Homeownership Rate for Pennsylvania
PAHOWN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
70.80
Year-over-Year Change
-0.28%
Date Range
1/1/1984 - 1/1/2024
Summary
The Homeownership Rate for Pennsylvania measures the percentage of Pennsylvania households that own their homes. This key housing market indicator provides insights into economic trends and consumer sentiment.
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 Pennsylvania tracks the share of Pennsylvania households that occupy their own homes rather than renting. This metric is widely used by economists, policymakers, and real estate analysts to understand broader housing market conditions and consumer confidence.
Methodology
The data is collected through the U.S. Census Bureau's Current Population Survey.
Historical Context
Homeownership rates are closely monitored for their relationship to mortgage lending, construction activity, and consumer spending.
Key Facts
- Pennsylvania's homeownership rate was 67.6% as of the latest data.
- Homeownership in Pennsylvania has declined from a peak of 71.1% in 2005.
- The U.S. national homeownership rate is currently 65.5%.
FAQs
Q: What does the Homeownership Rate for Pennsylvania measure?
A: The Homeownership Rate for Pennsylvania tracks the percentage of Pennsylvania households that own their homes rather than renting.
Q: Why is the Pennsylvania homeownership rate relevant?
A: The homeownership rate is a key indicator of housing market conditions, consumer confidence, and broader economic trends within the state.
Q: How is the Homeownership Rate for Pennsylvania data collected?
A: The data is gathered through the U.S. Census Bureau's Current Population Survey.
Q: How is the Pennsylvania homeownership rate used in economic policy?
A: Homeownership rates are monitored by policymakers, lenders, and real estate analysts to assess the health of the housing market and consumer spending patterns.
Q: Are there any limitations or delays in the Homeownership Rate data?
A: The Homeownership Rate for Pennsylvania data is reported quarterly with a short delay, so it provides a timely but not real-time view of housing market trends.
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Citation
U.S. Federal Reserve, Homeownership Rate for Pennsylvania (PAHOWN), retrieved from FRED.