The American housing market took off during the early months of the COVID-19 pandemic. The homeownership rate – or the share of housing units occupied by their owner – jumped by 2.6 percentage points from the first quarter to the second quarter of 2020, by far the largest increase ever recorded. By the end of 2020, there were 2.1 million more homeowners in the United States than there were a year earlier.
The surge in home sales was fueled by several factors, including historically low mortgage rates, and, as many experts speculate, the pandemic, which led many Americans to re-evaluate where and how they live. Here is a look at the mortgage rate in America every year since 1972.
Nationwide, the homeownership rate stands at 64.4%, according to the latest American Community Survey data from the U.S. Census Bureau. This rate varies substantially from state to state, however.
Using census data, 24/7 Wall St. identified the states with the highest homeownership rates. States are ranked by the share of housing units occupied by their owners, from smallest to largest.
Depending on the state, homeownership rates range from 54.1% to 73.7%. Many states with the lowest homeownership rates are home to major urban centers with large rental markets, while many states with high homeownership rates have large rural populations.
Generally, in the states with the lowest homeownership rates home values tend to be high , making homeownership prohibitively expensive for larger shares of the population. In eight of the 10 states with the lowest homeownership rates, the median home value exceeds the $229,800 value of the typical American home. Here is a look at the 20 cities where the middle class can no longer afford housing.
Click here to see states where the most people own their homes
Click here to see our detailed methodology
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50. New York
> Homeownership rate: 54.1%
> Median home value: $325,000 (9th highest)
> Median monthly housing costs (w/ a mortgage): $2,174 (5th highest)
> Median monthly housing costs (no mortgage): $781 (5th highest)
> Median household income: $71,117 (14th highest)
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49. California
> Homeownership rate: 55.3%
> Median home value: $538,500 (2nd highest)
> Median monthly housing costs (w/ a mortgage): $2,422 (3rd highest)
> Median monthly housing costs (no mortgage): $618 (10th highest)
> Median household income: $78,672 (6th highest)
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48. Nevada
> Homeownership rate: 57.1%
> Median home value: $290,200 (11th highest)
> Median monthly housing costs (w/ a mortgage): $1,574 (21st highest)
> Median monthly housing costs (no mortgage): $433 (16th lowest)
> Median household income: $62,043 (25th lowest)
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47. Hawaii
> Homeownership rate: 60.3%
> Median home value: $636,400 (the highest)
> Median monthly housing costs (w/ a mortgage): $2,443 (2nd highest)
> Median monthly housing costs (no mortgage): $540 (17th highest)
> Median household income: $83,173 (4th highest)
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46. Rhode Island
> Homeownership rate: 61.6%
> Median home value: $276,600 (14th highest)
> Median monthly housing costs (w/ a mortgage): $1,879 (11th highest)
> Median monthly housing costs (no mortgage): $745 (6th highest)
> Median household income: $70,305 (15th highest)
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45. Texas
> Homeownership rate: 62.3%
> Median home value: $187,200 (20th lowest)
> Median monthly housing costs (w/ a mortgage): $1,654 (16th highest)
> Median monthly housing costs (no mortgage): $526 (19th highest)
> Median household income: $63,826 (21st highest)
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44. North Dakota
> Homeownership rate: 62.5%
> Median home value: $199,900 (25th lowest)
> Median monthly housing costs (w/ a mortgage): $1,457 (25th lowest)
> Median monthly housing costs (no mortgage): $476 (22nd lowest)
> Median household income: $65,315 (19th highest)
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43. Massachusetts
> Homeownership rate: 62.5%
> Median home value: $398,800 (3rd highest)
> Median monthly housing costs (w/ a mortgage): $2,268 (4th highest)
> Median monthly housing costs (no mortgage): $829 (3rd highest)
> Median household income: $84,385 (3rd highest)
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42. Oregon
> Homeownership rate: 62.8%
> Median home value: $336,700 (7th highest)
> Median monthly housing costs (w/ a mortgage): $1,741 (14th highest)
> Median monthly housing costs (no mortgage): $553 (14th highest)
