The percentage of Michigan households that own their own home dropped from 73.7% in 2000 to 72.1% in 2010.

As illustrated in Chart 1, home ownership dropped from 71.7% in 2000 to 69.2% in 2010 for householders under age 65. That is a decrease of 3.5 percent and it reflects difficulties purchasing or keeping a home under recent economic conditions.

In contrast, home ownership increased from 77.0% in 2000 to 78.4% in 2010 for householders age 75 and over. This increase of 1.8 percent largely reflects difficulties selling a home under recent economic conditions.

Home ownership dropped from 2000 to 2010 for householders under age 65 in all racial groups except Asians and Pacific Islanders. Decreases in home ownership were greatest for blacks. The home ownership rate for blacks under age 65 dropped from 46.8% in 2000 to 40.3% in 2010, which is a decrease of 13.9 percent.

Home ownership increased from 68.2% in 2000 to 73.2% in 2010 for Asian and Pacific Islander householders age 35 and over. This is an increase of 7.3 percent and it reflects a larger proportion of second-generation immigrants as well as a substantial number of first-generation immigrants with high levels of education.

The rate of home ownership generally peaked in Michigan from ages 55 to 74 in the 2000 Census. The peak occured toward the older end of that range for blacks and Hispanics but toward the younger end of that range for non-Hispanic whites, Native Americans, and Asians/Pacific Islanders. In 2010, however, homeownership rates peaked at age 65-74 for all groups except blacks and Hispanics. The peak occurred at age 75-84 for blacks and Hispanics.

Chart 2 shows that home ownership rates were highest for whites and lowest for blacks. Asians and Pacific Islanders had the second highest rate for ages 35 through 74.  The large percentage of Asians in college contributes to very low rates of home ownership below age 35. Many college students are temporary residents of the U.S. who are unlikely to own their own homes.

Hispanics had the next highest rate of home ownership for most age levels, followed closely by Native Americans, people reporting more than one race, and people reporting some other race.

Chart 3 shows that Michigan's rates of home ownership were higher than the corresponding national rates for most age groups in every racial category in 2000. The differences were largest for householders under age 65 and for Hispanics of all ages.  National data for 2010 should be released by the end of August.

CHARTS

Chart. 1: 2000 vs. 2010 for Michigan 
Chart 2: Race Comparisons: Michigan & the U.S. for 2000 & 2010 
Chart 3: Michigan vs. U.S. for 2000 
Chart 4: Michigan vs. U.S. for 2010 - Data scheduled for release by end of August  

ADDITIONAL DATA

Data for additional levels of geography in Michigan or other states can be obtained from Table H17 of Summary File 1 through:
    American FactFinder
or
    The Missouri State Data Center SF1 Extract Assistant