The homeownership rate in the United States has fallen for two consecutive years, and the decline has been steepest among young adults between 25 and 34. Historically the prime ages for first-time homebuyers, young adult homeownership has been driven down to just 30% amid a series of compounding financial hurdles, undoing virtually all of the homeownership gains made over the previous decade.
As a result, not only are more young people renting longer, many are taking a third option: living in someone else’s owned home. This could mean living with parents, grandparents, friends, etc, and in 2025 it accounts for 20 percent of all young adults – more than 9 million people between the ages of 25 and 34.
The Local Outlook:
Young adult homeownership ranges from the low teens in California to the high 30s in the Upper Midwest. In Charlotte metro specifically, it stands at 31.4%, ranking #18 among the nation’s 50 largest markets. We see a strong correlation between homeownership rates, prices, and demand, with higher rates in lower-cost, lower-growth markets and lower rates in the nation’s most expensive, supply-constrained markets.
For more charts, analysis, and commentary, check out the full report:
