Homeownership rate in Central Maryland down slightly

February 26, 2013|By Steve Kilar | The Baltimore Sun

Central Maryland’s rate of homeownership, the proportion of households that are owner-occupied, was slightly lower in the fourth quarter of 2012 than during the same time a year earlier, according to data recently released by the U.S. Census Bureau.

Just over 65 percent of occupied homes in Baltimore and six surrounding counties — Anne Arundel, Baltimore, Carroll, Harford, Howard and Queen Anne’s — were owned by someone who lived there, the Census Bureau reported.

In the fourth quarter of 2011, the homeownership rate in the region was 67.5 percent.

In the last four months of 2005, in the midst of the housing boom, the homeownership rate in the Greater Baltimore area was 71.5 percent.

Maryland’s homeownership rate in the final months of 2012 was 68.7 percent. That was also down from the last quarter of 2011, when the rate was 70.4 percent. At the end of 2005, the state’s homeownership rate was 71.2 percent, according to the Census Bureau.

Nationally, too, the homeownership rate showed an annual decline in the fourth quarter. The rate was 65.4 percent at the end of last year, down slightly from 66 percent at the end of 2011.

The rental vacancy rate, which the Census Bureau defines as the “proportion of the rental inventory which is vacant for rent,” in Central Maryland was 7.5 percent in the last quarter of 2012 — down from 11.3 percent at the end of 2011.

Have a real estate news tip or experience to share? Email me at steve.kilar@baltsun.com.
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