> Median household income: $65,667 (18th highest)
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41. Washington
> Homeownership rate: 63.3%
> Median home value: $366,800 (5th highest)
> Median monthly housing costs (w/ a mortgage): $1,939 (9th highest)
> Median monthly housing costs (no mortgage): $605 (11th highest)
> Median household income: $77,006 (9th highest)
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40. New Jersey
> Homeownership rate: 64.0%
> Median home value: $343,500 (6th highest)
> Median monthly housing costs (w/ a mortgage): $2,476 (the highest)
> Median monthly housing costs (no mortgage): $1,062 (the highest)
> Median household income: $85,245 (2nd highest)
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39. Georgia
> Homeownership rate: 64.0%
> Median home value: $190,200 (23rd lowest)
> Median monthly housing costs (w/ a mortgage): $1,449 (23rd lowest)
> Median monthly housing costs (no mortgage): $435 (17th lowest)
> Median household income: $61,224 (22nd lowest)
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38. Alaska
> Homeownership rate: 64.8%
> Median home value: $275,600 (15th highest)
> Median monthly housing costs (w/ a mortgage): $1,937 (10th highest)
> Median monthly housing costs (no mortgage): $591 (12th highest)
> Median household income: $77,790 (8th highest)
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37. Arizona
> Homeownership rate: 65.3%
> Median home value: $242,000 (19th highest)
> Median monthly housing costs (w/ a mortgage): $1,464 (25th highest)
> Median monthly housing costs (no mortgage): $430 (15th lowest)
> Median household income: $61,529 (23rd lowest)
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36. North Carolina
> Homeownership rate: 65.7%
> Median home value: $182,100 (19th lowest)
> Median monthly housing costs (w/ a mortgage): $1,328 (17th lowest)
> Median monthly housing costs (no mortgage): $402 (11th lowest)
> Median household income: $56,642 (12th lowest)
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35. Arkansas
> Homeownership rate: 65.8%
> Median home value: $133,600 (3rd lowest)
> Median monthly housing costs (w/ a mortgage): $1,103 (2nd lowest)
> Median monthly housing costs (no mortgage): $353 (3rd lowest)
> Median household income: $49,475 (3rd lowest)
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34. Connecticut
> Homeownership rate: 66.1%
> Median home value: $279,700 (13th highest)
> Median monthly housing costs (w/ a mortgage): $2,127 (6th highest)
> Median monthly housing costs (no mortgage): $900 (2nd highest)
> Median household income: $79,855 (5th highest)
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33. Oklahoma
> Homeownership rate: 66.1%
> Median home value: $142,400 (4th lowest)
> Median monthly housing costs (w/ a mortgage): $1,246 (7th lowest)
> Median monthly housing costs (no mortgage): $406 (12th lowest)
> Median household income: $53,840 (8th lowest)
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32. Nebraska
> Homeownership rate: 66.2%
> Median home value: $164,000 (13th lowest)
> Median monthly housing costs (w/ a mortgage): $1,412 (21st lowest)
> Median monthly housing costs (no mortgage): $539 (18th highest)
> Median household income: $63,015 (25th highest)
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31. Kansas
> Homeownership rate: 66.2%
> Median home value: $157,600 (10th lowest)
> Median monthly housing costs (w/ a mortgage): $1,400 (19th lowest)
> Median monthly housing costs (no mortgage): $517 (20th highest)
> Median household income: $61,091 (21st lowest)
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30. Colorado
> Homeownership rate: 66.2%
> Median home value: $369,900 (4th highest)
> Median monthly housing costs (w/ a mortgage): $1,808 (13th highest)
> Median monthly housing costs (no mortgage): $488 (25th lowest)
> Median household income: $75,231 (11th highest)
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29. Florida
> Homeownership rate: 66.2%
> Median home value: $232,000 (22nd highest)
> Median monthly housing costs (w/ a mortgage): $1,539 (22nd highest)
> Median monthly housing costs (no mortgage): $513 (21st highest)
> Median household income: $57,703 (14th lowest)
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28. Ohio
> Homeownership rate: 66.3%
> Median home value: $151,400 (8th lowest)
> Median monthly housing costs (w/ a mortgage): $1,286 (11th lowest)
> Median monthly housing costs (no mortgage): $480 (23rd lowest)
> Median household income: $58,116 (15th lowest)
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27. Illinois
> Homeownership rate: 66.3%
