US Homeownership Rate Little Changed in Q3

On Thursday, the US Census Bureau released its delayed Q3 Residential Vacancies and Homeownership report, showing the national homeownership rate was little changed at 65.3%. The rate was not statistically different from Q3 of last year, when it stood at 65.6%, or from Q2, when it was 65.0%.

Vacancy rates showed mixed results. The rental vacancy rate was 7.1% in Q3, not statistically different from 6.9% a year earlier or 7.0% in Q2. The homeowner vacancy rate rose to 1.2%, higher than 1.0% in 2024Q3 and 1.1% in Q2.

In Q3, the median asking rent for vacant units available for rent was $1,534. The median asking price for vacant homes offered for sale was $365,800.

Approximately 89.7% of US housing units were occupied in Q3, while 10.3% were vacant. Owner-occupied units accounted for 58.6% of total housing units, and renter-occupied units made up 31.1%.

Of total housing units, 2.4% were vacant for rent, 0.7% were vacant for sale only, and 0.7% were rented or sold but not yet occupied. Units held off market accounted for 4.2% of the housing stock, including 1.3% for occasional use, 0.7% by persons with usual residence elsewhere, and 2.2% vacant for other reasons.