US Homeownership Rate Rises in 2025Q4

A closer look at the US Census Bureau’s 2025Q4 Housing Vacancy Survey, with analysis from the National Association of Home Builders (NAHB), shows the homeownership rate rose to 65.7%.

NAHB described the increase as modest, noting that housing affordability remains under significant pressure. Elevated mortgage rates and tight housing supply have pushed affordability to a multidecade low.

The Q4 homeownership rate remains 3.5 percentage points below the 2004 peak of 69.2% and below the 25-year average of 66.3%. NAHB cautioned that the data carry a higher level of uncertainty because the government shutdown limited data collection to the final two months of the year.

Year-over-year, homeownership increased in only two age groups. Among householders under 35, the rate rose 1.6 percentage points to 37.9%. Homeownership among those aged 55–64 edged up 0.4 percentage points.

Several age groups recorded declines. The largest drop was among householders aged 45–54, where the rate fell 1.5 percentage points to 69.5%. The rate for those aged 35–44 slipped 0.5 percentage points to 60.9%, while homeownership among householders aged 65 and over declined 0.5 percentage points from a year earlier.

The national rental vacancy rate inched up to 7.2% in Q4, continuing an upward trend that began in 2023. The homeowner vacancy rate held at 1.2%. NAHB said rising vacancy rates point to an increase in existing-home supply.