April 8, 2015

Homeownership Rates by State for 2014

Curious how many people own homes in each state?   I knew you were.

I got the following numbers right out of the Census page on Housing Vacancy and Ownership

The home ownership rate per state in 2014 :


Alabama 72.1%
Alaska 64.9%
Arizona 63.5%
Arkansas 65.4%
California 54.2%
Colorado 65.0%
Connecticut 67.4%
Delaware 74.3%
D.C. 41.5%
Florida 64.9%
Georgia 62.9%
Hawaii 58.4%
Idaho 69.6%
Illinois 66.4%
Indiana 70.1%
Iowa 69.4%
Kansas 64.7%
Kentucky 67.6%
Louisiana 65.3%
Maine 71.0%
Maryland 66.2%
Massachusetts 63.0%
Michigan 73.8%
Minnesota 71.4%
Mississippi 73.2%
Missouri 70.5%
Montana 66.9%
Nebraska 66.7%
Nevada 56.0%
New Hampshire 72.2%
New Jersey 65.2%
New Mexico 66.3%
New York 52.9%
North Carolina 66.4%
North Dakota 64.5%
Ohio 67.3%
Oklahoma 69.3%
Oregon 62.8%
Pennsylvania 69.7%
Rhode Island 61.8%
South Carolina 72.9%
South Dakota 69.2%
Tennessee 66.7%
Texas 62.2%
Utah 70.9%
Vermont 73.5%
Virginia 68.7%
Washington 63.6%
West Virginia 75.6%
Wisconsin 67.8%
Wyoming 70.8%

The states with the highest home ownership rate are :


West Virginia 75.6%
Delaware 74.3%
Michigan 73.8%
Vermont 73.5%
Mississippi 73.2%

And the lowest are :


D.C. 41.5%
New York 52.9%
California 54.2%
Nevada 56.0%
Hawaii 58.4%

Basically I assume what we see here is that if housing is expensive fewer people own.    Or if states have more or less established populations you will see more or less home ownership.   That second
reason is why I think Nevada is low and Delaware is high.

The Census page has annual data going back to 1988.    Comparing 1988 to 2014 you can see some gradual changes in the home ownership rates per state.

States with the largest drops in home ownership were :


Kansas -3.9%
Louisiana -3.2%
North Dakota -3.2%
Oklahoma -2.8%
Arizona -2.6%

And the states that saw home ownership go up the most were :


Alaska 7.9%
Missouri 5.7%
Alabama 5.6%
Hawaii 5.2%
Illinois 5.0%

I honestly can't begin to guess at reasons that would explain why home ownership would have gone up or down in those states.

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