Associated Press
Florida had one of the largest declines in homeownership in the nation during the past decade, according to new figures released Monday by the U.S. Census Bureau.
The homeownership rate in Florida went from more than 73 percent at the start of 2005 to just under 65 percent at the end of last year, according to the census.
The only states with steeper declines were Nevada, North Dakota, Minnesota, Alabama, and Arizona.
Like Florida, both Nevada and Arizona underwent a housing boom during the past decade followed by a severe bust when many homeowners lost their dwellings to foreclosure.
Among Florida’s largest cities, the metro area with the steepest decline in homeownership rate was South Florida, which went from a rate of 71 percent in early 2005 to 59 percent at the end of 2014.
Orlando’s homeownership rate went from 70 percent in 2005 to almost 62 percent last year.
Metro Tampa, which also includes St. Petersburg, went from 73 percent in 2005 to 66 percent last year.
Republished with permission of The Associated Press.
