RISMedia
The homeownership rate spiraled to its lowest point in 50 years earlier this year, and while it picked up in the third quarter, it remains off its recent peak. The populations bearing out the trend the most, according to a new analysis by the Pew Research Center, are low-income, minority, renter, and young adult households.
For low-income households—a term that assumes three-person households earning an annual income of $44,000 or less—the homeownership rate has fallen from 52.9 percent in 2005 to 41.7 percent today. The rate among middle- and high-income households ($44,000-$132,000 and $132,000 or more, in order), to compare, fell from 73.8 percent in 2004 to 68.3 percent today and 86.6 percent in 2004 to 80.3 percent today, respectively.
