Two-thirds of americans have not changed view on homeownership

Chicago, USA Photo: Daniel Dionne

The research, conducted by NeighbourWorks, found that seven in 10 US adults own their own homes, while 28 per cent are renters. Compared to homeowners, renters tend to be younger, less well-educated and have lower incomes.

 African-Americans are more likely to be renters then Hispanics or whites, with 44 per cent renting a home, compared to just 25 per cent whites.

Rentership is most common (44 per cent) in large urban areas and least common in smaller, rural areas. 

Two-thirds of adults say their opinion of homeownership has not changed over the past five years. Those whose opinions have shifted, though, say it is more likely to say it has changed for the worse.

Indeed, the idea that homeownership is central to the American Dream appears to be slowly shifting: only half of renters say that owning a home is central to the American dream, compared to 65 per cent of homeowners. Among renters, those who are considering buying a home are more likely than those who are not to consider homeownership a key part of the American dream.

People living in major urban centers (51 per cent), and Westerners (51 per cent)  are less likely than others to consider homeownership a key part of the American dream.

Other responses suggest that homeownership is not the be-all-and-end-all. Indeed, 55 per cent of respondents disagreed with the statement: “I would feel less successful if never owned a home.”