Do most people in US own or rent?

Most people in the U.S. own their homes, with the homeownership rate hovering around 65-66% in recent years, meaning about two-thirds own and one-third rent, though younger Americans are much more likely to rent, while older demographics lean towards ownership. Homeownership rates have been relatively stable or increasing slightly, but significant demographic shifts show young adults overwhelmingly renting compared to older age groups.

What percentage of Americans rent vs own?

National homeownership rate: ~65.0% of households own their homes; ~35% rent (Q2 2025). Rental vacancy rate: 7.0% nationally, up from 6.6% a year earlier (looser rental market). Homeowner vacancy rate: ~1.1%, still extremely low and signaling tight for-sale inventory.

Do most people rent in the USA?

There were over 102 million renters (31.7%) in the U.S. compared to 221 million homeowners (68.2%), according to the official 2021 figures.

Do most Americans own their own homes?

Yes, the majority of Americans own their homes, with the U.S. homeownership rate hovering around 65% in recent years (late 2024/early 2025), meaning about two-thirds of households own their residence, while roughly one-third rent. This figure varies by age, with older adults having much higher rates, and it reflects the percentage of total housing units owned by occupants, notes the U.S. Census Bureau. 

What percentage of Americans are mortgage-free?

According to ResiClub's analysis of the U.S. Census Bureau's new annual data, 40.3% of U.S. owner-occupied housing units are now mortgage-free, marking a new high for this data series. That's up from 39.8% in 2023.

Buying vs Renting A Home - Dave Ramsey Rant

Which country has the highest rate of home ownership?

Countries with the highest homeownership rates are often in Eastern Europe and Asia, with Kazakhstan (around 98%), Romania (over 95%), China (around 96%), and Laos (around 95.9%) frequently topping the lists, driven by factors like post-communism privatization in Romania, cultural emphasis in China and Vietnam, and affordability in some regions, though rates vary by source and year. 

Is $1200 a month good for rent?

The general rule says tenants should spend no more than 30 percent of gross income on monthly rent. If your gross monthly income is $4,000, that equals $1,200 for rent. While this is a helpful starting point, it is not a strict rule. Some renters with high debt payments should spend less than 30 percent.

What percentage of Americans actually pay off their mortgage?

In fact, according to Census Bureau data, nearly 40% of Americans already have. But are you really better off paying off your home mortgage, or are there strategies you can employ to put yourself ahead even more?

Do most Americans live in houses or apartments?

In America about 2/3 of households live in a single family home. And most of these are detached homes (not row houses which are predominantly found in urban areas). Idaho has the most households living in single-family detached housing at 74% - meaning 3 of every 4 households live in a single family home.

Do most millionaires rent or own?

Between 2019 and 2023, the number of households with renters who had incomes of $1 million or more increased from 4,500 to 13,700, a more than 200% increase, according to a RentCafe analysis. 1 As of 2023, one in 11 millionaires is now renting their homes.

What is the 2% rule in rental property?

The 2% rule is a guideline stating that an investment property should generate monthly rent of at least 2% of its purchase price. For example, if a property costs $200,000, it should bring in at least $4,000 per month in rent ($200,000 x 0.02 = $4,000) for the 2% rule to be satisfied.

What percent of Americans have never owned a home?

Around 34-37% of Americans don't own a home, meaning roughly two-thirds (about 63-66%) are homeowners, according to recent data from the U.S. Census Bureau and Federal Reserve, though this number fluctuates with economic conditions, with renting often due to affordability issues like high down payments and interest rates. 

What salary to afford a $400,000 house?

To afford a $400k house, you generally need an annual income between $90,000 and $135,000, though this varies by interest rates, down payment, and debt, with lenders often looking for housing costs under 28% of your gross income (28/36 rule). A lower income might suffice with a large down payment or higher interest, while more debt requires a higher income, potentially pushing the need to over $100k-$120k+ annually. 

Who owns most of the houses in America?

Most houses in America are owned by individual homeowners, with about two-thirds (around 65-69%) being owner-occupied, while the remaining third is split, with small "mom-and-pop" landlords owning the largest share of investment properties, though large corporations (like big investment firms) own a much smaller but growing percentage, especially in specific markets. Key owners are individuals, followed by small local investors, and then larger entities, with significant regional variations in corporate ownership. 

Are more people renting or buying?

More people are renting than buying in terms of growth, with rental households increasing significantly faster than homeowner households, making renting a more prevalent long-term reality for many, especially young adults and older generations, due to persistent high home prices, elevated mortgage rates, and affordability issues, though overall homeownership remains higher numerically. 

How many Americans are 100% debt free?

Around 23% of Americans are debt free, according to the most recent data available from the Federal Reserve.

How much of a mortgage can I afford if I make $70,000 a year?

With a $70,000 salary, you can generally afford a house between $210,000 and $350,000, but your actual budget depends heavily on your credit score, existing debts, down payment, and current mortgage rates, with lenders often following the 28/36 rule (housing costs under 28% of gross income, total debt under 36%). A good starting point is keeping your total monthly housing payment (PITI) under $1,633, but a lower Debt-to-Income (DTI) ratio and larger down payment increase your buying power. 

Do most people retire without a mortgage?

Over the past three decades, the share of homeowners ages 65 to 79 with a mortgage rose from 24% to 41%. More older adults are entering retirement in debt — including mortgage debt. Mortgages make up about 70% of household balances.

How much is $70,000 a year hourly?

$70,000 a year is approximately $33.65 per hour, calculated by dividing the annual salary by 2,080 standard work hours (40 hours/week * 52 weeks/year). This figure represents your gross pay before taxes and other deductions, though variations exist if you work more or fewer hours weekly. 

Can I afford an apartment making $3,000 a month?

30 Percent Rule

Following the 30% rule, your monthly gross income to rent ratio should look something like this: You must make $10,000 per month to afford a $3,000 monthly rent. You must make $6,667 per month to afford a $2,000 monthly rent. You must make $5,000 per month to afford a $1,500 monthly rent.

What is the minimum the government says you can live on?

A single person needs to earn £30,500 a year to reach a minimum acceptable standard of living in 2025. A couple with 2 children needs to earn £74,000 a year between them. April 2025 saw an inflation-based increase in benefits of 1.7%, pegged to the CPI rate in September 2024.

What US city is selling homes for $1?

Louisville, KY, is trying a new approach to neighborhood revival: selling $1 homes in blighted areas. The city hopes new owners will restore the properties and bring life back to these communities. The program, run by Louisville's Landbank Authority, focuses on putting vacant and abandoned homes back into use.

What is the #1 country to live in?

There's no single "number 1" country, as it depends on priorities, but Switzerland often tops overall rankings for quality of life, stability, and business, while Nordic countries like Finland, Denmark, and Norway consistently rank high for happiness, healthcare, and family life, notes U.S. News & World Report, Wikipedia, Wikipedia, Forbes, Conpahouston, Visual Capitalist, I amsterdam, U.S. News & World Report, World Population Review, Global Finance Magazine, Global Citizen Solutions, World Population Review, CurrencyTransfer, Facebook, U.S. News & World Report].
 

Is it true that 90% of people in China own their own homes?

As of 2023, China has one of the highest home ownership rates in the world, with 90% of urban households owning their homes.

Can I afford a 500K house on 100k salary?

You might be able to afford a $500k house on a $100k salary, but it will be tight and depends heavily on your existing debts, credit, down payment, and location; the general guideline (28/36 rule) suggests your total housing costs (PITI) should be around $2,300/month, while some scenarios show you'd need closer to $117k-$140k income or have very little left after housing, taxes, and insurance.