Non-owners’ information was also reported in the 2019 Profile of Buyers and Sellers in an effort to understand aspiring buyers. 74% of those surveyed are currently renters and 26% currently live with someone else without having to pay 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 non-owners describe that it would be difficult for them to become homeowners based on their current financial condition while approximately one-fourth believe that it would not be difficult.
The study concluded that 75% of non-owners believe homeownership is part of their American Dream and 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 such as marriage, starting a family, retiring or improvement in their financial condition, they would become an owner in the future.