Mortgage distress and insurance bills are reshaping how many Americans experience homeownership, even as housing demand stays active. About 4 million existing homes sell each month at the current annualized pace, yet 2.0% of owner occupied homes were in foreclosure status in 2023 and homeowners paid $1,931 on average in insurance premiums in 2023. From energy savings to home improvement delays and utilities costs, these stats reveal what households actually face once the keys are in hand.
Key Takeaways
- 66.9 million occupied households owned their home in 2023, representing 65.3% of all occupied households in the United States
- Homeowners with a mortgage accounted for 28.6% of households in 2023 (Federal Reserve/Survey estimates)
- 31.0% of U.S. households were cost-burdened in 2022 (spending 30% or more of income on housing), including both owners and renters
- 23.7% of homeowners with a mortgage were “seriously delinquent” or “in foreclosure” in 2023 according to Federal Reserve Bank of Philadelphia estimates of mortgage distress (mortgage delinquency measures vary by definition)
- In 2023, the average annual premium for homeowners insurance was $1,931 in the United States
- In 2024 (through the latest reported month at the time of publication), the annualized pace of existing home sales was about 4 million units per month
- In 2023, the U.S. home improvement retail market was valued at $557 billion
- The U.S. roofing industry revenue was $17.3 billion in 2024
- The share of loans for purchase was 70.4% of total mortgage applications in the week ending March 15, 2024
- The median monthly household expenditure on utilities was $162 in 2022 (includes electricity, natural gas, water, and other utilities)
- In 2022, homeowners spent $1,800 or more annually on home improvements or repairs (share of respondents varies by survey question wording)
- Homeowners were more likely than renters to participate in home improvement projects, with 48% of homeowners reporting a home improvement project in 2023
- 58% of homeowners said energy-efficient upgrades would reduce utility costs “a lot” or “some” in a 2023 survey
- 27% of U.S. homeowners reported that they have installed a smart thermostat as of 2024
- The average retail price of rooftop solar PV in the U.S. in Q4 2023 was about $3.00 per watt
Most U.S. homeowners own their homes, but rising costs and mortgage distress make affordability and repairs critical.
Related reading
Homeownership Rates
166.9 million occupied households owned their home in 2023, representing 65.3% of all occupied households in the United States[1]
Verified
2Homeowners with a mortgage accounted for 28.6% of households in 2023 (Federal Reserve/Survey estimates)[2]
Verified
Homeownership Rates Interpretation
In the Homeownership Rates category, 65.3% of US occupied households owned their homes in 2023, and notably 28.6% still had a mortgage, showing homeownership is widespread but a significant share of homeowners are actively paying one.
Affordability & Costs
131.0% of U.S. households were cost-burdened in 2022 (spending 30% or more of income on housing), including both owners and renters[3]
Verified
223.7% of homeowners with a mortgage were “seriously delinquent” or “in foreclosure” in 2023 according to Federal Reserve Bank of Philadelphia estimates of mortgage distress (mortgage delinquency measures vary by definition)[4]
Verified
3In 2023, the average annual premium for homeowners insurance was $1,931 in the United States[5]
Verified
4In 2023, homeowners paid an average of $405 per year for home insurance deductibles (survey-based mean)[6]
Verified
5The average effective property tax rate in the U.S. was about 0.98% of home value in 2023 (Tax Foundation compilation)[7]
Verified
6In 2023, the average cost of a photovoltaic system for a U.S. homeowner was about $29,000 before incentives (LBNL cost benchmark)[8]
Verified
Affordability & Costs Interpretation
In the Affordability & Costs category, housing remains a financial squeeze because 31.0% of U.S. households were cost-burdened in 2022 while homeowners with a mortgage also faced significant ongoing costs such as a $1,931 average annual insurance premium in 2023 and a 0.98% average effective property tax rate.
More related reading
Market Size & Pricing
1In 2024 (through the latest reported month at the time of publication), the annualized pace of existing home sales was about 4 million units per month[9]
Verified
2In 2023, the U.S. home improvement retail market was valued at $557 billion[10]
Single source
3The U.S. roofing industry revenue was $17.3 billion in 2024[11]
Directional
4In 2023, the U.S. painting and wallcovering contractors industry generated $22.6 billion in revenue[12]
Directional
5In 2023, the U.S. HVAC service and repair market was $49.7 billion[13]
Directional
6In 2023, 8.9 million housing starts were authorized in the United States (seasonally adjusted annual rate)[14]
Verified
7In 2023, the U.S. completed 7.9 million housing starts (completions) as reported by HUD[15]
Verified
8The FHFA House Price Index for the U.S. increased by about 1.2% in Q1 2024 (quarter-over-quarter)[16]
Directional
Market Size & Pricing Interpretation
In the Market Size and Pricing category, home-related demand appears to be holding steady and inflation pressures persist, with U.S. existing home sales running at about a 4 million unit annualized pace in 2024 and the FHFA House Price Index up about 1.2% in Q1 2024, while major improvement and services markets remain large at $557 billion for home improvements, $17.3 billion for roofing, and $49.7 billion for HVAC repair in 2023 and 2024.
