Weekly Update of Renting and Owning in California

Homeownership rates declined across the state in 2011, according to the most recent U.S. Census data. Riverside had the highest rate of homeownership at 59%, despite its swift decline since the height of the boom. San Francisco County had the lowest homeownership rate, at 36%. Statewide, 55% of residents owned their home in 2011.

As more people continue to lose their homes, rental vacancy rates correspondingly declined in 2011. The highest rental vacancy rate was 10% in Riverside. The lowest was 6% in Los Angeles. Rental vacancies will continue to fall until homeownership rates stabilize, around 2016, and builders adjust.

Charts and more data at: http://firsttuesdayjournal.com/weeklycharts/WC_01-14-13.pdf

One thought on “Weekly Update of Renting and Owning in California”

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