- 73.8% of Vermont's residents are homeowners, the fifth-highest in the nation.
- West Virginia has the highest homeownership rates in the U.S., with 80.5% of residents owning a home by the end of 2024.
- Michigan and Mississippi share second place at 76.4%, while New York ranks last, with just 51.3% of residents owning their homes.
- The Northeast struggles most with homeownership, with New York, Massachusetts, Rhode Island, and New Jersey all landing in the national bottom ten.
Vermont Business Magazine A new study has identified West Virginia as the state with the highest homeownership rate in America.
The study, conducted by Stage Properties Brokers LLC, identified the U.S. states with the highest homeownership rates in America. Using U.S. Census data from all 50 states, the analysis tracked homeownership trends across quarterly periods throughout 2024, the most recent full annual data.
The results were used to determine not only which state recorded the highest homeownership rate by the end of the year, but also how those rates fluctuated over time. The final rankings were based on the percentage of each state’s population that owned their home in the last quarter of 2024.
West Virginia ranks first in the nation for homeownership, as 80.5% of its population owned their homes in Q4 of 2024. This means more than four in five residents are homeowners, securing the Mountain State’s position at the top of the national rankings.
Tied for second place are Michigan and Mississippi, both posting identical homeownership rates of 76.4%. Both states showed strong performance throughout 2024, with Mississippi reaching as high as 78.8% in the third quarter before slightly declining.
Delaware secured third place, recording a 75.7% homeownership rate, maintaining relatively consistent numbers throughout the year. The state started 2024 with a slightly higher rate of 76.2% but showed only minor fluctuations across quarters.
Wyoming ranked fourth, with a 73.9% homeownership rate in Q4 2024. The sparsely populated western state maintained stable homeownership numbers throughout the year, staying above 72% across all quarters.
Vermont rounds out the top five, with a 73.8% homeownership rate, showing a slight decrease from its 75.1% peak in Q3. The state's high homeownership rates only saw small fluctuations throughout the year.
Close behind in sixth place is Pennsylvania, which recorded a 73.7% rate by the end of the year. The state saw one of the most notable late-year increases, jumping from 70.3% in Q3 to its 3.4% higher Q4 position.
Seventh place goes to Iowa, with a 73% homeownership rate. The Midwestern state demonstrated resilience after a mid-year dip, rebounding to finish strong in the fourth quarter.
South Carolina ranked eighth with a 72.7% rate, continuing the strong showing of Southern states in homeownership statistics. The state improved by 3% from 69.7% in Q2 to its final Q4 position.
Kentucky ranked ninth, with a 72.4% homeownership rate. The state showed the most improvement among top-ranked states, climbing from 67.0% in Q2 to its final position, representing a 5.4 percentage point increase.
Rounding out the top 10 is Montana, with a homeownership rate of 72.3% by the end of 2024. Montana has seen only a slight increase of 0.1% between Q1 and Q4, but saw a slight drop in ownership rates in between.
Top 10 states with the highest homeownership rates
At the other end of the ranking, New York recorded the lowest homeownership rate in the nation at just 51.3% in Q4 of 2024. The Empire State has just over half of its residents owning their homes by the year's end.
California ranked second-lowest with a 55.5% homeownership rate. The Golden State's rate remained remarkably consistent throughout 2024, fluctuating by just half a percentage point across all four quarters.
Hawaii placed third from the bottom with a 60.1% homeownership rate. The state's position reflects its notoriously high housing costs, which often place homeownership out of reach for many residents.
Massachusetts ranked fourth-lowest with a 61.2% homeownership rate. The state saw its rate decline from 65.4% in Q2 to its final Q4 position, representing one of the steepest drops among all states.
Colorado rounds out the bottom five with a 61.3% homeownership rate. The state experienced the most dramatic decline of any state, falling from 67.8% in Q3 to 61.3% in Q4, a drop of 6.5 percentage points.
Nevada holds the sixth-lowest homeownership rate in the nation, finishing 2024 at 61.7% in Q4. The year began slightly stronger at 62.9% in Q1 before slipping to 61.6% in Q2 and hitting a low of 59.6% in Q3.
New Jersey ranks seventh-lowest with a 62.3% homeownership rate. The state experienced significant volatility throughout 2024, peaking at 66.0% in Q2 before declining in subsequent quarters.
Tied for eighth-lowest are Texas and Georgia, both with identical homeownership rates of 63.2%. Each state experienced declines from their mid-year highs, with Georgia in particular showing sharp fluctuations throughout 2024.
Washington ranked ninth with a 65.5% homeownership rate, tying with Rhode Island. While the Evergreen State grew from a low Q1 of 63.8%, its overall rate still reflects a comparatively subdued recovery by the end of the year.
North Carolina rounds out the top 10, with a homeownership rate of 65.7% by the end of 2024. The state experienced a drop to 63.5% in Q2 and Q3 but had an overall 0.4% increase from the start to the end of the year.
Top 10 states with the lowest homeownership rates
Ghassan Saliba, CEO of Stage Properties Brokers LLC, said: “The data highlights just how uneven the homeownership landscape remains across the United States. While some states continue to show strong, stable ownership levels, others are struggling under the weight of rising affordability pressures.
"States at the top of the rankings, particularly West Virginia, tend to benefit from more affordable housing markets and steadier local economies. These conditions make it easier for residents to buy, hold onto, and build long-term wealth through property ownership.
