The latest home ownership data from the U.S. Census Bureau for the St. Louis Metropolitan Statistical Area (MSA) reveals that the ownership rate in the 4th quarter of last year was 69.5%, a decline of over 2 full percentage points from the same quarter in the previous year. The Census Bureau reports home ownership rates on a quarterly basis, and the average rate for 2023 in the St. Louis metro area was 69.5%. This marks the lowest average homeownership rate for St. Louis since 2019, when it was 68.1%. The homeownership rate reached a recent peak in St. Louis in 2021, registering at 73.8%.
The homeownership rate in the St Louis MSA for the first quarter of 2021 was 73.1%, according to the latest data from the U.S. Census Bureau. This is a big jump upward from the 4th quarter of last year when St Louis ranked 23rd on the list.
The homeownership rate in the St Louis MSA for the fourth quarter of 2020 was 69.3%, according to the latest data from the U.S. Census Bureau. This is a slight increase from the 4th quarter of the prior year when the homeownership rate in the St Louis MSA was 68.3%. This puts St Louis 23rd on the list of the 75 largest MSA’s in the country in terms of homeownership, down from 17th on the list during the prior quarter.
The homeownership rate in the St Louis MSA for the second quarter of this year was 74.0%, according to the latest data from the U.S. Census Bureau. This is an increase from 68.4% for the first quarter and moves St Louis from having the 22nd highest homeownership rate of the 75 largest MSAs in the US to the 13th highest!
The homeownership rate in the St Louis MSA for the first quarter of this year was 68.4%, according to the latest data from the U.S. Census Bureau. While this was just a slight increase from the prior quarter, when the St Louis homeownership rate was 68.3%, it was good enough to move St Louis’s homeownership rate from 24th to 22nd on the list of the 75 largest MSAs.
During the 4th quarter of 2019 the homeownership rate in the U.S. hit 65.1%, the highest level since the 4th quarter of 2013 when the rate was 65.2%, according to the latest data available from the U.S. Census Bureau.
Homeownership by Race and Ethnicity:
As the table below shows, according to the Census Bureau data, homeownership by race and ethnicity was as follows:
White, Non-Hispanic – 73.7% – the highest level in 8 years.
Black – 44.0% – the highest level in 7 years.
Hispanic (of any race) – 48.1% – the highest level in just under 2 years.
Home Ownership Rate By Race and Ethnicity 1994 – Present
During the 4th quarter of this year, the homeownership rate for the St Louis MSA was 68.3%, a slight decline from the month before, but St Louis ended the year with an average homeownership rate of 68.1%, the highest end of year average in 4 years!
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%.
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%.
During the 1st quarter of this year, the homeownership rate for the St Louis MSA was 66.5% giving St Louis the 26th highest homeownership rate of the 75 largest MSA’s in the country, according to the latest date from the U.S. Census Bureau. As the table below shows, the North Port-Bradenton-Sarasota, FL MSA had the highest homeownership rate during the quarter at 78.0% and Fresno, CA MSA had the lowest at 48.0%.
The rate of homeownership in the state of Missouri was 70.2% during the 1st quarter of this year, giving Missouri the 14th highest rate of homeownership throughout the 50 states plus the District of Columbia, based upon the latest data from the U.S. Census Bureau. As the table below illustrates, New Hampshire had the highest rate of homeownership at 74.0% and the District of Columbia the lowest at 38.4%.
During the 1st quarter of 2019, the homeownership rate for the St Louis MSA was 66.5%, down from 70.5% the prior quarter, according to the latest data from the U.S. Census Bureau. As the table below shows, the 12-month rolling average for the St Louis homeownership rate was 67.5.% in the 1st quarter of 2019, the highest 12-month rate since the 1st quarter of 2016.
During the 4th quarter of 2018, the homeownership rate for the St Louis MSA was 70.5%, the highest level since the 2nd quarter of 2015, according to data from the U.S. Census Bureau. As the table below shows, the 12-month rolling average for the St Louis homeownership rate was 66.0% in the 4th quarter of 2018, the highest since the 4th quarter of 2016.
The homeownership rate in the U.S. hit 64.4 percent during the third quarter of this year, according to data just released from the Census Bureau. This is the highest rate of homeownership in the U.S. since the third quarter of 2014 when the rate was also 64.4%.
As the chart below shows, homeownership rates increased in the Northeast and West regions during the 3rd quarter, from a year ago, but declined slightly in the Midwest and the South.
