CFED Scorecard

CFED Assets & Opportunity Scorecard

Homeownership by Income Reports & Graphics

Homeownership is the primary means of building wealth for most Americans, and studies have noted the particular importance of home equity as source of wealth accumulation for low-income households. This measure describes the disparity in homeownership rates between rich and poor households, and in every state, low-income families have significantly lower rates of homeownership. For example, the homeownership rate for households in the top income quintile in Rhode Island is 3.2 times higher than for households in the bottom income quintile.

Homeownership by Income, 2012

StateHomeownership Rate,
Top Quintile (%)
Homeownership Rate,
Bottom Quintile (%)
RatioRank
United States  86.3%  38.4%  2.25   
Alabama  90.8%  44.3%  2.05  12 
Alaska  86.7%  43.3%  2.00 
Arizona  83.7%  40.3%  2.08  15 
Arkansas  88.1%  40.5%  2.18  24 
California  80.0%  29.8%  2.68  46 
Colorado  88.6%  37.0%  2.40  40 
Connecticut  91.3%  33.3%  2.75  47 
Delaware  91.6%  50.2%  1.82 
District of Columbia  73.2%  15.7%  4.66  51 
Florida  85.6%  46.5%  1.84 
Georgia  88.8%  38.0%  2.34  35 
Hawaii  79.7%  36.4%  2.19  25 
Idaho  90.3%  41.7%  2.16  22 
Illinois  89.8%  37.6%  2.39  39 
Indiana  91.6%  39.3%  2.33  34 
Iowa  91.9%  44.1%  2.09  16 
Kansas  91.1%  39.2%  2.32  33 
Kentucky  89.6%  40.7%  2.20  26 
Louisiana  88.1%  40.9%  2.15  21 
Maine  93.2%  43.6%  2.14  19 
Maryland  91.0%  41.3%  2.20  27 
Massachusetts  88.2%  29.3%  3.01  48 
Michigan  91.7%  42.7%  2.15  20 
Minnesota  91.5%  40.8%  2.24  30 
Mississippi  88.5%  45.2%  1.96 
Missouri  90.3%  39.9%  2.26  32 
Montana  89.1%  43.9%  2.03  10 
Nebraska  92.5%  38.9%  2.38  38 
Nevada  79.1%  32.3%  2.45  41 
New Hampshire  91.7%  44.5%  2.06  14 
New Jersey  89.7%  35.7%  2.51  43 
New Mexico  89.6%  47.1%  1.90 
New York  77.3%  25.6%  3.01  49 
North Carolina  88.5%  40.9%  2.17  23 
North Dakota  85.4%  36.5%  2.34  36 
Ohio  92.0%  35.5%  2.59  45 
Oklahoma  89.1%  43.4%  2.05  13 
Oregon  85.8%  33.5%  2.56  44 
Pennsylvania  91.4%  41.2%  2.22  28 
Rhode Island  89.3%  27.6%  3.24  50 
South Carolina  88.0%  44.9%  1.96 
South Dakota  88.0%  41.3%  2.13  18 
Tennessee  89.5%  42.5%  2.11  17 
Texas  87.0%  39.1%  2.22  29 
Utah  91.5%  40.6%  2.25  31 
Vermont  90.7%  48.4%  1.87 
Virginia  87.5%  43.1%  2.03  11 
Washington  87.0%  36.8%  2.36  37 
West Virginia  90.5%  45.2%  2.00 
Wisconsin  92.1%  37.0%  2.49  42 
Wyoming  91.4%  46.5%  1.97 

Definition

Ratio of the homeownership rate of households in the top income quintile to households in the bottom income quintile, 2012.

 Calculated by dividing the higher value by the lower value, i.e., the homeownership rate of top income quintile households divided by bottom income quintile households. Income quintiles are calculated at the state level, and the income thresholds used to define quintiles can be found here.

 A ratio of 1 indicates perfect equality; the higher the ratio, the greater the inequality. 

Source

2012 American Community Survey. Washington, DC: U.S. Department of Commerce, Census Bureau, 2013. Data calculated by CFED using Public Use Microdata Sample files.

 

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