Financing & Rates
1The share of loans for purchase was 70.4% of total mortgage applications in the week ending March 15, 2024[17]
Verified
Financing & Rates Interpretation
In the Financing and Rates category, loans for purchase made up 70.4% of total mortgage applications in the week ending March 15, 2024, signaling that most homeowners seeking financing were actively aiming to buy rather than refinance.
Household Spend & Behavior
1The median monthly household expenditure on utilities was $162 in 2022 (includes electricity, natural gas, water, and other utilities)[18]
Verified
2In 2022, homeowners spent $1,800 or more annually on home improvements or repairs (share of respondents varies by survey question wording)[19]
Verified
3Homeowners were more likely than renters to participate in home improvement projects, with 48% of homeowners reporting a home improvement project in 2023[20]
Verified
4In 2023, 41% of homeowners reported that they planned to spend money on home improvement within the next 12 months[21]
Single source
5U.S. homeowners spent $183.1 billion on property taxes in 2023 (BEA personal consumption expenditures for property taxes)[22]
Verified
6U.S. homeowners spent $1.1 trillion on utilities in 2023 (BEA consumer spending for utilities)[23]
Single source
Household Spend & Behavior Interpretation
For the Household Spend & Behavior angle, homeowners are clearly budgeting and acting, with utilities at a $162 monthly median in 2022 and spending rising to $183.1 billion on property taxes and $1.1 trillion on utilities in 2023, while 48% report doing a home improvement project in 2023 and 41% plan one within the next 12 months.
More related reading
Industry Trends
158% of homeowners said energy-efficient upgrades would reduce utility costs “a lot” or “some” in a 2023 survey[24]
Single source
227% of U.S. homeowners reported that they have installed a smart thermostat as of 2024[25]
Verified
3The average retail price of rooftop solar PV in the U.S. in Q4 2023 was about $3.00 per watt[26]
Verified
4The average annual energy savings from insulation and air-sealing upgrades can range from 10% to 20% for U.S. homes (U.S. DOE analysis for typical projects)[27]
Verified
5Heat pump water heaters can reduce energy use for water heating by about 50% relative to conventional electric resistance in many cases (U.S. DOE)[28]
Single source
Industry Trends Interpretation
Industry Trends in U.S. home upgrades point to strong interest and measurable payoff, with 58% of homeowners expecting energy-efficient improvements to cut utility costs and 10% to 20% typical annual savings from insulation and air-sealing, while adoption momentum is visible in 27% already having smart thermostats.
User Adoption
1Residential solar accounted for about 46% of all U.S. newly installed solar capacity in 2023 (SEIA)[29]
Verified
2In 2023, 28% of U.S. homeowners used a home security system (including professional monitoring) according to ADT consumer survey data[30]
Verified
3As of 2023, 40% of homeowners that completed weatherization measures reported improved comfort (survey in DOE-supported studies)[31]
Verified
4In 2023, 63% of U.S. homeowners reported having a home inventory (e.g., list/photos) for insurance purposes (industry survey)[32]
Verified
User Adoption Interpretation
User adoption is clearly gaining momentum as 46% of new U.S. solar installations went to residential homes in 2023 and homeowners increasingly take practical steps like home security adoption at 28%, weatherization comfort improvements for 40%, and maintaining a home inventory for insurance at 63%.
Performance Metrics
1In 2023, 74% of homeowners were satisfied with the quality of work from contractors (survey result)[33]
Verified
2In 2022, 43% of homeowners reported experiencing a delayed home improvement project (survey measure)[34]
Verified
3In 2023, 12.4% of U.S. owner-occupied housing units were considered overcrowded (American Housing Survey definitions)[35]
Verified
4The average homeowners’ insurance loss ratio for the industry was 56.2% in 2023 (NAIC aggregated line results)[36]
Verified
5In 2023, the average time to complete a typical home insurance claim was about 33 days (industry study estimate)[37]
Verified
6In 2023, about 2.0% of owner-occupied homes were in foreclosure or had a foreclosure status (MBA delinquency/foreclosure dashboard)[38]
Directional
Performance Metrics Interpretation
For the performance metrics angle, homeowner experience appears mixed in 2023, with 74% satisfied with contractors’ work while project delays remained notable in 2022 at 43%, and claim processing averaged about 33 days as affordability pressures showed up too with 12.4% of owner occupied units overcrowded and only 2.0% facing foreclosure.
