Non-owners’ information was also reported in the 2019 Profile of Buyers and Sellers to understand aspiring buyers. 74% of those surveyed are currently renters and 26% currently live with someone else without paying housing costs.
Millennials are the largest share of non-owners with GenXers comprising 26% and Younger Boomers at 12%. Six out of ten non-owners are single and have never married compared to ¼ being married currently.
Over half of current non-owners believe that it would be difficult for them to become homeowners based on their current financial conditions while approximately one-fourth believe that it is something within their reach.
The study concluded that 75% of non-owners believe home ownership is part of their American Dream. Eight out of ten want to own a home in the future even though they felt like they couldn’t afford owning a home now or needed the flexibility of renting.
Non-owners suggested that if things changed that they would feel differently, Life changing events such as marriage, starting a family, retiring or improvement in their financial condition, top the list of home ownership changes.