Buy Alexandria Real Estate: 66.9% Ain't Bad! That's the Homeownership Rate in the United States

Alexandria Virginia Real Estate Blog

66.9% Ain't Bad! That's the Homeownership Rate in the United States

Housing is dead!  No American wants to own a home anymore.  The American Dream is over.

At least that's what you'd think from listening to some of the recent media reports.

This sensational headline would certainly make you think so: Homeownership at lowest level in a decade

Yet on closer examination, you'll find that 66.9% of the households in the United States own their homes.  While down from the 2004 peak of 69%, this number ain't bad.  Remember that some of these folks who owned homes at the height of the housing boom should have never bought in the first place.

The American Dream - Homeownership in the U.S.

The bottom line is that 66.9% of Americans feel that there's value in purchasing and owning a home and acted upon this knowledge, making it a reality.

Locally in the D.C. area, the numbers are quite interesting.  Washington D.C. proper has the lowest homeownership rate in the country at 44.7%, while Virginia's homeownership rate is above the national average at 68.6%.  Nearby West Virginia has the highest home ownership rate in the country at 78.7%.

Now, let's compare the national 66.9% homeownership rate with some other national statistics:

56.8% of eligible Americans voted in the 2008 Presidential Election.

39% of Americans own a dog.  33% own a cat.  3.9% own a bird.

Approximately 22% of Americans own a gun.

53% of Americans pay federal income tax.

41.6% of Americans have an account on Facebook.

Only 3.2% of American adults are vegetarian.

32% of American men have a mustache!

15-20% of Americans smoke pot.

55% of U.S. homes have 3 or more televisions.

1% of Americans are homeless.

REPEAT:  66.9% of American households own their own home.

Is the sky falling?  You decide.

Perhaps it's time to stop listening to statistical spin doctors and buy a home of your own.

 

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Comment balloon 10 commentsBrian Block • November 02 2010 03:05PM

Comments

Brian, I have re-blogged this. Thank you for a wonderful post.

Posted by Carol Costanzo, GRI, SFR (Montague Miller and Company) about 7 years ago

Wow, fortunately more Americans own guns than smoke pot.  I wish the percentages were a bit further apart!

Posted by Jay Markanich, Home Inspector - servicing all Northern Virginia (Jay Markanich Real Estate Inspections, LLC) about 7 years ago

Yes and around 14% of those who own homes are behind on thier mortgages from the latest news I read.  That is Bad!

Posted by James Lockard, Realtor, Allendale, NJ (RE/MAX Properties - Saddle River) about 7 years ago

Brian, great information to share.  There are still buyers out there with great credit and ready to buy.

Posted by Kay Van Kampen, Realtor®, Springfield Mo Real Estate (RE/MAX Broker, RE/MAX Solutions) about 7 years ago

I love your percentage rates on all topics...sure makes for positive thoughts :)

Posted by Celeste "SALLY" Cheeseman, (RA) AHWD CRS ePRO OAHU HAWAII REAL ESTATE (Century 21 Liberty Homes) about 7 years ago

Brian - looks like this was reblogged at least twice ... and I'm so glad.  The big picutre sometimes gets lost in our attention to the smaller focuses.  Your national stats is also both fun and interesting ... Thanks for sharing both your insight and your research!

Posted by Jack Mossman - The Nines Team at Keller Williams in Lodi, The Nines Team in Lodi (The Nines Team at Keller Williams in Lodi) about 7 years ago

Brian -- A lot of interesting statistics.  I have been reading that there is going to be a pent up need for homes... so we need a bit of consumer confidence...

Posted by Joan Whitebook, Consumer Focused Real Estate Services (BHG The Masiello Group) about 7 years ago

Brian, you are right, the American dream is not dead just slowed down a little until jobs come back.

Posted by Mike Frazier, Northwest Tennessee Realtor (Carousel Realty of Dyer County) about 7 years ago

Brian - unless jobs start to come back home again those numbers are going to go down drastically in the future!

Posted by Barbara-Jo Roberts Berberi, MA, PSA, TRC - Greater Clearwater Florida Residential Real Estate Professional, Palm Harbor, Dunedin, Clearwater, Safety Harbor (Charles Rutenberg Realty) about 7 years ago

Brian - I still believe in the AMERICAN DREAM!  Your stats were great reminders.  The "homeless" percentage still bothers me, as my family and I have volunteered in homeless shelters.  Even 1% is way too much!

Posted by Teresa Cooper, SC Lowcountry - Charleston, Dorchester, Berkeley (Home Solution Real Estate Services) about 7 years ago

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