Homeownership Rate for Connecticut
CTHOWN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
68.80
Year-over-Year Change
0.00%
Date Range
1/1/1984 - 1/1/2024
Summary
The Homeownership Rate for Connecticut measures the percentage of occupied housing units in the state that are owner-occupied. This key economic indicator provides insight into the state's housing market and broader economic conditions.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Homeownership Rate for Connecticut represents the proportion of occupied housing units in the state that are owned by their residents rather than rented. This statistic is widely used by economists and policymakers to analyze trends in housing affordability, household formation, and the overall health of the real estate market.
Methodology
The data is collected through the U.S. Census Bureau's American Community Survey.
Historical Context
Homeownership rates are closely watched by government agencies and private sector analysts to inform housing, tax, and economic development policies.
Key Facts
- Connecticut's homeownership rate was 66.5% in 2021.
- Homeownership rates in Connecticut are higher than the national average.
- Homeownership is a key indicator of household financial security and stability.
FAQs
Q: What does the Homeownership Rate for Connecticut measure?
A: The Homeownership Rate for Connecticut represents the percentage of occupied housing units in the state that are owner-occupied rather than rented.
Q: Why is the Connecticut Homeownership Rate relevant for users or analysts?
A: The homeownership rate is a critical indicator of housing affordability, household wealth, and the overall health of the real estate market in Connecticut. It informs housing, tax, and economic development policies.
Q: How is the Homeownership Rate for Connecticut data collected or calculated?
A: The data is collected through the U.S. Census Bureau's American Community Survey.
Q: How is the Connecticut Homeownership Rate used in economic policy?
A: Homeownership rates are closely monitored by government agencies and private sector analysts to inform housing, tax, and economic development policies.
Q: Are there any update delays or limitations with this data?
A: The Homeownership Rate for Connecticut is updated annually based on the American Community Survey, so there may be a 1-year delay in the most recent data.
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Citation
U.S. Federal Reserve, Homeownership Rate for Connecticut (CTHOWN), retrieved from FRED.