DALLAS (KDAF) — A new study has revealed that Texas ranks near the bottom in homeownership compared to other states, tying with Georgia for the eighth-lowest rate in the country. According to the analysis by Stage Properties Brokers LLC, Texas closed out 2024 with a homeownership rate of 63.2%, well below the national average and far behind the top-ranking state, West Virginia, at 80.5%.
The study, based on U.S. Census data, examined homeownership trends across all 50 states during 2024. While West Virginia boasts that more than four in five residents own their homes, Texas saw a decline from mid-year highs, signaling challenges for many Texans looking to buy. Fluctuations were especially notable in Georgia, but Texas also experienced dips that highlight affordability pressures and market volatility.
For perspective, New York recorded the lowest homeownership rate at 51.3%, meaning just over half of its residents own homes. In contrast, Texas—often associated with wide-open spaces and booming growth—finds itself in the lower tier nationally, underscoring the impact of rising housing costs and population surges in major metros like Dallas, Houston, and Austin…