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Homeownership Rates Among Young People in the United States

TUESDAY, AUG 09, 2022

It shouldn’t be any surprise that some U.S. counties have far fewer young homeowners than others. In Sumter County, Fla., for example, 25- to 34-year-olds own only 1.4 percent of owner-occupied homes, the lowest rate in the nation for counties with more than 10,000 housing units. Sumter County, of course, is one of the nation’s oldest counties. Likewise, Marin County, Calif. (2.8 percent), is one of the wealthiest counties, and Kauai County, Hawaii (3 percent), one of the most expensive.

Yet a couple of U.S. counties with extremely low homeownership rates by young Americans may come as a surprise. The Texas Hill Country enclave of Gillespie County, for example, has the nation’s second-lowest penetration rate for young homeowners, who own only 2.6 percent of housing units. And Union County, tucked away in northeastern Georgia, ranked No. 5 with 3 percent of housing units owned by 25- to 34-year-olds.

Use Social Explorer’s customizable mapping and report tools to look at homeownership rates among young people in your county.

 

Tenure by Homeowner,25-34 Years, 2020. Click here to explore further.

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Author: Frank Bass

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