> Median home value: $202,100 (25th highest)
> Median monthly housing costs (w/ a mortgage): $1,709 (15th highest)
> Median monthly housing costs (no mortgage): $650 (8th highest)
> Median household income: $68,428 (17th highest)
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26. Tennessee
> Homeownership rate: 66.5%
> Median home value: $177,600 (18th lowest)
> Median monthly housing costs (w/ a mortgage): $1,272 (9th lowest)
> Median monthly housing costs (no mortgage): $389 (10th lowest)
> Median household income: $54,833 (9th lowest)
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25. Louisiana
> Homeownership rate: 66.6%
> Median home value: $168,100 (14th lowest)
> Median monthly housing costs (w/ a mortgage): $1,310 (14th lowest)
> Median monthly housing costs (no mortgage): $344 (2nd lowest)
> Median household income: $50,800 (4th lowest)
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24. Virginia
> Homeownership rate: 66.7%
> Median home value: $282,800 (12th highest)
> Median monthly housing costs (w/ a mortgage): $1,822 (12th highest)
> Median monthly housing costs (no mortgage): $481 (24th lowest)
> Median household income: $76,398 (10th highest)
23. Maryland
> Homeownership rate: 67.1%
> Median home value: $325,400 (8th highest)
> Median monthly housing costs (w/ a mortgage): $2,038 (7th highest)
> Median monthly housing costs (no mortgage): $633 (9th highest)
> Median household income: $87,063 (the highest)
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22. Wisconsin
> Homeownership rate: 67.1%
> Median home value: $189,200 (22nd lowest)
> Median monthly housing costs (w/ a mortgage): $1,436 (22nd lowest)
> Median monthly housing costs (no mortgage): $556 (13th highest)
> Median household income: $63,293 (24th highest)
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21. Missouri
> Homeownership rate: 67.1%
> Median home value: $163,600 (12th lowest)
> Median monthly housing costs (w/ a mortgage): $1,287 (12th lowest)
> Median monthly housing costs (no mortgage): $449 (19th lowest)
> Median household income: $57,290 (13th lowest)
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20. Kentucky
> Homeownership rate: 67.6%
> Median home value: $147,100 (5th lowest)
> Median monthly housing costs (w/ a mortgage): $1,191 (5th lowest)
> Median monthly housing costs (no mortgage): $379 (8th lowest)
> Median household income: $52,238 (7th lowest)
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19. South Dakota
> Homeownership rate: 68.0%
> Median home value: $174,600 (16th lowest)
> Median monthly housing costs (w/ a mortgage): $1,367 (18th lowest)
> Median monthly housing costs (no mortgage): $495 (23rd highest — tied)
> Median household income: $59,896 (20th lowest)
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18. New Mexico
> Homeownership rate: 68.0%
> Median home value: $175,700 (17th lowest)
> Median monthly housing costs (w/ a mortgage): $1,293 (13th lowest)
> Median monthly housing costs (no mortgage): $360 (5th lowest)
> Median household income: $51,243 (5th lowest)
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17. Montana
> Homeownership rate: 68.5%
> Median home value: $244,900 (18th highest)
> Median monthly housing costs (w/ a mortgage): $1,456 (24th lowest)
> Median monthly housing costs (no mortgage): $451 (20th lowest)
> Median household income: $56,539 (11th lowest)
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16. Mississippi
> Homeownership rate: 68.8%
> Median home value: $125,500 (2nd lowest)
> Median monthly housing costs (w/ a mortgage): $1,161 (4th lowest)
> Median monthly housing costs (no mortgage): $358 (4th lowest)
> Median household income: $46,511 (the lowest)
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15. Pennsylvania
> Homeownership rate: 69.0%
> Median home value: $187,500 (21st lowest)
> Median monthly housing costs (w/ a mortgage): $1,505 (23rd highest)
> Median monthly housing costs (no mortgage): $542 (16th highest)
> Median household income: $63,627 (22nd highest)
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14. Alabama
> Homeownership rate: 69.2%
> Median home value: $149,600 (7th lowest)
> Median monthly housing costs (w/ a mortgage): $1,196 (6th lowest)
> Median monthly housing costs (no mortgage): $367 (6th lowest)
> Median household income: $52,035 (6th lowest)
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13. Indiana
> Homeownership rate: 69.5%
> Median home value: $148,900 (6th lowest)
> Median monthly housing costs (w/ a mortgage): $1,155 (3rd lowest)
> Median monthly housing costs (no mortgage): $416 (13th lowest)
> Median household income: $58,235 (16th lowest)
