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10 Homeownership Facts for a Better Understanding of Real Estate Today

What’s the biggest financial transaction a person will make in their lifetime? For many, it’s buying a home. Homeownership is a significant milestone that can provide stability, promote financial wellbeing, and serve as a backdrop for life’s memories. During National Homeownership Month, learn 10 facts about homeownership in the U.S. today: 1. The current rate of homeownership is 65.1%In the first quarter of 2025, the U.S. census revealed the latest homeownership rate to be 65.1%, a stat that signifies the quantity of owner-occupied homes across the country. Just a few months prior, in Q4 2024, the rate was 65.7%. The national rate of homeownership hasn’t changed too much in recent years. In 2020, the national homeownership rate was 65.8%. 2. Interest rates on many mortgage loan products are hovering between 6% and 7%As June gets underway, mortgage interest rates continue to linger largely in the mid to high 6% range depending on the specific loan product, according to Bankrate. For example, the 30-year fixed-rate loan is hovering around 6.9%. Various loan options – from FHA to VA to ARM and more – will likely present fluctuating rates that also can depend on other qualifying factors of a homebuyer. 3. The Baby Boomer generation is currently the largest cohort of U.S. homebuyersPer the National Association of REALTORS® (NAR) 2025 Home Buyers and Sellers Generational Trends report, the Baby Boomer generation – comprising people between 60 and 78 years old – accounts for 42% of all homebuyers. This solidifies their standing as the largest share of homebuyers in today’s market, ahead of millennials (ages 26-44 years old) who account for 29% of all homebuyers – down 9% from one year ago. 4. 63% of the emerging generation of homebuyers (Gen Z and millennials) are ready to become homeownersThe majority of younger real estate consumers who don’t own a home yet are ready to do so, according to a survey from REMAX that analyzed the homeownership trends of people from Gen Z and millennial cohorts. REMAX data shows that 63% of prospective homebuyers surveyed indicated they are interested, eager and ready to become homeowners. 5. Affording upfront costs is the biggest hurdle faced by many of today’s younger homebuyersThe same REMAX survey found that certain financial considerations are holding some Gen Z and millennial prospective homebuyers back. The biggest obstacle these generations see standing between them and homeownership is the ability to afford upfront costs like a down payment. Monthly mortgage bills, property taxes and regular house upkeep were cited as additional obstacles these two generations are concerned about when pursuing homeownership. 6. 66% of Gen Z and millennial homeowners say owning a home makes their life less stressfulHomeownership often comes with physical, financial and emotional benefits. For the Gen Z and millennials who do own homes, two-thirds believe the stability that comes from ownership alleviates stress from their lives, according to the 2024 REMAX Future of Real Estate Report. The report notes that more buyers from these generations are pursing properties they can feel rooted in and grow with, seeing dwellings less as “starter homes” and more as longer-term security. 7. “Wellness real estate” is a growing phenomenonThe same REMAX report noted an ongoing uptick in the wellness real estate trend, focusing on how an increasing number of younger real estate consumers view a home as a place that provides comfort, joy and emotional fulfillment in a modernized and evolving way. Consequently, the Global Wellness Institute predicts that homes specifically designed to support holistic health is a space estimated to be valued at $887 billion dollars by 2027. 8. National and local

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