In the Midwest region of the U.S., the homeownership rate rose to 68.3% during the 2nd quarter of this year from 67.9% in the first quarter, according to a report just released by the U.S. Census Bureau. The homeownership rate of 68.3% in the Midwest region is higher than the homeownership rate for the U.S. as a whole, which came in at 64.3% during the 2nd quarter, and is the highest of any region. The South region has the 2nd highest homeownership rate at 65.9% and the West region the lowest at 59.7%, according to the report.
So much for “millennials don’t want to own homes“…
In many real estate circles over the past couple of years, there has been much debate over whether millennials have any interest in homeownership or not. Probably more than half the time the consensus is this generation is not nearly as interested in, or focused on, homeownership as their baby boomer parents. However, in the homeownership report for the 2nd quarter, the age group that had the largest increase in home ownership was the “under 35 years old” group. Granted, this group has the lowest homeownership rate of the age groups in the report but increased to 36.5% from 35.3% in the prior quarter. The homeownership rate for the older groups, 55-64 years and 65 years and above, both declined during the 2nd quarter to 75.1% from 75.4% and to 78.0% from 78.5%, both respectively.
The homeownership rate in St Louis, during the 3rd quarter of this year was 68.0 percent, the highest level since the 3rd quarter of 2015 when the rate was 70.3 percent, according to data just released by the U.S. Census Bureau.
Homeownership Rate St Louis MSA
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The homeownership rate for the State of Missouri during the 3rd quarter of 2017 was 70.4 percent, the highest level for the state since the 4th quarter of 2014 when the rate was 72.9 percent.
The homeownership rate for the St Louis MSA during the 1st quarter of 2017 was 61.6% according to recently released data from the U.S. Census Bureau. As our table below shows, the current homeownership rate for St Louis is at the lowest level in our records. On the table I also compute a rolling 12 month average which helps smooth out seasonal variations in the data and it shows an average homeownership rate of 64.8% over the past 12 months, down from 68.8% for the prior 12-month period and, like the percentage for the quarter, the lowest level in our records.
This is not gloom and doom news for the real estate market. It may just be indicative of a change in lifestyle today versus the past with a smaller percentage of the population being married to the idea of homeownership and more receptive to being a tenant. As the second table below illustrates the total of occupied housing units in the midwest region of the US has only grown from about 25,500 units 10 years ago to 26,500 units now, an increase of just 3.9%. However, during that period, the total number of rental units increased 21% while the total number of owner occupied units declined 2% clearly marking a shift from home ownership to rental but a segment of the population.
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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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After the homeownership rate in the U.S. fell to 63.1% during the 2nd quarter of 2016, the lowest level since the U.S. Census Department began tracking this data in 1968, it rose to 63.4% during the 3rd quarter and then to 63.5% during the 4th quarter of 2016, according to data just released by the U.S. Census Bureau.
Here in the Midwest Region, the homeownership rate slipped slightly during the 4th quarter of 2016 to 68.4% from 68.6% the quarter before, hitting the lowest rate since the 4th quarter of 2015 when it was 68.1% in the Midwest. As the bottom chart below illustrates, the Midwest Region of the U.S. continues to have a homeownership rate that is higher than the U.S. rate as well as every other region.
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The homeownership rate in the St Louis MSA rose to 67.2 percent in the 3rd quarter of 2016, up from 66.2 percent during the prior quarter but still not far from the 4th quarter 2015 rate of 65.2 percent, the lowest homeownership rate in well over a decade. As the table below shows, which is based upon data from the U.S. Census Bureau, the St Louis homeownership rate peaked this year at 67.9 percent during the first quarter. I believe the best way to see the trend in this data is to look at the 12 month rolling average, so we the seasonality of the data does not affect it. As the table below illustrates, the current 12-month rolling average of the St Louis homeownership rate is at 66.6%, the lowest rate in well over a decade.
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Homeownership in the U.S. is down 7.58% in the past 10 years, according to the latest information available from the U.S. Census Bureau. The St Louis homeownership rate for the 3rd quarter of 2015 was the lowest rate for the 3rd quarter of any year in over 10 years. In addition, as our table below showings, the 12 month rolling average St Louis homeownership rate at the end of the 3rd quarter was at 69.9%, the lowest rate in well over a decade.
10 Year Decline In Homeownership in St Louis Below National Rate:
Homeownership in St.Louis declined 5.9% in the 10 year period ending in the 3rd quarter of 2005, 22% less than the decline on a national level during the period of 7.58%.
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In the second quarter of this year, 63.4 percent of the households in the U.S. were homeowners, marking the lowest rate of home ownership since 1967, nearly 50 years ago, according to data just released by the U.S. Census Bureau. The homeownership rate fell from 63.7 percent in the prior quarter and from 64.7 percent a year ago and now remains just just one-half of one percent from the all time low of 62.9 percent in 1965.
