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y the end of 2024, New York State ranked last nationwide in home‑ownership, with only 51.3 % of residents owning a house. A study by Stage Properties Brokers LLC, based on the latest Census data, tracked quarterly ownership across all 50 states and found New York’s trend flat to declining, reflecting the state’s long‑standing renter‑heavy market driven by steep prices, scarce inventory and dense urban housing, especially in New York City. CEO Ghassan Saliba explained that property costs far outpace local income growth, intense competition, and a severe housing shortage keep many residents in rentals not by choice but because buying is financially out of reach.

    The Northeast mirrors this struggle: Massachusetts, New Jersey and Rhode Island also rank among the ten lowest states. Massachusetts experienced a sharp drop during the year, while New Jersey’s rates fluctuated, peaking mid‑year before falling again. These patterns point to regional challenges—high land costs, strict zoning and investor competition—that suppress ownership rates.

    North Carolina, a popular COVID‑era destination, recorded the next lowest rate at 65.7 %. In contrast, West Virginia topped the nation with 80.5 % ownership, followed by several Midwestern and Southern states—Michigan, Mississippi and others—each exceeding 75 %. Lower housing costs, less population pressure and more single‑family homes in these markets sustain higher ownership even amid rising mortgage rates.

    The data underscore a stark national divide: while many regions maintain stable, attainable home‑ownership, New York—largely due to New York City’s rental‑heavy stock—remains the hardest place in the country to own a home.