Young people hit hardest by fall in Palm Beach County homeownership rate

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Homeownership rates plunged nationally and in Palm Beach County after the Great Recession, but the effects vary widely by demographic group, according to research released Thursday by Trulia.

Young people have made a hard turn away from homeownership. Among 26- to 34-year-olds in Palm Beach County, 54.1 percent rented in 2006. By 2014, fully 71.3 percent rented. Older age groups saw homeownership rates fall, too, but not as drastically.

Among racial groups, Palm Beach County Hispanics fared best. In 2006, 51.4 percent of Hispanics rented. By 2014, that share had edged up to 54.2 percent. Whites and blacks saw bigger jumps.

 

 

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