The desire to own a home is still strong today. In fact, according to the Census, the U.S. homeownership rate is on the rise. To illustrate the increase, the graph below shows the homeownership rate over the last year:
That data shows more than half of the U.S. population live in a home they own, and the percentage is growing with time.
If you’re thinking about buying a home this year, here are just a few reasons why so many people see the value of homeownership.
Why Are More People Becoming Homeowners?
There are several benefits to owning your home. A significant one, especially when inflation is high like it is today, is that homeownership can help protect you from rising costs. Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), explains:
“In the 1970s, when inflation was running around 10%, home prices were rising at approximately the same rate. Renters actually have a harder time in inflationary periods, because rents tend to rise along with inflation, whereas mortgage payments stay the same for homeowners with fixed-rate mortgages.”
When you buy a home with a fixed-rate mortgage, you can lock in what’s likely your biggest monthly expense – your housing payment – for the duration of that loan, often 15-30 years.
That gives you a predictable monthly housing expense that can benefit you in the short term, but you’ll also gain equity over time as your home appreciates in value and you make your monthly mortgage payment.
And with that growing equity, your net worth will increase as well. In fact, the latest data from NAR shows the median household net worth of a homeowner is roughly $300,000, while the median net worth of renters is only about $8,000. That means a homeowner’s net worth is nearly 40 times that of a renter.
Bottom Line
The U.S. homeownership rate is growing. If you’re ready to purchase the home of your dreams, let’s connect so you can begin the homebuying process today.
Chrysti Tovani is a Fair Oaks Real Estate Advisor, Transition Specialist, and the author of Downsizing with Intention. She helps homeowners sell long held homes, downsize with clarity, and navigate major life transitions with confidence and strategic guidance.
With decades of experience in real estate, mortgage, and title, Chrysti brings deep industry knowledge and thoughtful preparation to every transaction. Her approach blends strategic home marketing, skilled negotiation, and emotional intelligence, ensuring that each move is handled with both precision and care.
As the founder of I Love Fair Oaks, a hyperlocal media platform highlighting trusted businesses and community life in Fair Oaks, California, Chrysti has built an integrated authority ecosystem that connects real estate expertise with community leadership.
Her work centers on clarity, visibility, and long term legacy, helping clients move forward with confidence while strengthening the community she serves.
Buying a home is a major life decision. That’s true whether you’re purchasing for the first time or selling your house to fuel a move. And if you’re planning to buy a home, you might be hearing about today’s shifting market and wondering what it means for you. While mortgage rates are higher than they […]
While watching the stock market recently may have started to feel pretty challenging, checking the value of your home should come as welcome relief in this volatile time. If you’re a homeowner, your net worth got a big boost over the past few years thanks to rising home prices. And that increase in your wealth […]![Don’t Let Rising Inflation Delay Your Homeownership Plans [INFOGRAPHIC]](https://chrystitovani.com/wp-content/uploads/2022/05/20220520-KCM-Share-549x300-1.png)
![Don’t Let Rising Inflation Delay Your Homeownership Plans [INFOGRAPHIC] | Simplifying The Market](https://files.simplifyingthemarket.com/wp-content/uploads/2022/05/18153625/20220520-KCM-Share-549x300.png)
If you’re thinking about buying a home, you’re likely trying to juggle your needs, current mortgage rates, home prices, your schedule, and more to try to decide if you want to jump into the market. If this sounds like you, here’s one key factor that could help you with your decision: there are more homes for […]