot of pride in owning a home, and hope to do so at the earliest age possible. It is the idea of having a white picket fence with a nuclear family, a dog, and a car or two which is seen as the stereotypical “end goal”. However, in the aftermath of the 2008 recession, the rate of homeownership in the United States fell steadily until 2016. The recession hindered people’s chances of owning a home, due to less credit being available and their own fears about being stuck with a home in negative equity if another recession were to occur. As a result, the homeownership rate in the United States has barely increased in the past few years.

Factors affecting homeownership

Homeownership varies based on different factors. Married-couple families have the highest homeownership rates among different family statuses. Unsurprisingly, households with high incomes have the highest homeownership rates.

Homeownership rates in the United States in 1st quarter of 2020, by ethnicity

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Source

Release date

July 2020

Region

United States

Survey time period

Q1 2020

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Statistics on "Housing market in the United States"

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