More Homeowners Than Renters 2019-2023

Between 2019 and 2023, nearly all U.S. counties had more homeowners than renters, according to the United States Census Bureau. 

“The number of owner-occupied housing units increased by 8.4%, from 76.4 million in 2014-2018 to 82.9 million in 2019-2023,” the Census Bureau reported via press release. Moreover, data from the 2019-2023 American Community Survey showed that more people owned homes than rented in 3,070 out of 3,144 counties nationwide. 

In the past decade, home values increased 21.7%, from a median of $249,400 to $303,400 (adjusted for inflation). Additionally, the number of owner-occupied households without a mortgage increased from 36.9% of owned homes to 38.8%.  

Data also showed that the amount of income that goes toward housing costs has differed between renters and owners, with renters traditionally paying more of their income toward housing. In 2019-2023, there were 20 million rented units paying more than 30% of their monthly income toward housing costs, as opposed to 17.3 million owned units. Median gross rent (rent plus utilities) increased nationally from $1,246 to $1,348 per month. 

Still, although the overall share of households that rented decreased, the number of rented units increased by over a million units (43.3 million to 44.6 million).