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New Fed research suggests far fewer Americans own homes than widely believed
CBS News • • business
Key Points:
- New Federal Reserve research reveals that only about 53% of U.S. adults own homes, significantly lower than the commonly cited 65% homeownership rate based on Census Bureau data.
- The traditional rate measures the share of occupied homes owned by residents, while the new homeowners-to-population ratio (HPOP) calculates the share of adults who personally own a home, offering a more accurate depiction.
- Approximately 14% of U.S. adults live in owner-occupied homes without owning the property themselves, including adult children, relatives, or roommates, which the traditional measure does not distinguish.
- The new HPOP metric highlights that homeownership is less accessible than previously thought, with lower rates in every state, especially in high-cost areas like California and New York.
- Experts warn that relying on flawed homeownership data could lead to poorly designed housing policies, and the HPOP measure underscores increasing affordability challenges in the U.S. housing market.
