BiggerPockets Daily Homeownership Rate Drops For the First Time in Nearly a Decade
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Oct 15, 2025 Homeownership in the U.S. has dropped for the first time since 2016, while renter households are on the rise. High mortgage rates and soaring home prices are prompting this shift, making affordability a key issue. Local markets show diverse homeownership rates, with notable differences between cities like LA and NYC. The decline in homeownership could fuel rental demand, benefiting investors. Additionally, trends in generational wealth transfer reveal a rise in accidental landlords as boomers pass on properties to millennials.
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Affordability Is Shifting Ownership Trends
- Rising home prices and high mortgage rates have stalled U.S. homeowner population growth for the first time since 2016.
- These affordability pressures keep people renting longer and reduce opportunities to build equity.
Rentership Jumped While Ownership Stalled
- Renter households jumped 2.6% to about 46.4 million while homeowner households slipped 0.1% to 86.2 million.
- The national homeownership rate fell to roughly 65% as rentership rose to 35% year-over-year.
Big Metro Differences In Ownership Rates
- Metro-level variation is stark: some areas like North Port, FL have near 80% ownership while NYC and LA have under 50% ownership.
- Las Vegas shows rising rentership, reflecting affordability pressure in fast-growing Sunbelt metros.