Exclusive: What U.S. homeowners do for a living
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Business professionals and educators are most likely to own homes nationwide, according to a new analysis shared exclusively with Axios.
The big picture: The occupations with the highest homeownership rates haven't changed much in the past decade. But higher-earning STEM workers are losing ground as service and sales workers tick up, per the National Association of Realtors analysis of census data.
By the numbers: Management and business professionals continue to lead, with roughly 72% owning homes in 2024, flat from 2014.
- Education and social services workers remain near the top, at 67%, though their homeownership rate edged down over the decade.
- The U.S. overall homeownership rate is around 65%.
Meanwhile, STEM and technical workers have seen a slight dip — falling to 67% in 2024 from 69% in 2014 — likely because they're clustered in expensive housing markets, per NAR.
- Service workers still have the lowest homeownership rate but saw the highest jump since 2014, rising to 46% from 43%.
- Sales and real estate pros also gained, climbing to 63% from 61%.
Reality check: The biggest shifts are local. Even as the national picture holds steady, homeownership varies widely on local housing affordability and job mix, according to NAR.
- "It's not just about jobs. It's really about where those jobs are located, and how affordable housing is in those markets," NAR principal economist Nadia Evangelou tells Axios.
- In around 61% of 368 metro areas analyzed, the occupation most likely to own a home in 2024 wasn't the same as in 2014.
- Management and business workers now lead in half of metros, followed by STEM workers (lead in 24% of metros), then education and social services workers (12%).
Between the lines: A lack of affordable supply is keeping homeownership out of reach for many.
- The national median single-family home price grew to five times the median household income in 2024, according to a recent Harvard report.
The bottom line: "There are not enough homes at the price point people can afford to buy, and that's pushing even strong earners out of homeownership," Evangelou says.
