National Homeownership Month
There’s a good reason to observe National Homeownership Month in June. The reason is that this month shines a light on the organizations that help people achieve their goal of homeownership. Although this month originally began as only a week-long celebration to get people into homes, it eventually expanded to occupy the entire month.
Now it’s a month not only to help pair people up with the resources they need to purchase a new home, but also to celebrate homeownership. This month has been celebrated for the last few decades, but it’s even more important than it has ever been. After all, with each passing year, it seems like it’s harder and harder for some Americans to live the American dream and buy a new home for their family.
The History of National Homeownership Month
This educational and celebratory month originally began as National Homeownership Week. This week was created by a proclamation from then-President Bill Clinton in 1995. He created the week as a way to increase homeownership across the United States.
This week would continue for the next seven years until it was expanded by President George W. Bush in 2002. It’s been celebrated ever since to help pair potential homeowners with the resources they may need.
Interesting Facts About Homeownership
We searched the Internet far and wide to come up with some solid statistics about homeownership in the United States. The following list is everything that we could come up with that we feel our readers might find interesting.
- The U.S. states with the highest homeownership rates are West Virginia, Maine, and Minnesota.
- The U.S. states with the lowest homeownership rates are New York, California, and Nevada.
- The typical first-time homebuyer in 2022 was 33 years old. The typical repeat homebuyer was 56 years old.
- Approximately 3% of recent homebuyers are active-duty service members.
- Approximately 14% of recent homebuyers are veterans.
- Approximately 36% of Gen Z and Millennials are living with friends or family members.
- The current homeownership rate for white Americans is 72%.
- The current homeownership rate for Black Americans is 43%.
- From 2020 to 2021, the national average for renting a two-bedroom apartment rose by almost 22%.
Observing National Homeownership Month
This is a month that can be celebrated by people looking to buy a new home. They can begin this observance by checking out some of the resources available to them. This includes checking out the website of the U.S. Department of Housing and Urban Development. People can also search for resources online. While observing this month, people can also use the hashtag #NationalHomeownershipMonth to spread the word about it.