Real Estate News: National Homeownership Percentage Increases

Throughout the United States of America, we are now experiencing homeownership levels very similar to where they were in 1995 which is an amazing feat to say the least. The results came from the middle of 2012 where it was shown that of all of the single-family homes, condominiums and apartments nationwide, 65.5% of them are owner occupied. Of course, it can thus be inferred that the other 35.5% are strictly lived in as rentals. In 1995 the percentage climbed over 65% and it was the first time this plateau was reached since 1981. Since then the percentages have fluctuated up and down and actually peaked in 2004 with 69.2% owner occupancy.

These numbers are fantastic for this year, as this does not take into account those in the 35.5% rental bracket who possibly own other property but are choosing to rent in another location. Furthermore, it does not measure those who own more than one property which is also certainly abundant.

1,293 American Counties (out of the total 3,141 Counties AND independent cities combined) have at least 75% owner occupancy levels, while the best performing one in Michigan known as Keweenaw County has the highest percentage of them all at an 89.8% homeownership rate. Homeowners also outnumber renters in 98.5% of the County-level jurisdictions (3,095 total) and thirty states in particular have all of their Counties with at least 50% homeownership rates showing this majority yet again. In Massachusetts, it must be mentioned, just Suffolk County falls below the 50% mark. Furthermore, only 46 Counties have a greater rental population with the three most drastic County examples all being in New York.

The main question, however, is where do these percentages fall in our State of Massachusetts? Here below are each of our Counties and their corresponding numbers as provided by the Census Bureau and in table form online at The Business Journals:

More Information: The Business Journals