Fewer Rhode Islanders own their own homes in the wake of the Great Recession.
Rhode Island’s homeownership rate has fallen from a record high of 64.9% in 2007 to 62.1% in 2012, according to the U.S. Census Bureau’s Housing Vacancies and Homeownership Survey. The trend mirrors a decline in homeownership nationally following the housing bust, as this chart shows:
The Census Bureau’s alternative American Community Survey puts Rhode Island’s homeownership rate even lower. It shows a decline from 63% in 2007-09 to 60% in 2010-12, the 5th-lowest among the states.