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Homeownership rate is very locally variable, so national averages miss a lot of nuance in the housing discussion. For example over the last 10 years its decreased in the Bay Area, and in S.F. county its only about 38%.

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SF is a venture capital subsidy into real estate. It's not representative of the broader US.

I will give you data for other in demand housing markets then to demonstrate how variable this stat is. In LA county, the homeownership rate is 46%. The homeownership rate in Queens is 45%, the homeownership rate in Brooklyn is 30%, in Manhattan its 24%, and in the Bronx its 20%. In Boston its 34%. In Miami its about 31%.

Really, homeownership is quite low in most in demand markets, especially ones that have been in demand for some time now.

Thank you for adding this information. It shows how important it is to get granular with data otherwise so much nuance gets lost in the interpretation.

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