Household Income vs Homeownership Rate Analysis

This chart, from the 2023 ACS 1-Year Public Use Microdata Sample (PUMS) via CensusVision, maps over 10 million households across eight states, revealing income vs. ownership trends.

Decision makers in housing finance can leverage this insight to optimize strategies: In high-income, lower-ownership states like CO and NV, prioritize affordable housing initiatives, down payment assistance, or non-QM products to capture underserved buyers facing affordability hurdles, potentially increasing origination volumes and reducing default risks through better-aligned underwriting. In contrast, target higher-ownership, moderate-income areas like ID and NM with refinance or HELOC offerings to tap equity growth. In this way, you have the chance to enhance your retention and cross-sell while also mitigating concentration risks in volatile markets.

Knowledge of your markets is crucial in times like this to manage through low interest environment.