By Dennis Norman, on October 30th, 2019 During the 3rd quarter of this year, the homeownership rate for the St Louis MSA was 69.5% giving St Louis the 13th highest homeownership rate of the 75 largest MSA’s in the country, according to the latest date from the U.S. Census Bureau. St Louis continues to improve in the homeownership rankings, moving from 26th in the 1st quarter, to 21st in the 2nd quarter and now to the 13th highest homeownership rate in the U.S.!
As the table below shows, the North Port-Bradenton-Sarasota MSA had the highest homeownership rate during the quarter at 76.7% and for the 3rd quarter in a row, Fresno, CA MSA had the lowest at 47.9%.
Homeownership Rate By MSA – 3rd Quarter 2019
(Click on the table below for St Louis homeownership rates by quarter from 2005-present)
Continue reading “St Louis Has 13th Highest Homeownership Rate of Metro Areas In U.S.“
By Dennis Norman, on August 8th, 2019 During the 2nd quarter of this year, the homeownership rate for the St Louis MSA was 68.0% giving St Louis the 21st highest homeownership rate of the 75 largest MSA’s in the country, according to the latest date from the U.S. Census Bureau. This is a move up from the prior quarter when St Louis had the 26th highest homeownership rate.
As the table below shows, the Toledo, Ohio MSA had the highest homeownership rate during the quarter at 77.5% and for the 2nd quarter in a row, Fresno, CA MSA had the lowest at 45.0%.
Homeownership Rate By MSA – 2nd Quarter 2019
Continue reading “St Louis Has 21st Highest Homeownership Rate of Metro Areas In U.S.“
By Dennis Norman, on March 29th, 2017 As I have discussed a few times over the past couple of years, the home ownership rate in the United States has been on the decline, finally reaching an historic low in 2016 at 63.4%. However, during the same time, the Hispanic home ownership rate increased from 45.4% in 2014 to 46% in 2016, according to the 2016 State of Hispanic Ownership Report.
Hispanic Home Ownership Rate vs Overall Home Ownership Rate
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By Dennis Norman, on October 28th, 2012  The St. Louis area has seen a fairly dramatic change in the make-up of the housing occupants with a shift from home-owners to renters over the past six years. After the crash of the real estate market we have experienced, as well as massive unemployment and a weak economy, this is not surprising, but is something that I think needs to be recognized. The five-county St Louis core market (St Louis County, St. Louis City, St Charles County, Jefferson County and Franklin County) as a whole saw owner-occupied units drop almost 3.5 percent during the period while, at the same time, renter-occupied units increased almost 15 percent resulting in renter’s making up almost 31 percent of all the occupied housing units in 2011, up 13.14 percent from 2005 when they accounted for 27.29 percent.
As we drill-down to the county level, we can see that the results vary fairly significantly by county. For example, Jefferson County saw the largest increase in renter-occupied housing units with a 35.38 percent increase during the six-year period, while Franklin County had a decrease of almost 9 percent in renter occupied units during the period. Continue reading “St. Louis Area Renter Occupied Housing On the Rise While Owner Occupied Housing Declines“
By Dennis Norman, on December 31st, 2010  As 2010 quickly comes to an end I sat here early this morning pondering the real estate market and reading reports on the housing industry. One thing that caught my attention was an article titled “The Mortgage Interest Deduction and Negative Equity” by Ted Gayer, the co-director of economic studies at the Brookings Institute (and occasional contributor to this blog). Ted’s article made some interesting points related to the mortgage interest deduction, negative equity and home-ownership rates in the U.S.
In his article Ted states “It seems semantically incorrect to call someone who owes more on an asset than it’s worth an “owner.”” This is a point that others have made as well and I think makes a good point. With this in mind, and in the mood to do some research and create some charts, I decided to dig into the topic deeper. Continue reading “Has The Rate of Home Ownership Dropped to an All-Time Low?“
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