After decades of a downward trend, the number of young-adult homeowners is reaching a record high in King County.
The previous peak was in 1990, when the number of homeowners between the ages of 25 and 40 reached ~119,000. Fast forward to 2015, that number dipped below 100,000 for the first time since the 1970s.
According to our most recent census report (2022), that number of young homeowners not only increased again, but surpassed the previous 1990 peak. Now, ~126,000 young adults own their homes.
Approximately 92,000 of these young homeowners own a single-family home, with the rest living in townhomes, row houses, or multi-unit buildings.
While the raw number of homeowners is setting a record in the area, the home ownership rates are still historically low. The 1980 census was the last report showing a majority of the age group as homeowners at 57%. Today, we are looking at 38% — with the majority share leaning towards renting.
