Homeownership rate

The homeownership rate is the percentage of households or individuals who own their homes out of the total number of households in a specific area or country. It reflects how common it is for people to own their homes versus renting. A higher rate indicates more ownership, suggesting stability and investment, while a lower rate may point to more renting or housing affordability issues. This metric helps economists and policymakers understand housing market trends, economic stability, and the overall well-being of residents related to property ownership.