Week of May 27, 2019

Changes in homeownership

Percentage of total population

Percentage of total population

Percentage of owners by age group

Percentage of owners by age group
Quarter Age < 35 35-44 45-54 55-64 65+
First Quarter 2016 34.2% 58.9% 69.2% 75.7% 78.8%
First Quarter 2019 35.4% 60.3% 69.5% 75.4% 78.5%
Change 1.2% 1.4% 0.3% -0.3% -0.3%
 
Quarter Homeownership
First Quarter 2016 63.5%
Second Quarter 2016 62.9%
Third Quarter 2016 63.5%
Fourth Quarter 2016 63.7%
First Quarter 2017 63.6%
Second Quarter 2017 63.7%
Third Quarter 2017 63.9%
Fourth Quarter 2017 64.2%
First Quarter 2018 64.2%
Second Quarter 2018 64.3%
Third Quarter 2018 64.4%
Fourth Quarter 2018 64.8%
First Quarter 2019 64.2%

Student debt and a lack of affordable starter homes may have caused a decline in homeownership in the first quarter of 2019—the first drop in two years.1 The percentage of the population that owned a home fell by 0.6%—erasing gains from 2018.

In the past four years, ownership has had the strongest growth among Generation X and millennials. Since 2016, it has increased 1.4% among individuals 35 – 44, while rising 1.2% among adults 34 and younger.

However, homeownership among younger adults could remain flat or decline if mortgage rates rise and the shortage of affordable homes persists.

1 Source data: U.S Census Bureau

Data date: 4/25/2019

 

Disclosure content: This publication is provided for your convenience and information only.

Bank of America, N.A., assumes no liability for loss or damage as a result of your reliance on information in this publication. Photos are for illustration purposes only and are not to be construed as an endorsement of a particular product or company.

Unless expressly disclosed otherwise, Bank of America, N.A., is not affiliated with or responsible for the products or services of any company that may be mentioned or depicted in this publication. Our goal is for the contents of this publication to be accurate as of the date this issue was printed. However, we do not guarantee that any content is accurate or complete.

More from this week's issue