Homeownership rates are at 1998 levels according to a report released today by the U.S. Census. The homeownership rate of 65.9 percent was 1.0 percentage points (+/-0.4%) lower than the second quarter 2010 rate (66.9 percent) and 0.5 percentage points (+/-0.4%) lower than the rate last quarter (66.4 percent) The homeownership rate reached a record high of 69.2 percent in the second and fourth quarters of 2004.
Also reported were national vacancy rates in the second quarter 2011 of 9.2 percent for rental housing and 2.5 percent for homeowner housing. The rental vacancy rate of 9.2 percent was 1.4 percentage points lower than the rate recorded in the second quarter 2010 (+/-0.5 percentage points) and 0.5 percentage points lower than last quarter (+/-0.4).
Approximately 85.7 percent of the housing units in the United States in the second quarter 2011 were occupied and 14.3 percent were vacant. Owner-occupied housing units made up 56.5 percent of total housing units, while renter-occupied units made up 29.2 percent of the inventory in the second quarter 2011.
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