Homeownership Rate Remained Steady in Q4 2015

The U.S. homeownership rate was 63.8 percent during the fourth quarter of 2015, 0.1 percent higher than the previous quarter and 0.2 percent lower than the fourth quarter of 2014 rate, according to data released by the U.S. Census Bureau.

Approximately 87.2 percent of all housing units in the fourth quarter occupied and 12.8 percent were vacant. Owner-occupied housing units made up 55.7 percent of total housing units, while renter-occupied units made up 31.5 percent of the inventory. Vacant units that were held off market comprised 5.4 percent of the total housing stock.

On a regional measurement, homeownership rates were highest in the Midwest (68.1 percent) and lowest in the West (59 percent). Homeownership rates were highest among those ages 65 years and over (79.3 percent) and lowest for the Millennials (34.7 percent). Non-Hispanic whites had the highest homeownership rate per racial demographic (72.2 percent) and African Americans had the lowest (41.9 percent); Hispanic householders recorded a 46.7 percent homeownership rate.

On the rental side of the housing world, the Census Bureau reported that Nntional vacancy rates in the fourth quarter were seven percent for rental housing and 1.9 percent for homeowner housing. The rental vacancy rate was 0.3 percent below the third quarter and unchanged from the fourth quarter of 2014, while the homeowner vacancy rate was virtually from both the previous quarter and one year earlier.