According to the Bureau’s Home Vacancies and Homeownership report, the Midwest region of the country has the highest homeownership rate at 70.3% in the first quarter of 2023 and the South followed with 67.3%. If you are in search of a home to rent, then your best bet is to look in the South or Midwest regions of the US if you need to rent something in a hurry.

The U.S. Census Bureau agreed, reporting these two regions have the highest homeownership rates. The remaining regions reported were the Northeast with 62.7%, and the West with 61.9% which was up 1.7% from the same time last year. In fact, the rental vacancy rates were higher in the South at 8.3% and Midwest at 7.5% than the West at 4.3% and Northeast at 4.1%.

If you are looking to rent or purchase a home, contacting a local Realtor is the best way to go. A Realtor will be able to help you with what the best way to go for you might be. They also are familiar with the housing market and the Bureau’s report Owning or Renting the American Dream.

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