Homeownership Rate for Utah
UTHOWN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
68.30
Year-over-Year Change
-3.94%
Date Range
1/1/1984 - 1/1/2024
Summary
The Homeownership Rate for Utah measures the percentage of Utah households that own their own homes. It is an important indicator of housing market conditions and the overall economic well-being of residents.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Homeownership Rate for Utah is a key metric used by economists, policymakers, and real estate analysts to gauge the strength of the state's housing market and gauge the financial security of its residents. It provides insight into home affordability, access to credit, and economic trends.
Methodology
The data is collected through the U.S. Census Bureau's Current Population Survey.
Historical Context
Tracking changes in Utah's homeownership rate can inform housing and economic policies at the state and local level.
Key Facts
- Utah has historically had one of the highest homeownership rates in the U.S.
- Homeownership peaked in Utah at 72.6% in 2006 before declining during the Great Recession.
- In 2022, Utah's homeownership rate stood at 70.4%.
FAQs
Q: What does the Homeownership Rate for Utah measure?
A: The Homeownership Rate for Utah measures the percentage of Utah households that own their own homes, as opposed to renting.
Q: Why is the Homeownership Rate for Utah relevant for users or analysts?
A: The homeownership rate is a key indicator of housing market conditions and the overall financial well-being of Utah residents. It provides insight into home affordability, access to credit, and broader economic trends in the state.
Q: How is the Homeownership Rate for Utah data collected or calculated?
A: The data is collected through the U.S. Census Bureau's Current Population Survey.
Q: How is the Homeownership Rate for Utah used in economic policy?
A: Tracking changes in Utah's homeownership rate can inform housing and economic policies at the state and local level, as it reflects the accessibility of home ownership and the financial security of residents.
Q: Are there any update delays or limitations with the Homeownership Rate for Utah data?
A: The Homeownership Rate for Utah is updated quarterly by the U.S. Census Bureau, with a typical 1-2 month delay in publication.
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Citation
U.S. Federal Reserve, Homeownership Rate for Utah (UTHOWN), retrieved from FRED.