June 28, 2022
Owners vs renters, the gap widens
SOUTHLAND – (INT) – The dream of homeownership is quickly fading and is most noticeable in agricultural and urban areas of California where home prices are rising the fastest.

The American Community Survey found that California had the second-lowest homeownership rate in the country at 56 percent. Only New York State had a lower rate.

In California, ownership rates ranged from 95 percent in Orange County’s Villa Park to just 38 percent in San Francisco County.

Homeownership rates in California are the second lowest in the country. But for those who can afford it, it is the leading source of wealth for most families, and over the long run provides families with more stable and lower housing costs compared to renting.
Story Date: June 26, 2022
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