The number of homeowner households in America fell 0.1% year over year to an estimated 86.2 million in Q2 2025, whilst the number of renter households rose 2.6% according to Redfin.

The fall in homeownership was the first since 2016, with the increase in the number of renter households the largest increases in recent years.

Chen Zhao, Redfin’s head of economics research, said: America’s homeowner population is no longer growing because rising home prices, high mortgage rates and economic uncertainty have made it increasingly difficult to own a home.”

While the number of homeowners in the U.S. housing market has fallen, the homeownership rate has remained relatively steady. It was 65% as of the second quarter, down slightly from 65.6% a year earlier. The rentership rate was 35%, up slightly from 34.4% a year earlier.

The median home sale price rose 1.4% year over year in July to $443,867—the highest July level on record.