Source: U.S. Bureau of the Census
Release: Homeownership Rate
The homeownership rate is computed by dividing the number of households that are owners by the total number of occupied households.
A housing unit is classified as occupied if it is the current place of residence of the person or group of people living in it at the time of interview, or if the occupants are only temporarily absent from the residence for two months or less, that is, away on vacation or a business trip. If all the people staying in the unit at the time of the interview are staying there for two months or less, the unit is considered to be temporarily occupied and classified as “vacant.”
The date of the data is the end of the 5-year period. For example, a value dated 2015 actually represents data from 2010 to 2015.
U.S. Bureau of the Census, Homeownership Rate for Norfolk city, VA [HOWNRATEACS051710], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/HOWNRATEACS051710, February 16, 2019.