The homeownership rate in America has steadily gone up since 1940, eventually reaching a peak of near 70 percent at the height of the housing boom. But according to data from the Census Bureau, the homeownership rate fell to 65.1 percent last year, down 1.1 percent from ten years earlier when it was 66.2 percent. Despite the drop, homeownership is at its second highest decennial level and, though down from its mid-decade high, the rate is now more aligned with historical norms. Among regions, the Midwest had the highest rate of homeownership at 69.2 percent, the South was second with 66.7 percent. Young adults are the least likely to own a home. More here and here.