Redfin Reports U.S. Homeowner Population Stops Growing for First Time in Nearly a Decade

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09/03/2025 - 08:00 AM

Meanwhile, the number of renter households rose 2.6%—one of the biggest increases in recent years

SEATTLE--(BUSINESS WIRE)-- The number of homeowner households in America fell 0.1% year over year to an estimated 86.2 million in the second quarter, according to a new r epo r t from Redfin, the real estate brokerage powered by Rocket. While that’s a marginal decline, it’s the first since 2016.

By comparison, the number of renter households rose 2.6% to an estimated 46.4 million—one of the largest increases in recent years.

This is based on a Redfin analysis of U.S. Census Bureau data. A renter household is defined as one where the head of the household reports to the Census that they are renting out the property, while a homeowner household is one where the head of household reports they own the property.

“America’s homeowner population is no longer growing because rising home prices, high mortgage rates and economic uncertainty have made it increasingly difficult to own a home,” said Chen Zhao, Redfin’s head of economics research. “People are also getting married and starting families later, which means they’re buying homes later—another factor that may be at play.”

The median home sale price rose 1.4% year over year in July to $443,867—the highest July level on record. And mortgage rates currently sit at 6.56%, more than double the all-time low recorded during the pandemic. As a result, more Americans have opted to keep renting rather than buying a home, meaning more people are forgoing home equity—a key way to build wealth.

The good news is that rates have started falling in recent weeks, and are down from a peak of over 7% at the start of the year. That appears to be bringing some buyers off the sidelines.

While the number of homeowners in the U.S. housing market has fallen recently, the homeownership rate has remained relatively steady. It was 65% as of the second quarter, down slightly from 65.6% a year earlier. The rentership rate was 35%, up slightly from 34.4% a year earlier.

To view the full report, including charts and metro-level data, please visit: https://www.redfin.com/news/homeownership-rentership-rate-q2-2025.

About Redfin

Redfin is a technology-driven real estate company with the country's most-visited real estate brokerage website. As part of Rocket Companies (NYSE: RKT), Redfin is creating an integrated homeownership platform from search to close to make the dream of homeownership more affordable and accessible for everyone. Redfin’s clients can see homes first with on-demand tours, easily apply for a home loan with Rocket Mortgage, and save thousands in fees while working with a top local agent.

You can find more information about Redfin and get the latest housing market data and research at Redfin.com/news. For more information about Rocket Companies, visit RocketCompanies.com.