Feb 11, 2025 - Real Estate
Charted: Our homeownership rate
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About 72% of Detroit-area homes are owner-occupied, compared with over 65% nationally, Census Bureau data shows.
The big picture: Though homeownership rates have slipped for younger adults, persistently high rates among older households keep the national homeownership rate steady, according to researchers at Harvard's Joint Center for Housing Studies.
Zoom in: At 54%, the city of Detroit has a lower share of owner-occupied homes than the metro area.
- Detroit became a majority owner-occupied city in 2021 for the first time in a decade.
- Its percentage rebounded in 2023 after a dip below 50% the previous year, per the Free Press.