Homeownership Rates Increase Across Generations
John Toth, President
North Coast Building Industry Association (NCBIA) www.ncbia.com
As the home building industry celebrates National Homeownership Month in June, new data shows that homeownership rates among adults in all age groups increased over the last year.
The Census Bureau’s Housing Vacancy Survey (CPS/HVS) reported the U.S. homeownership rate at 66% in 2025, amid a persistently tight housing supply. A closer look at the data shows that homeownership rates among households aged 35-44 registered the largest gains among all groups, followed by households aged 45-54. Adults 35 years old or younger also experienced a modest increase in homeownership.
It is no surprise that all age groups are making homeownership a priority. Homes are a primary source of net worth for many Americans. The most recent edition of the Survey of Consumer Finances showed that a primary residence is the largest asset for households.
One of the barriers to homeownership is affordability. Home builders recognize the increasing demand for affordable entry-level homes. However, rising construction costs and limited lot availability create significant challenges to building smaller, single-family detached homes that are affordable to first-time buyers and cost-effective for builders.
To help overcome these challenges, home builders, many of which are small businesses and live in our community, continue to advocate for housing affordability so all families can achieve the American Dream of homeownership. Buyers also may find that some home builders have arranged favorable financing for their customers or offer financial incentives.
When it comes to affordability, qualifying for a mortgage and saving up for a downpayment is another obstacle to homeownership. To help address these concerns, Fannie Mae, and Freddie Mac — through the Federal Housing Administration (FHA) offer low-downpayment mortgage programs geared primarily toward the first-time home buyer market. These lenders offer mortgages with lower downpayments, allowing more creditworthy borrowers who lack the funds for a large downpayment to obtain a home mortgage. However, to ensure that the financing process goes smoothly, buyers should consider pre-qualifying for a mortgage and having a financing commitment in place before shopping for a new home.
Learn more about the benefits of homeownership at www.ncbia.com.The North Coast Building Industry Association is your local not-for-profit trade association representing member companies involved in all aspects of home building, remodeling, and other aspects of services available to help you in the future as well as more information on the above topic. So, you can see it is for your protection that you use an NCBIA member. If you are unsure that your contractor is a member of the NCBIA or you are looking for a list of NCBIA members, you can visit our website at www.ncbia.com or call 440-934-1090.
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Homeownership is truly a cornerstone of the American way of life. North Coast Building Industry – Come Build with Us!