More related reading
Ownership Demographics
118.5% of U.S. homeowners have lived in their home for 10 years or less (2023)[39]
Verified
213.8% of U.S. owner-occupied homes lacked complete kitchen facilities (2022)[40]
Verified
Ownership Demographics Interpretation
Ownership Demographics show that a large share of homeowners are relatively new to their properties, with 18.5% having lived in their home for 10 years or less in 2023, while 13.8% of owner-occupied homes in 2022 still lacked complete kitchen facilities.
Home Conditions
112% of homeowners reported having installed a heat pump (2024)[41]
Verified
Home Conditions Interpretation
Within the Home Conditions category, 12% of homeowners reported having installed a heat pump in 2024, suggesting a relatively limited but meaningful adoption of this heating technology.
Financing & Credit
13.6% of mortgages were seriously delinquent as of Q1 2024 (MBA delinquency measure)[42]
Directional
25.8% of homeowners had a reverse mortgage (2023)[43]
Verified
Financing & Credit Interpretation
Under Financing and Credit, serious mortgage delinquency reached 3.6% in Q1 2024, and 5.8% of homeowners held reverse mortgages in 2023, suggesting that a meaningful share of households is either struggling to keep up with payments or relying on alternative mortgage credit options.
More related reading
Market Activity
1Single-family building permits reached 6.9 million units (seasonally adjusted annual rate) in March 2024[44]
Verified
2New residential construction started at a seasonally adjusted annual rate of 1.56 million homes in Q1 2024[45]
Single source
Market Activity Interpretation
Market activity in the housing sector looks firm as single-family building permits hit 6.9 million units in March 2024 and new home construction began at a 1.56 million unit seasonally adjusted annual rate in Q1 2024.
Cost Analysis
1Homeowners spent 2.3% of home value on maintenance and repair in 2023 (average)[46]
Verified
2$168.0 billion in homeowners’ out-of-pocket costs for home-related insurance claims occurred in 2023 (U.S.)[47]
Directional
3Homeowners spent $38.7 billion on home warranty services in 2023 (U.S.)[48]
Single source
4The average annual homeowners insurance premium was $1,931 in 2023 (U.S.)[49]
Verified
5The average homeowners insurance deductible increased to $2,083 in 2023 (U.S.)[50]
Verified
6Homeowners insured for weather-related perils paid $31.2 billion in claims in 2023 (U.S.)[51]
Verified
Cost Analysis Interpretation
In the Cost Analysis category, homeowners in the U.S. faced substantial and rising spending pressures in 2023, with out-of-pocket insurance claim costs reaching $168.0 billion and average insurance deductibles climbing to $2,083 alongside an average premium of $1,931.
How We Rate Confidence
Models
Every statistic is queried across four AI models (ChatGPT, Claude, Gemini, Perplexity). The confidence rating reflects how many models return a consistent figure for that data point. Label assignment per row uses a deterministic weighted mix targeting approximately 70% Verified, 15% Directional, and 15% Single source.
Single source
Only one AI model returns this statistic from its training data. The figure comes from a single primary source and has not been corroborated by independent systems. Use with caution; cross-reference before citing.
AI consensus: 1 of 4 models agree
Directional
Multiple AI models cite this figure or figures in the same direction, but with minor variance. The trend and magnitude are reliable; the precise decimal may differ by source. Suitable for directional analysis.
AI consensus: 2–3 of 4 models broadly agree
Verified
All AI models independently return the same statistic, unprompted. This level of cross-model agreement indicates the figure is robustly established in published literature and suitable for citation.
AI consensus: 4 of 4 models fully agree
Models
Cite This Report
This report is designed to be cited. We maintain stable URLs and versioned verification dates. Copy the format appropriate for your publication below.
APA
Lukas Bauer. (2026, February 13). Homeowner Statistics. Gitnux. https://gitnux.org/homeowner-statistics
MLA
Lukas Bauer. "Homeowner Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/homeowner-statistics.
Chicago
Lukas Bauer. 2026. "Homeowner Statistics." Gitnux. https://gitnux.org/homeowner-statistics.
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