DEC. 12, 2024 – The number of owner-occupied housing units increased by 8.4%, from 76.4 million in 2014-2018 to 82.9 million in 2019-2023, according to newly released U.S. Census Bureau data.

The 2019-2023 American Community Survey (ACS) 5-year estimates show that more people owned homes than rented in 3,070 of the nation’s 3,144 counties and county equivalents between 2019 and 2023.

Additionally, home values increased 21.7% between the 2014-2018 ACS 5-year estimates and the 2019-2023 ACS 5-year estimates, going from a median of $249,400 to $303,400 (estimates from 2014-2018 are adjusted for inflation). The counties with some of the largest dollar amount increases were Pitkin County, Colorado ($758,800 to $1,131,200); Teton County, Wyoming ($1,007,200 to $1,371,900); Dukes County, Massachusetts ($812,400 to $1,104,100); San Mateo ($1,210,100 to $1,494,500) and Santa Clara ($1,111,400 to $1,382,800) counties in California; and Summit County, Utah ($729,000 to $1,000,400).

The rise in both homeownership and home values also came with an increase in the number of owner-occupied households without a mortgage, increasing between the two 5-year periods by 3.9 million units, from 36.9% of owned homes in the 2014-2018 ACS estimates to 38.8% in the 2019-2023 ACS estimates.

"The increase in the number of owned homes without a mortgage could partially explain why the median amount of income homeowners spent toward housing costs decreased from 18.3% to 17.5%," said Caroline Short, a survey statistician in the Census Bureau's Housing Statistics Branch. "Housing data also showed that 61.2% of owned homes had a mortgage. Moreover, the median ratio of income to housing costs for mortgaged homes decreased slightly from 21.6% to 20.9%. But the actual median dollar amount of monthly housing cost rose slightly from $1,897 to $1,902."

The amount of income that goes toward housing costs has differed between renters and owners, with renters traditionally paying more of their income toward housing.

Other 2019-2023 ACS 5-year estimates housing highlights related to rented units include:

• There were no counties where the median homeowner costs, as a percentage of income, was greater than 30%, whereas in over 200 counties, the median gross rent as a percentage of income was greater than 30%. These households who spent more than 30% of their income toward housing costs are considered “cost burdened” by the Department of Housing and Urban Development (HUD).
• There were 20.0 million rented units paying more than 30% of their monthly income toward housing costs in the 2019-2023 5-year ACS, as opposed to 17.3 million owned units.
• While the overall share of households that rented decreased, the number of rented units did increase by over a million units (43.3 million to 44.6 million). There were 42.4 million renter-occupied homes that paid cash rent according to the 2019-2023 ACS 5-year estimates, which was an increase of about 1.4 million units from the 2014-2018 ACS 5-year estimates. Much of this increase was driven by a small number of counties. Some of the counties that added the largest number of units paying cash rent were: Harris, Travis and Bexar counties in Texas; Kings County, New York; and Miami-Dade County, Florida.
• Median gross rent (rent plus utilities) increased nationally by about $100, from $1,246 to $1,348 per month. Many of the counties with the highest median gross rents were either in California (such as San Mateo, Santa Clara, Marin and San Francisco counties), Virginia (such as Arlington, Loudon and Fairfax counties), or New York (such as Nassau, Suffolk and New York counties).

ACS 5-year estimates are available for all states, the District of Columbia, Puerto Rico, congressional and state legislative districts, metropolitan and micropolitan statistical areas, counties, places, and other geographies down to census tracts and block groups.

Additional highlights include:

• The U.S. median household income for the 2019-2023 ACS 5-year period was $78,538. Median household income in the United States, adjusted for inflation to 2023 dollars, increased 7% between the 2014-2018 and 2019-2023 periods.
• Between 2014-2018 and 2019-2023, about one-third of all counties (1,019) experienced an increase and 102 had a decrease in median household income. Nearly two-thirds of all U.S. counties (2,010) did not have a statistically significant change in median household income.
• Most counties had a median household income lower than the national median (74.1%), while 13.2% had a median household income higher than the U.S. median.

• The overall U.S. poverty rate for the 2019-2023 period was 12.4%, down from 14.1% in 2014-2018. Poverty rates decreased in 45 states, the District of Columbia and Puerto Rico compared to 2014-2018.
• Poverty rates decreased in 858 counties and increased in 130 counties in 2019-2023 compared to rates in the 2014-2018 period.
• In 2019-2023, child poverty rates decreased in 47 states, the District of Columbia and Puerto Rico compared to 2014-2018. For those age 65 and older, poverty rates increased in 42 states and decreased in one state (Idaho) compared to 2014-2018.
• In 2019-2023, child poverty rates decreased in 873 counties (more than 27% of all counties) and increased in 110 counties compared to 2014-2018.
• In 2019-2023, poverty rates for those age 65 and older decreased in 110 counties and increased in 632 counties (more than 20% of all counties) compared to 2014-2018.

• During the 2019-2023 ACS period, the rate of women age 15 to 50 with a birth in the past 12 months was 51.6 per 1,000 women. The rate of women who had a birth in the past 12 months among this demographic decreased in 12 states and Puerto Rico compared to the rate among this population in 2014-2018.
• In just three states – Mississippi, New Jersey and New York – the rate of women age 15 to 50 with a birth in the past 12 months increased in 2019-2023 compared to their rates in 2014-2018. 

The Census Bureau is set to release ACS 5-year Public Use Microdata Sample (PUMS) files and Variance Replicate Estimates on January 23, 2025.

To view the complete release schedule, visit the 2023 ACS data release schedule. For more information on ACS topics, visit Subjects Included in the Survey. To access the full set of statistics released today, visit data.census.gov.

Statistics from sample surveys are subject to sampling and nonsampling error. All comparisons in the highlights have been tested and found to be statistically significant at the 90% confidence level, unless otherwise noted. Consult the tables on data.census.gov for specific margins of error. For more information on using margins of error, visit the Code Lists, Definitions, and Accuracy page.

Year-to-year changes in survey design can affect results. For more information on changes affecting the 2023 statistics, refer to our user notes.

These statistics would not be possible without the participation of the survey respondents throughout the country and Puerto Rico.

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