Home | Newsletter | Advertise
loading...

Homeownership Rates Down in Region

  • May 14th 2012

by Shilpi Paul

✉️ Want to forward this article? Click here.

Homeownership Rates Down in Region: Figure 1

With the news that the home ownership rate in the US has fallen to a 15-year low, UrbanTurf was curious about how our region compared with the national trend.

Lisa Sturtevant, a professor at George Mason’s Center for Regional Analysis, told UrbanTurf that, over the last few years, home ownership rates in the Washington, DC Metropolitan Statistical Area (MSA) have fallen further than the rest of the country. The 2010 Census shows home ownership at 64.3 percent in the MSA (which includes several counties in Maryland and Virginia and one in West Virginia), down from 67.9 percent in 2006. Nationally, homeownership went from 68.8 percent to 66.9 percent in the same period.

Most other major cities have seen falling rates as well: San Francisco fell to 54.4 percent from 58.4 percent, and Chicago to 66 percent from 68.8 percent. While home ownership rates for those above 35 rose slightly between 2006 and 2010, rates for those under 35 fell, from 13.7 percent to 11.3 percent.

Correspondingly, more folks are choosing to rent and and the DC region currently has one of the lowest rental vacancy rates in the country, although that is due to change in the coming year.

See other articles related to: census, ownership

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/homeownership_rates_down_in_dc/5520.

DC Real Estate Guides

Short guides to navigating the DC-area real estate market

We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!

First-Timer Primers

Intro guides for first-time home buyers

Red Flags Revealed During a Home Inspection Top 5 Tax Breaks For Homeowners Tax Relief for DC Homeowners
Condo Fee Tutorial What is a Rent Back? 10 Ways To Tell If a Home Renovation is Well Done
Obtaining a Basic Business License For Your Rental What is an Adjustable Rate Mortgage? The Splitting the Rent Formula
How Much Cash Do You Need to Buy a House? Is This Condo Building Financially Healthy? Interest Rates and Mortgage Points
The Scoop on Mortgage Insurance

Unique Spaces

Awesome and unusual real estate from across the DC Metro

The Most Intriguing Loft in DC The R Street Firehouse DC’s One-Room House
Dupont Circle’s Old Frat House To Become Alley Home Best Transition From a Garage To a Home The Roundhouse
Tilden Gardens Restaurant-Turned-Home Hits Market Next Week Logan Circle’s Most Intriguing Garage Frank Lloyd Wright Goes Green in Kensington
Sears Bungalow Gets a Modern Makeover Old Town General Store Becomes Three-Level Home Making the Most of a Skinny House
A Studio 27 Renovation on Capitol Hill Once a Carriage House, Now a Home The Bank that Became a Home
From Pie to Hooch to Heroin to Home The Live-Aboards of Gangplank Marina A Treehouse with Rock Creek Park As A Backyard
Modern Tranquility in Sperryville Saddle Up For Stable Living Throwing a Curve at 550 Square Feet
A Modern Hilltop Retreat Tilden Street Restaurant Becomes Spacious Home Focus on Design: A Vastu Unit at 22 West
The DC Area’s First Net Zero Home A Yankee Goes Green DC’s First Carbon Neutral Home
Eco-Friendly Alley House Off H Street The Gym, The Stables and The Firehouse