What Percentage of Homes in the US are Owned Free and Clear: Mortgage Paid Off!

The number of homes that are owned free and clear in the US has skyrocketed in the last decade. Most of these owners have either purchased with cash or paid off their mortgage early. According to the US census, there are almost 40% of all houses that do not have any mortgage on them at all and are owned by the homeowner. This compares to only 30% in 2010 and 25% before the housing crash.

Considering that today 90% of all homeowners have more than 20% equity based on their initial loan, it is highly unlikely that there will be a housing crash or bubble similar to 2008. The housing market in the US is very strong with over 37% of people in the 2020 census owning their home free and clear without a mortgage payment because it is paid off.

The census did not specify the percentages of home owners living in the home vs rental properties.

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