What’s measured This section looks at owner-occupied and renter-occupied housing as a percentage of occupied housing units in the Charlotte region in 1990 and 2000, using data from the U.S. Census Bureau. This indicator uses data from the decennial census, which means that it cannot be updated until 2010 figures are released. Why it’s measured The amount of home ownership (compared to renting) in the region provides information about the affordability of housing and the ties of residents to the community. Moreover, for most homeowners, their home is their most important investment. Indicator results In 2000, 69.99 percent of homes in the region were owner-occupied and 30.01 percent of homes were renter-occupied. Home ownership was up slightly from 1990, when 69.0 percent of homes in the region were owner-occupied and 31.0 percent were renter-occupied. Regional home-ownership rates were similar to state levels. In North Carolina, 69.4 percent of homes were owner-occupied in 2000; while in South Carolina 72.2 percent were owner-occupied. Among counties in the region, Union had the highest percentage of owner-occupied housing at 80.5. Mecklenburg had the lowest percentage of owner-occupied housing, at 62.3. From 1990 to 2000, Union had the biggest increase in home ownership. For the same period, Catawba, Gaston, Lincoln, Rowan and Stanly counties experienced a decrease in home ownership. Evaluation Levels of home ownership in the region remained fairly constant from 1990 to 2000. Similarly, home-ownership rates for the region appear to be fairly consistent with state levels. Nevertheless, there are interesting differences across the counties comprising the region. All else being equal, higher levels of home ownership suggest higher income levels. But in areas experiencing rapid population growth, low home-ownership rates (or, conversely, high percentages of renters) may be explained by the presence of newcomers who have not yet decided on a permanent place to live. Connections Home-ownership and renting data provide important information about the region’s economy. Higher levels of home ownership suggest that a greater number of individuals and families enjoy sufficient wealth or income to purchase a home. There is also a contrast between urban and rural areas. Urban areas attract younger people more likely to rent as well as newcomers also more likely to rent before they buy, both of which may reflect a vibrant economy. Also, lower levels of home ownership may suggest that the region’s wealth is more concentrated in the hands of a few. Home ownership also has important sociological implications, as home owners typically are more invested in their communities, working to make them safe, clean and liveable.
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