What does this measure?
The percentage of all occupied housing units that are owner-occupied (not rented).
Why is this important?
A home is often a family's greatest financial asset. Owning a home is a traditional part of the American dream and a typical entry point into the middle class. Homeownership is an important factor for neighborhood stability and civic participation.
How is our region performing?
Of occupied homes in the region, 68% were owner-occupied in 2010-14, above the 67% in the state and 64% in the nation. Union and Loudon had the highest homeownership rates (79% and 77%, respectively) of the regional counties, while Knox had the lowest (65%). Since 2000, the rate of homeownership declined by 3 percentage points in the region the state, while the national rate fell 2 points. The region's rate declined slightly 2000 to 2005-09 before falling by a further 2 points from 2005-09 to 2010-14; this contrasts with the trend in the state and the nation of a rate that rose or held steady from 2000 to 2005-09 before falling from 2005-09 to 2010-14. All counties experienced a decline of between 2 and 5 points from 2000 to 2010-14, except Sevier, which decreased by 7 points.
Notes about the data
Mutliyear figures are from the Census Bureau's American Community Survey. The bureau combined five years of responses to the survey to provide estimates for smaller geographic areas and increase the precision of its estimates. The survey provides data on characteristics of the population that used to be collected only during the decennial census.