Story perspectives
California Homeownership Hits Record Low Amid Rising Rentals
11/5/2025
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Story summary
- California's homeownership rate fell to 55.3% in 2025, signaling a shift since 2008.
- First-time buyers are deterred by high mortgage rates and scarce low-cost housing.
- Rental reliance rises in San Diego and Los Angeles as vacancies stay low.
- Riverside leads with over 65% homeownership, while Los Angeles County has 46.4%.
- Policy efforts to expand multi-family construction have not resolved the inventory crisis amid higher costs.
