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 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!
St Louis MSA Homeownership Rate – Past 5 Years
(Click on the table below for St Louis homeownership rates by quarter from 2005-present)
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 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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According to a report issued by the U.S. Census Bureau earlier this week, the percentage of Americans that own a home in the U.S. in the first quarter of 2010 dropped to 67.1 percent, the lowest rate of homeownership since the same quarter of 2000. The homeownership rate for 4th quarter 2009 was 67.2 percent, the low for 2009.
REGIONAL HOMEOWNERSHIP:
The Midwest Region has the highest rate of homeownership, as of the 1st quarter of 2010, at 70.9 percent with the South region not far behind at 69.2 percent. The Northeast homeownership rate was 64.4 percent and the West had the lowest at 61.9 percent.
HOMEOWNERSHIP DEMOGRAPHICS:
Traditionalists Generation, 65 years and above, 80.6 percent.
Highest rate for this group since first quarter 2007
Older Boomers, 55 to 64 years, 79.1 percent.
Highest rate for this group since third quarter 2009
Younger Boomers, 45 to 54 years, 74.8 percent.
Highest rate for this group since third quarter 2008
Generation X’ers, 35 to44 years, 65.3 percent
Lowest rate for this group in over 5 years
Generation Y’ers, under 35 years, 38.9 percent.
Lowest rate for this group in over 5 years
What is interesting about the age of homeowners is that, while first-time home sales have been propping up the market, partially as a result of the first-time homebuyer tax credit, the younger population’s percentage of homeownership has dropped dramatically. It seems that the X’ers and Y’ers either don’t value home ownership as much as their parents did, don’t trust a home as an investment, or perhaps cannot afford to buy a house. If this trend continues I would think it will definitely drag down the homeownership numbers in the future as well.
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