Home ownership in MA exceeds national average for first time ever in 2012
It came as a shock to me to discover that home ownership in MA had trailed overall numbers for the US ever since 1900 – until 2012 that is.
First look at this table from 1900 to 2010:
While for the country overall home ownership peaked in 2004 at 69.0% and has declined every year since then to 65.4% in 2012, here is MA we’ve jumped from 59.9% in 2000 to 65.8% in 2012, and have finally exceeded the national average for the first time.
We still, however, rank only 38th of 50 States in home ownership, with 17 States having rates above 70%. The reason we are above the average for the whole country is that the big population States of NY and CA rank below us.
I doubt many people would have guessed that West Virginia has the highest rate in the US at 75.8% – I wouldn’t have.
With some 115 million households in the US, the decline of 3.6% in home ownership since 2004 means that some 4 million fewer households own their own home than did in 2004. That, I suspect, indicates pent up demand in the future.