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The Real Deal Los Angeles

The LA/OC area has the lowest homeownership rate in the country: report

July 28, 2017 10:00AM

L.A. and O.C. homeownership rate has remained one of the lowest in the U.S. (credit: Getty Images)

You are not alone if you still rent in Los Angeles or Orange County.

Only 48.3 percent of the families in L.A. and the O.C. own a home, according to U.S. Census Bureau data released Thursday. The home ownership rate dropped two percent from last quarter, but is up 2 percent from a year ago.

Homeownership rates in other parts of Southern California, including Riverside, San Bernardino and San Diego have decreased as well, Pasadena Star-News reported.

Despite dropping rates in the Southland, homeownership has increased nationwide to 63.7 percent. [PSN] — Naiwen Tian