The phrase "homeownership rate" refers to the percentage of people or households who own their own homes, as compared to those who rent. It is a measure used to understand the level of homeownership in a particular area or country. Full definition
The declining homeownership rate for these younger households certainly helped to boost multifamily production for the year. (eyeonhousing.org)
The average homeownership rate of persons holding a bachelor's degree was 15 percentage points higher than the rate of persons with a high school diploma. (realtormag.realtor.org)
There is also a noticeable decline in homeownership rates among millennials the past decade. (mnrealestatedaily.com)