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12. South Carolina
> Homeownership rate: 70.1%
> Median home value: $170,100 (15th lowest)
> Median monthly housing costs (w/ a mortgage): $1,265 (8th lowest)
> Median monthly housing costs (no mortgage): $377 (7th lowest)
> Median household income: $54,864 (10th lowest)
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11. Utah
> Homeownership rate: 70.5%
> Median home value: $305,400 (10th highest)
> Median monthly housing costs (w/ a mortgage): $1,597 (19th highest)
> Median monthly housing costs (no mortgage): $437 (18th lowest)
> Median household income: $74,197 (12th highest)
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10. Idaho
> Homeownership rate: 70.8%
> Median home value: $235,600 (21st highest)
> Median monthly housing costs (w/ a mortgage): $1,312 (15th lowest — tied)
> Median monthly housing costs (no mortgage): $388 (9th lowest)
> Median household income: $58,915 (17th lowest)
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9. Wyoming
> Homeownership rate: 71.0%
> Median home value: $228,000 (24th highest)
> Median monthly housing costs (w/ a mortgage): $1,474 (24th highest)
> Median monthly housing costs (no mortgage): $429 (14th lowest)
> Median household income: $65,304 (20th highest)
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8. New Hampshire
> Homeownership rate: 71.2%
> Median home value: $272,300 (16th highest)
> Median monthly housing costs (w/ a mortgage): $1,967 (8th highest)
> Median monthly housing costs (no mortgage): $812 (4th highest)
> Median household income: $77,923 (7th highest)
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7. Iowa
> Homeownership rate: 71.2%
> Median home value: $153,900 (9th lowest)
> Median monthly housing costs (w/ a mortgage): $1,279 (10th lowest)
> Median monthly housing costs (no mortgage): $495 (23rd highest — tied)
> Median household income: $61,836 (24th lowest)
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6. Vermont
> Homeownership rate: 71.3%
> Median home value: $230,900 (23rd highest)
> Median monthly housing costs (w/ a mortgage): $1,630 (17th highest)
> Median monthly housing costs (no mortgage): $686 (7th highest)
> Median household income: $63,477 (23rd highest)
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5. Delaware
> Homeownership rate: 71.4%
> Median home value: $258,300 (17th highest)
> Median monthly housing costs (w/ a mortgage): $1,591 (20th highest)
> Median monthly housing costs (no mortgage): $475 (21st lowest)
> Median household income: $69,110 (16th highest)
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4. Michigan
> Homeownership rate: 71.7%
> Median home value: $162,600 (11th lowest)
> Median monthly housing costs (w/ a mortgage): $1,312 (15th lowest — tied)
> Median monthly housing costs (no mortgage): $495 (23rd highest — tied)
> Median household income: $59,234 (18th lowest)
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3. Minnesota
> Homeownership rate: 71.9%
> Median home value: $235,700 (20th highest)
> Median monthly housing costs (w/ a mortgage): $1,606 (18th highest)
> Median monthly housing costs (no mortgage): $548 (15th highest)
> Median household income: $73,382 (13th highest)
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2. Maine
> Homeownership rate: 72.9%
> Median home value: $198,000 (24th lowest)
> Median monthly housing costs (w/ a mortgage): $1,404 (20th lowest)
> Median monthly housing costs (no mortgage): $500 (22nd highest)
> Median household income: $59,489 (19th lowest)
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1. West Virginia
> Homeownership rate: 73.7%
> Median home value: $123,200 (the lowest)
> Median monthly housing costs (w/ a mortgage): $1,058 (the lowest)
> Median monthly housing costs (no mortgage): $331 (the lowest)
> Median household income: $48,037 (2nd lowest)
Methodology
To determine the states with the highest homeownership rates, 24/7 Wall St. reviewed five-year estimates of the share of housing units that are occupied by their owners from the U.S. Census Bureau’s 2020 American Community Survey.
States were ranked based on the percentage of housing units that are occupied by their owners. To break ties, we used the number of housing units that are occupied by their owners.
Additional information on median home value, median housing costs with and without a mortgage, and median household income are also five-year estimates from the 2020 ACS. Because the Census Bureau didn’t release one-year estimates for 2020 due to data collection issues caused by the COVID-19 pandemic, all ACS data are five-year estimates.
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