The Midwest Region Has The Highest Rate Of Homeownership-
As the regional chart below shows, the midwest region of the U.S., at 68.4 percent, has the highest rate of homeownership of the four regions, followed by the south at 64.9 percent. Not surprisingly, the region with the lowest rate of homeownership is also the region with some of the highest home prices, the west.
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The home ownership rate in the use for the 2nd quarter of 2014 was 64.7 percent, a small decline from 64.8 percent in the previous quarter and the lowest rate of home ownership in the U.S. we have seen since the 2nd quarter of 1995 when the rate was the same, 64.7%, according to data just released by the U.S. Census Bureau.
Here in the Midwest region of the country, the home ownership rate in the 2nd quarter of 2014 was 69.6%, an increase from 69.3% the quarter before. Unlike the U.S. home ownership rate which is the same now as 19 years ago, the home ownership rate for the Midwest has risen over a full percentage point in the past 19 years from 68.5% in the 2n quarter of 1995 to 69.6% for the same period in 2014. As the chart below shows, the Midwest region of the U.S. has the highest percentage of home ownership of any region in the nation!
Home ownership rates have been on the decline and, in fact, reached a 19 year low the first quarto of this year when the home ownership rate in the U.S. fell to 64.8%. However, for people 65 years and older, the rate of home ownership has been on the rise. As the chart below shows, while the rate of home ownership declined for the U.S. overall, the rate for those persons aged 65 and over has continued to rise.
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The homeownership rate in the U.S. was 64.8 percent during the 1st quarter of this year, the lowest level since the 1st quarter of 1995 when the the rate was 64.2%, according to data released by the Census Bureau today. The Midwest region, with a 69.3% homeownership rate, was the region with the highest rate in the U.S. and the West region, with a 59.4% rate, was the region with the lowest homeownership rate in the U.S..
Homeownership increases with age:
The age group with the highest level of homeownership were seniors….age 65 and over with a 79.9% rate followed by people age 55 to 64 years old with a 76.4% rate.
Homeownership by race and ethnicity:
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While Home Ownership Rate In U.S. Is At Lowest Level In 18 Years St Louis Bucks Trend
St Louis Home Ownership Rate is bucking the national trend by rising and came in at 74.1 percent for the 2nd quarter of 2013 and a 74.2 for the 1st quarter. This year has started out with the highest rate of home ownership since 2006! Continue reading “St Louis Home Ownership Rate At Highest Level in 7 Years“
The home ownership rate in St Louis during the 1st quarter of 2013 was 74.2 percent, the highest level since the 4th quarter of 2006 when the rate was 74.3 percent, according to the latest data from the U.S. Census Bureau. I think this is pretty remarkable given that since the housing market crash of 2007, a record number of homeowners have lost their homes in foreclosure and now homeownership rates in St Louis are higher than before the crash.
A survey conducted by Prudential Real Estate revealed that 75 percent of Americans associate owning a home with the “American Dream“ and 96 percent feel home ownership is important and 77 percent of the 25-34 year olds feel home ownership is VERY important. The top reasons given for wanting to own a home include to control their living space, safety and for the investment aspect of it. Interestingly, tax benefits, such as the mortgage interest deduction that REALTORS® have fought to preserve for years, finished a distant 6th on the list of reasons.
“The American Dream” is a phrase we often apply to home ownership although the historian that made this expression popular, James Truslow Adams, defined it differently in his 1931 book Epic of America. According to Wikipedia, in his book Adams defined “The American Dream” as a better and richer life for every man through social order and not material possessions. Regardless of it’s original definition, home ownership became a part of the American dream in the 20th century. In spite of the fact that we are on the tail-end of a five-year housing slump, the “American Dream” appears to be hanging on as, according to 2011 Census Data, 66.1 percent of Americans own a home and, while this is no doubt a fairly significant decline from the peak of home ownership around the middle part of the decade, it is down only slightly from 2000 when 66.2 percent owned a home. Continue reading “A Look at the Change in Home Ownership by Race from 2000 to 2011“
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“
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“The American Dream” is a phrase we often apply to home ownership although the historian that made this expression popular, James Truslow Adams, defined it differently in his 1931 book Epic of America. According to Wikipedia, in his book Adams defined “The American Dream” as a better and richer life for every man through social order and not material possessions. Regardless of it’s original definition, home ownership became a part of the American dream in the 20th century. In spite of the fact that we are on the tail-end of a five-year housing slump, the “American Dream” appears to be hanging on as, according to 2011 Census Data, 66.1 percent of Americans own a home and, while this is no doubt a fairly significant decline from the peak of home ownership around the middle part of the decade, it is down only slightly from 2000 when 66.2 percent owned a home. 
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.
