Homeownership By Age: Twentysomethings Get Buying Fever
The best things in life may come to those who wait, but that doesnt necessarily include owning your own home. With homeownership rates among the under-30 crowd increasing over the past two decades, your neighbor is likelier to be younger- especially if you own a condominium. In the last 10 years, condos have increased from 6 percent to 13 percent to the total share of homes sold with young professionals moving to revitalized downtown areas and looking for a cheaper entry point than the $230,000 median home cost in the United States.
The chart below details home ownership trends over the last 20 years as compiled by the U.S. Census Bureau. The number reflects the percentage of people in a given age group, who own homes. The first category includes those who are under 29 years old while the last category is everybody over 70.