PropertyShark has reported an increase in Arizona’s homeownership rate by 0.3 percentage points, reaching 67.7%. This change was highlighted in their report titled “2024 Homeownership Rates in the U.S. by State and City.” The report indicates that while homeownership rates rose in four locations within the state, they declined in three.
According to PropertyShark, Chandler experienced a significant rise in homeownership, with an increase of 4.09 percentage points to 68.3%, marking it as the second-largest increase nationwide. Conversely, Gilbert saw a decline of 3.35 percentage points, bringing its rate down to 70.8%. Tucson recorded the lowest homeownership rate at 52.9%, whereas Gilbert had the highest within Arizona.
The report also notes that Arizona’s homeownership rate change is consistent with those observed in Illinois, Maine, and Nebraska, each showing a similar increase of 0.3 percentage points. On a national scale, the U.S. homeownership rate stands at 65.2%, which is a decrease from its peak of 69.2% in 2004.
The analysis utilized data from the U.S. Census Bureau’s American Community Survey 1-Year Estimates released in September 2024, covering aspects such as median home values and household income. Additional insights on owner-vacant housing were derived from the Census Bureau’s Housing Vacancies and Homeownership coverage.
Homeownership and rental occupancy percentages were calculated based on unit counts relative to total occupied housing units per state, according to PropertyShark.
PropertyShark is recognized as a real estate data provider offering comprehensive property information across major U.S. markets including New York City (NYC), Los Angeles (LA), and the Bay Area. With over two decades of experience, it serves approximately 20,000 clients ranging from real estate professionals to legal experts. The company provides property reports with ownership details, sales history, tax estimates, and zoning data, along with tools for lead generation, sales comparisons, and foreclosure tracking.
