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Homeownership Rates Drop to 1997 Levels
Homeownership Rates Drop to 1997 Levels
Homeownership Rates Drop to 1997 Levels
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July 29, 2011 (Shirley Allen)

Homeownership rates in the United States dropped to 65.9 percent in the second quarter of 2011, falling to levels last seen in 1997 according to the U.S. Census Bureau.

The homeownership rate in the second quarter of 2011 was 1.0 percentage point lower than the second quarter of 2010 and 0.5 percentage points lower than the first quarter of 2011.

Regionally, homeownership in the second quarter of 2011 was highest in the Midwest at 70.0 percent followed by the South which posted a 68.2 percent homeownership rate. Homeownership rates in the Northeast were 63.0 percent and the West was the lowest at 60.3 percent.

Compared to the first quarter of 2011, the region with the largest drop in homeowners was the Northeast where homeownership rates dropped from 63.9 percent to 63.0 percent. The region with that posted the smallest decline in homeownership was the South, which dropped from 68.4 percent in the first quarter to 68.2 in the second quarter.

The Northeast also had the largest year-over-year drop as homeownership rates which fell 1.2 percentage points. The West dropped 1.1 percentage points in a year followed by the South with a 0.9 percentage drop and the Midwest with a 0.8 percentage drop.

Homeownership in all age groups also continued to decline with homeownership rates for those under 35 at 37.5 percent, from 35 to 44 at 63.8 percent, from 45 to 54 at 72.3 percent, from 55 to 64 at 77.8 percent and 65 years of age and over at 80.8 percent.

The age group that has suffered the largest loss in homeownership rates since the housing bust has been the 35 to 44 year old age group. Since the first quarter of 2007, homeownership rates have dropped from 70.1 percent to 63.8 percent.

In the racial categories, the Non-Hispanic White alone homeownership rate was 73.7 percent, the Black Alone homeownership rate was 44.2 percent, the Hispanic rate was 46.6 percent and all Other Races was 56.0. Homeownership rates were down for all racial categories from the first quarter of 2011 and year-over-year. Since the beginning of 2007, homeownership rates for Blacks and Hispanics has fallen almost twice as fast as Non-Hispanic White’s.

Tags: Census Bureau, homeownership rates

Source:
U.S. Census Bureau

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With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
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Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
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NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
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No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
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Helpful Tools
Mortgage
Calculator
Estimate your monthly mortgage payment
Auto Loan
Calculator
Determine how much car you can afford before buying
Learn About
Mortgage Loans
Learn about the different types of home loans
15 Year vs 30 Year
Loan Comparison
Compare 15 year and 30 year mortgage loans
Todays Mortgage
Rates
See today's mortgage rates. Shop, compare and save.

July 29, 2011 (Shirley Allen)

Homeownership rates in the United States dropped to 65.9 percent in the second quarter of 2011, falling to levels last seen in 1997 according to the U.S. Census Bureau.

The homeownership rate in the second quarter of 2011 was 1.0 percentage point lower than the second quarter of 2010 and 0.5 percentage points lower than the first quarter of 2011.

Regionally, homeownership in the second quarter of 2011 was highest in the Midwest at 70.0 percent followed by the South which posted a 68.2 percent homeownership rate. Homeownership rates in the Northeast were 63.0 percent and the West was the lowest at 60.3 percent.

Compared to the first quarter of 2011, the region with the largest drop in homeowners was the Northeast where homeownership rates dropped from 63.9 percent to 63.0 percent. The region with that posted the smallest decline in homeownership was the South, which dropped from 68.4 percent in the first quarter to 68.2 in the second quarter.

The Northeast also had the largest year-over-year drop as homeownership rates which fell 1.2 percentage points. The West dropped 1.1 percentage points in a year followed by the South with a 0.9 percentage drop and the Midwest with a 0.8 percentage drop.

Homeownership in all age groups also continued to decline with homeownership rates for those under 35 at 37.5 percent, from 35 to 44 at 63.8 percent, from 45 to 54 at 72.3 percent, from 55 to 64 at 77.8 percent and 65 years of age and over at 80.8 percent.

The age group that has suffered the largest loss in homeownership rates since the housing bust has been the 35 to 44 year old age group. Since the first quarter of 2007, homeownership rates have dropped from 70.1 percent to 63.8 percent.

In the racial categories, the Non-Hispanic White alone homeownership rate was 73.7 percent, the Black Alone homeownership rate was 44.2 percent, the Hispanic rate was 46.6 percent and all Other Races was 56.0. Homeownership rates were down for all racial categories from the first quarter of 2011 and year-over-year. Since the beginning of 2007, homeownership rates for Blacks and Hispanics has fallen almost twice as fast as Non-Hispanic White’s.

Tags: Census Bureau, homeownership rates

Source:
U.S. Census Bureau

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
HOW LOANRATENETWORK
LOAN CENTER WORKS
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Information You Can Use
Helpful Tools

July 29, 2011 (Shirley Allen)

Homeownership rates in the United States dropped to 65.9 percent in the second quarter of 2011, falling to levels last seen in 1997 according to the U.S. Census Bureau.

The homeownership rate in the second quarter of 2011 was 1.0 percentage point lower than the second quarter of 2010 and 0.5 percentage points lower than the first quarter of 2011.

Regionally, homeownership in the second quarter of 2011 was highest in the Midwest at 70.0 percent followed by the South which posted a 68.2 percent homeownership rate. Homeownership rates in the Northeast were 63.0 percent and the West was the lowest at 60.3 percent.

Compared to the first quarter of 2011, the region with the largest drop in homeowners was the Northeast where homeownership rates dropped from 63.9 percent to 63.0 percent. The region with that posted the smallest decline in homeownership was the South, which dropped from 68.4 percent in the first quarter to 68.2 in the second quarter.

The Northeast also had the largest year-over-year drop as homeownership rates which fell 1.2 percentage points. The West dropped 1.1 percentage points in a year followed by the South with a 0.9 percentage drop and the Midwest with a 0.8 percentage drop.

Homeownership in all age groups also continued to decline with homeownership rates for those under 35 at 37.5 percent, from 35 to 44 at 63.8 percent, from 45 to 54 at 72.3 percent, from 55 to 64 at 77.8 percent and 65 years of age and over at 80.8 percent.

The age group that has suffered the largest loss in homeownership rates since the housing bust has been the 35 to 44 year old age group. Since the first quarter of 2007, homeownership rates have dropped from 70.1 percent to 63.8 percent.

In the racial categories, the Non-Hispanic White alone homeownership rate was 73.7 percent, the Black Alone homeownership rate was 44.2 percent, the Hispanic rate was 46.6 percent and all Other Races was 56.0. Homeownership rates were down for all racial categories from the first quarter of 2011 and year-over-year. Since the beginning of 2007, homeownership rates for Blacks and Hispanics has fallen almost twice as fast as Non-Hispanic White’s.

Tags: Census Bureau, homeownership rates

Source:
U.S. Census Bureau

HOW LOANRATENETWORK
LOAN CENTER WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Information You Can Use

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