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 and Luzerne Counties homeownership held steady from recent prior years. Wayne County homeownership decreased slightly in 2024. Overall, the county has the largest share of homeowners within the study area. Wyoming County homeownership increased by 1.1 percent from 2023 to 2024.
The share of Pennsylvania homeowners grew marginally from 2022 to 2023 (0.1 percent) but remained steady at 69.3 percent in 2024. From 2010 to 2020, the Commonwealth experienced a 5.8 percent decline in homeownership.