Homeownership is the ultimate American dream for many.
Yet, Virginia has seen the largest decline of 8.8 percent in homeownership since 2000 of all states.
The homeownership rate, according to RubyHome Luxury Real Estate, was 73.9 percent in 2000, but declined to 68.7 percent in the following 10 years. The rate increased to 70.4 percent in 2020, before suffering another decline to 67.4 percent in 2022.
The average state experienced a decline of only 1.3 percent.
The second largest decline was in North Dakota with a rate of 70.7 percent in 2000 falling to 65.4 percent, a decline of 7.5 percent in 23 years.
Ohio’s homeownership rate has declined by 7.4 percent, with a rate of 71.3 percent in 2000 falling to an average of 69.1 percent. By 2022, the rate was 66 percent, below the national average of 68 percent.
The fourth largest decline was in Connecticut where a 70 percent rate in 2000 fell to 64.8 percent in 2022, a decline of 7.4 percent like in Ohio.
North Carolina’s rate was 71.1 percent in 2000 and fell to 65.9 percent, a decline of 7.3 percent which was also seen in Georgia. In 2000, 69.9 percent of Georgians owned a home, but that rate fell to 64.7 percent in 2023.
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Rebecca Barnabi
