Only 53% of Americans own homes, new study finds. Here’s why the figure is raising eyebrows
Housing affordability has been a major national issue in 2025, with mortgage rates, home prices, and rent all shaping where Americans can afford to live. A new study now says only 53% of Americans own homes, a figure that stands out because it is much lower than recent federal estimates. That gap is why the report is getting a second look.
What the study found
The new figure comes from a study released on July 24, 2025, by Construction Coverage, which analyzed housing and Census-related data and reported that 53% of Americans are homeowners. The report said the remaining 47% do not own the homes they live in, putting the country much closer to an even split than many people may expect. That number quickly drew attention because homeownership is often used as a basic measure of household financial stability in the U.S.
The reason the figure is raising eyebrows is simple. The U.S. Census Bureau’s Housing Vacancy Survey placed the national homeownership rate at 65.7% in the first quarter of 2025. That is a difference of 12.7 percentage points from the 53% figure in the new study. The study’s estimate appears to reflect all Americans, including children and other non-owning household members, while the Census rate measures the share of occupied housing units that are owner-occupied.
What it means in states and cities
The national debate matters locally because housing conditions vary sharply by state, metro area, and even neighborhood. In high-cost markets such as California and New York, lower ownership levels are common because prices and monthly payments are higher than the U.S. median. In many Sun Belt and Midwest markets, ownership rates are often higher, according to Census and Redfin market data tracked through 2025.
What is confirmed is that affordability has weakened in many local markets over the past few years. The National Association of Realtors said in 2024 and 2025 affordability remained near multi-decade lows in many metros as elevated rates and limited inventory squeezed buyers. What is not yet known is whether the 53% figure will be adopted by other major data providers, because the study is not the same as the Census Bureau’s official homeownership measure.
Why the number looks so different
The biggest issue is methodology. The Census Bureau counts whether an occupied housing unit is owner-occupied, while a broader population-based approach can divide homeowners by the entire U.S. population, which includes minors and adults who are not on a deed. In a country with more than 330 million residents, that difference can substantially lower the final percentage, even if the number of owner-occupied homes has not suddenly dropped.
Broader housing pressures also help explain why the lower figure feels believable to many readers. Freddie Mac and the National Association of Realtors have said in recent reports that high borrowing costs, constrained supply, and years of price growth have made ownership harder to reach for first-time buyers. For residents, the takeaway is practical: the official U.S. homeownership rate remains in the mid-60% range by Census standards, while affordability data continues to show that buying a home remains difficult in many parts of the country in 2025.