“At the lower end of the scale, high property prices relative to income, intense urban competition, and limited housing supply are creating significant barriers. In many of these markets, property buyers are being priced out before they even have a chance to enter the market.
“For Americans hoping to purchase their first home, this study reinforces how important location has become. Being open to relocating to areas with stronger ownership rates could offer far more realistic and sustainable pathways into homeownership.”
Full ranking of homeownership rates by state
|
Rank |
State |
Q1 2024 (%) |
Q2 2024 (%) |
Q3 2024 (%) |
Q4 2024 (%) |
|
1. |
West Virginia |
79.4 |
78.3 |
78.4 |
80.5 |
|
2(=). |
Michigan |
71.3 |
72.1 |
73.4 |
76.4 |
|
2(=). |
Mississippi |
72.8 |
75.4 |
78.8 |
76.4 |
|
3. |
Delaware |
76.2 |
76.2 |
72.5 |
75.7 |
|
4. |
Wyoming |
74.1 |
72.5 |
73.7 |
73.9 |
|
5. |
Vermont |
74.9 |
73.1 |
75.1 |
73.8 |
|
6. |
Pennsylvania |
71.2 |
68.0 |
70.3 |
73.7 |
|
7. |
Iowa |
71.3 |
72.4 |
70.5 |
73.0 |
|
8. |
South Carolina |
70.7 |
69.7 |
72.5 |
72.7 |
|
9. |
Kentucky |
68.9 |
67.0 |
69.9 |
72.4 |
|
10. |
Montana |
72.1 |
71.3 |
71.8 |
72.3 |
|
11. |
Maine |
77.2 |
75.7 |
70.2 |
72.1 |
|
12. |
New Mexico |
70.0 |
71.2 |
69.1 |
71.9 |
|
13(=). |
Idaho |
70.4 |
72.1 |
72.2 |
71.6 |
|
13(=). |
Missouri |
69.9 |
69.9 |
70.5 |
71.6 |
|
14. |
Alabama |
73.9 |
74.7 |
70.7 |
71.2 |
|
15. |
Minnesota |
71.8 |
70.3 |
71.0 |
70.8 |
|
16(=). |
Indiana |
71.6 |
71.9 |
71.4 |
70.4 |
|
16(=). |
Kansas |
67.1 |
65.8 |
67.6 |
70.4 |
|
16(=). |
Tennessee |
70.9 |
69.3 |
67.7 |
70.4 |
|
17(=). |
Louisiana |
67.4 |
67.4 |
68.0 |
70.2 |
|
17(=). |
Ohio |
69.6 |
69.5 |
68.9 |
70.2 |
|
17(=). |
South Dakota |
68.1 |
69.0 |
70.0 |
70.2 |
|
18. |
New Hampshire |
73.4 |
73.6 |
75.3 |
69.4 |
|
19. |
Nebraska |
68.7 |
68.8 |
71.2 |
69.3 |
|
20. |
Illinois |
66.7 |
69.0 |
69.0 |
69.2 |
|
21. |
Wisconsin |
67.4 |
68.5 |
67.3 |
68.8 |
|
22. |
Alaska |
66.7 |
63.9 |
65.8 |
68.2 |
|
23. |
Maryland |
69.9 |
68.0 |
67.9 |
68.1 |
|
24. |
Connecticut |
70.1 |
70.5 |
66.6 |
68.0 |
|
25. |
Utah |
69.6 |
70.2 |
65.8 |
67.6 |
|
26. |
Oklahoma |
67.7 |
65.2 |
67.0 |
67.4 |
|
27. |
Florida |
69.7 |
69.1 |
67.7 |
67.3 |
|
28. |
Arizona |
70.1 |
69.2 |
70.0 |
67.2 |
|
29(=). |
North Dakota |
62.3 |
62.7 |
65.5 |
66.5 |
|
29(=). |
Virginia |
70.5 |
73.0 |
72.0 |
66.5 |
|
30. |
Oregon |
63.3 |
60.7 |
61.9 |
66.2 |
|
31. |
Arkansas |
66.5 |
67.0 |
67.1 |
65.9 |
|
32. |
North Carolina |
65.3 |
63.5 |
63.5 |
65.7 |
|
33(=). |
Rhode Island |
61.4 |
59.0 |
63.0 |
65.5 |
|
33(=). |
Washington |
63.8 |
65.3 |
64.7 |
65.5 |
|
34(=). |
Georgia |
63.3 |
67.1 |
64.6 |
63.2 |
|
34(=). |
Texas |
62.5 |
61.9 |
64.1 |
63.2 |
|
35. |
New Jersey |
59.9 |
66.0 |
63.6 |
62.3 |
|
36. |
Nevada |
62.9 |
61.6 |
59.6 |
61.7 |
|
37. |
Colorado |
66.6 |
67.3 |
67.8 |
61.3 |
|
38. |
Massachusetts |
62.7 |
65.4 |
62.3 |
61.2 |
|
39. |
Hawaii |
60.8 |
59.4 |
60.9 |
60.1 |
|
40. |
California |
55.5 |
55.3 |
55.0 |
55.5 |
|
41. |
New York |
54.3 |
52.4 |
52.9 |
51.3 |
Sources: U.S. Census Bureau
Methodology:
Data from the U.S. Census was used to rank the U.S. states by the percentage of the population that owned a home by the end of 2024.
The homeownership rates were compared per quarter to determine trends in ownership rates throughout the year.
The results of homeownership rates in Q4 were then ranked accordingly from highest to lowest percentage.