What's Hot: The 4 Big Developments Planned Around DC's Starburst Intersection | The DC Neighborhood Where the Few Homes That Sell Move Quickly
Homeownership Rates Down in Region

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.
This article originally published at https://dc.urbanturf.com/articles/blog/homeownership_rates_down_in_dc/5520.
Most Popular... This Week • Last 30 Days • Ever

In this edition of First-Timer Primer, we look into the question of how to determine ... read »

The preferred mortgage product among most home buyers is the fixed-rate mortgage. How... read »

Here's what you need to know about reporting profit made from the sale of your home.... read »

A Roth IRA is one of those accounts that people feel is totally off limits until you ... read »

The latest edition of What $1.5 Million Buys includes a Falls Chuch home reminiscent ... read »
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. Visit guides.urbanturf.com or start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro