Description of Indicator
This indicator compares the percentage of owners versus the percentage of renters for each county in the region and Pennsylvania.
Why is it Important?
This information enhances understanding of evolving housing preferences and potential affordability challenges. Homeownership is also a driver of economic mobility, so tenure may highlight vulnerability and the standard of living in a community.
How is the region performing?
Lackawanna County homeownership has held steady at 65.4 percent from 2022 to 2023, following a 6.8 percent decline from 2010 to 2020. The share of Luzerne County homeowners grew slightly from 2022 to 2023 (by 0.5 percent). The county’s share of homeowners declined 5.6 percent between 2010 and 2020. Wayne County homeownership has remained steady at 81.9 percent from 2022 to 2023, but overall, the county has the largest share of homeowners within the study area. From 2010 to 2020, Wayne County has seen the smallest decrease in homeownership (2.9 percent).
The share of Pennsylvania homeowners grew marginally from 2022 to 2023 (0.1 percent). From 2010 to 2020, the Commonwealth experienced a 5.8 percent decline in homeownership.