Homeownership Rate by State (2026): Who Owns vs. Rents in America
By Wealthvieu · Updated
Homeownership is central to the American Dream and the primary wealth-building tool for most families. Here’s who owns, who rents, and why the gaps exist.
Table of Contents
Homeownership Rate by State
Rank
State
Homeownership Rate
Median Home Price
Median HH Income
1
West Virginia
76.3%
$145,000
$50,884
2
Maine
75.8%
$350,000
$64,767
3
Minnesota
75.1%
$325,000
$84,313
4
New Hampshire
74.8%
$425,000
$88,465
5
Michigan
74.5%
$230,000
$63,202
6
Vermont
74.2%
$350,000
$67,674
7
Iowa
73.9%
$210,000
$65,573
8
Idaho
73.5%
$425,000
$65,988
9
Indiana
73.2%
$225,000
$62,743
10
Delaware
72.8%
$350,000
$72,724
—
National Average
65.6%
$420,000
$75,149
42
Texas
63.5%
$310,000
$73,035
43
Massachusetts
63.0%
$585,000
$89,645
44
Nevada
62.0%
$420,000
$66,274
45
Oregon
63.0%
$480,000
$73,893
46
Rhode Island
62.5%
$420,000
$71,169
47
Hawaii
61.0%
$850,000
$84,857
48
California
55.8%
$750,000
$84,907
49
District of Columbia
54.0%
$650,000
$101,722
50
New York
51.4%
$420,000
$75,910
Homeownership by Age
Age Group
Homeownership Rate
Change Since 2005
Under 25
23.5%
-3.0%
25-29
32.0%
-5.5%
30-34
48.5%
-4.0%
35-44
62.0%
-3.5%
45-54
71.5%
-2.0%
55-64
76.0%
-1.5%
65-74
80.5%
+0.5%
75+
78.0%
+1.0%
Younger adults have seen the biggest drops in homeownership. A 30-year-old today is far less likely to own than a 30-year-old in 2005.
Homeownership by Race
Race/Ethnicity
Homeownership Rate
Median Home Equity
Gap vs. White
White (non-Hispanic)
73.8%
$215,000
Baseline
Asian
63.0%
$285,000
-10.8 points
Hispanic/Latino
49.5%
$165,000
-24.3 points
Black/African American
44.7%
$130,000
-29.1 points
Native American
52.0%
$110,000
-21.8 points
The Black-White homeownership gap (29.1 points) is wider today than it was in 1960, when discriminatory lending was legal.
Homeownership by Income
Household Income
Homeownership Rate
Can Afford Median Home?
Under $25,000
38%
No
$25,000-$49,999
52%
No
$50,000-$74,999
65%
Borderline
$75,000-$99,999
75%
In affordable markets
$100,000-$149,999
82%
Yes, most markets
$150,000+
88%
Yes, nearly all markets
Historical Homeownership Trend
Year
National Rate
Key Context
1940
43.6%
Pre-FHA, pre-GI Bill
1950
55.0%
Post-war GI Bill boom
1960
61.9%
Suburban expansion
1970
62.9%
Stable growth
1980
64.4%
Inflation era
1990
63.9%
Slight decline
2000
67.4%
Clinton-era push for ownership
2005
69.0%
Peak (pre-crisis)
2010
66.9%
Post-crisis decline
2016
63.4%
Post-crisis bottom
2020
65.8%
Pandemic-era rebound
2024
65.6%
Stable, affordability constrained
Renters vs. Owners: By the Numbers
Metric
Homeowners
Renters
Number of households
86.3 million
45.0 million
Median household income
$86,000
$42,500
Median net worth
$396,000
$10,400
Median age of head
55
40
Housing cost as % of income
21%
31%
Cost-burdened (>30% of income)
21%
49%
Severely burdened (>50% of income)
7%
24%
The median homeowner has 38x the net worth of the median renter — driven primarily by home equity accumulation.
What Drives Homeownership Gaps
Factor
Impact on Homeownership
Income inequality
Higher income → more likely to afford down payment + qualify
Student loan debt
Delays saving for down payment by 4-7 years
Discrimination history
Redlining effects persist in wealth gaps
Credit score differences
Lower scores → harder to qualify or higher rates
Housing costs vs. wages
Prices rising 3x faster than incomes since 2019
Down payment barriers
Median down payment for first-time buyers: $26,000
Zoning restrictions
Limit housing supply, especially affordable types
Generational wealth transfers
Family help with down payment strongly predicts ownership
