OTHER

1. HOMEOWNERSHIP RATE

Definition: This indicator is a well-established index that is computed by dividing the number of owner-occupied housing units by the number of occupied housing units or households. A housing unit is “owner-occupied” if the owner or co-owner lives in the unit, even if it is mortgaged or not fully paid for.

Significance: In the main, experts state that a home represents an asset, stability, financial equity, and commitment. Therefore, it may be viewed as a proxy for measuring the wealth of a state. It also reflects the affordability of homes within a state.

HISTORICAL/TREND ANALYSIS, Homeownership Rate

Source:  United States Census Bureau

Selected State Rankings, 2007(“1” represents highest homeownership rate. States are ranked from highest to lowest using a standard competition ranking method that accounts for ties occurring when two or more states have the same homeownership rate.)

Source:  United States Census Bureau

Rev.: 05.05.08