PropertyShark recently analyzed homeownership rates by state and city, which covers the 100 largest cities in U.S. by population, and found that Chandler homeownership saw the second-largest jump in homeownership rates nationwide in 2024.

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In Arizona, the homeownership rate was nearly flat inching up only +0.3 percentage points from 67.4% in the previous year to 67.7%. In Arizona’s 7 largest cities, homeownership rose in 4 locations, while in 3, rates trended down. 

Here are the key points: 

  • Chandler homeownership saw the 2nd largest jump in homeownership rates nationwide at +4.09 percentage points, rising to 68.3% from 64.2% in the previous year.
  • Gilbert had one of the sharpest declines in homeownership rates among the 100 most populated cities in the country at -3.35 percentage points, dropping from the previous year’s 74.1% to 70.8%.  
  • At 52.9%, Tucson featured the lowest homeownership rate among Arizona’s largest cities, while Gilbert had the highest. 
  • Other states with homeownership rate changes similar to Arizona were Illinois, Maine and Nebraska, all inching up only +0.3 percentage points. 
  • The U.S. currently has a homeownership rate of 65.2%, down from its 69.2% peak in 2004. 
  • Baby Boomers remain the generation with the highest homeownership rate at over 75%, while homeownership rates for older Millennials reached 62% and 39% for younger Millennials and Gen Z.

The United States homeownership rate represents the percentage of occupied housing units where the resident is also the owner. A constantly evolving figure, the United States homeownership rate currently rests at 65.2%, while renter-occupied housing units make up 34.8% of the national stock.

Economic factors, wage evolution, increasing home prices, lifestyle choices and generational preferences are all significant contributors to the changing landscape of housing.  

Considering the abundance of factors that impact the U.S. rate of homeownership, it has dipped and grown throughout the years: 

For the full list of U.S. homeownership rates by state and city, as well as Y-o-Y changes, including in Washington D.C. and Puerto Rico, check out our report: https://www.propertyshark.com/info/us-homeownership-rates-by-state-and-city/.