"Owner households" refers to households where individuals or families own the place they live in, such as houses or apartments.
Full definition
Owner household formation is projected to increase 8.9 million between 2015 and 2025, according to the report, while renter household formation is projected to increase 4.7 million.
Their backgrounds are diverse, as well: 20 percent of renter households are foreign - born, and 47 percent are minorities — a distinction
from owner households, which are predominantly white.
Over the past decade, renter households have grown by 8 million, while
home owner households have fallen by 2 million.
Condo owners accounted for 31.0 per cent
of owner households in Vancouver in 2006, 23.8 per cent in Abbotsford, 21.2 per cent in Victoria and 21.1 per cent in Kelowna.
The U.S. added about 1.5 million
new owner households in 2017, while the number of renter households actually declined by 76,000 — a potentially worrying sign for landlords looking to fill large numbers of new apartments.»
Hispanics are an overriding force in homeownership, flouting national figures as they establish
owner households at a rising rate for the second straight year.
«The fact that we now have two consecutive quarters
where owner households outpaced renters is a strong sign this trend is reversing and that the homeownership rate bottomed out last year.»
Recently, there have been some encouraging signs that more new home buyers are entering the market, with new -
owner households outnumbering new - renter households and the share of first - time buyers slowly increasing.
The U.S. added 1.3 million
owner households over the last year and lost 286,000 renter households, the fourth consecutive quarter in which the number of renter households declined from the same quarter a year earlier.
Of the 1.22 million new households that were formed in the first quarter, 854,000 were new -
owner households making the jump straight to homeownership rather than renting first.
Also, more Americans are showing a preference for owning: The number of
owner households increased by 755,000 from a year ago, while the number of renter households fell 348,000, according to the Census Bureau report.
More households in America are headed by renters now than at any other time in the last 50 years,
with owner household formation toppled by renter household formation in the past 10, according to a recent analysis of Census Bureau data by the Pew Research Center.
Earlier this year, the rate at
which owner households were formed surpassed the rate at which renter households were formed, according to a Trulia report on Census data, pointing to the potential for a change of course.
Owner households dialed back from 76.1 million in 2006 to 75 million in 2016, while renter households expanded from 34.6 million to 43.3 million.
An analysis of the Census report by Trulia determined that
owner households formed at double the rate of renter households in the first quarter — a clue that points to the possibility of a kickstart this year.
Over the last five years, the share of cost -
burdened owner households has seen a sharper decline than the share of cost - burdened renter households: 6.5 percent versus 1.9 percent.
The homeownership rate crept up close to a full percentage point from one year ago to 63.7 percent in the second quarter, encouraged by
more owner household formation, according to the U.S. Census Bureau's recent Quarterly Housing Vacancies and Homeownership report.
The report cites recent Census data showing that although the homeownership rate is idling,
owner household formation is occurring faster than renter household formation.
are entering the market, with new -
owner households outnumbering new - renter households and the share of first - time buyers slowly increasing.
For owner households, spending on shelter increased by 21.6 per cent, almost twice the increase in consumer prices.
«On the optimist's side, household formation — whether it's from new renter or
new owner households — is good for both the housing market and the general economy, as some renters eventually become owners and new households drive demand for home - related goods and services.
Despite U.S. population growth of roughly 1 percent per year, the number
of owner households has held steady, in the range of 75 million since 2007, while the number of renter households has increased from 35 million in 2007 to nearly 40 million today.
New households are forming at the fastest pace in two years, and more of them are
owner households, a reversal from the recession when renter households outpaced owners by far.
Keep in mind that as
an owner your household will need to exercise patience and understanding during this period.
The «opportunity cost» of homeownership — the additional monthly amount that a tenant household can expect to pay to become
an owner household — also appears to have an influence on the homeownership rate, says the study.
Owner households, or homes owned by their residents, comprised 56.4 percent of all homes occupied in the fourth quarter of 2017, the report reveals — a boost from 55.7 percent in the third quarter.
The majority of renters are single, but there are now more renter households that contain families with children than there are
owner households that contain families with children (33 percent versus 30 percent).
The owner household formation rate overtook the renter household formation rate in the first quarter, and remained ahead in the second quarter — evidence that the shift toward owner - occupied is more than a one - off trend.
The gap between
the owner household formation rate and the renter household formation rate widened again.
With renter households growing at a faster rate than
owner households, landlords are at an advantage in the rental market.
Evaluate renter and
owner households and household income by age cohort and graduate degree population per market.
Hispanics have gone from almost 4 - and - a-half million
owner households in the year 2000 to more than 7 - million owner households last year.
In the first quarter of 2017, the number of new -
owner households was double the number of new - renter households.
About 854,000 new -
owner households were formed during the first three months of this year, more than double the 365,000 new - renter households in that period, according to U.S. Census Bureau data.
«This is because renter households are growing at a much faster rate than
owner households, reflecting growing confidence of those who were most likely impacted by the foreclosure crisis.»
Since the peak of the housing market in 2006, the number of renter households has grown — on average, by 692,000 a year — while the number of
owner households is shrinking — on average, by 201,000 a year, according to the Census data.