Housing by occupation status in Hawaii

Change Indicator

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Why This Indicator Matters

Homeownership is a significant asset and important component to building savings and individual wealth.1 Homeownership can also provide for secure residential tenure. However, not everyone has equal access to homeownership.2 Racial minorities have lower rates of homeownership and experience less returns on this asset compared to whites.3

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Data Provided By

Definitions: Percent of housing units that are owner occupied versus renter occupied 

Data Source: U.S. Census Bureau, various years, American Community Survey 5-Year Estimates, DP04 "Selected housing characteristics."

Technical Notes:
Please note, the U.S. Census Bureau’s American Community Survey (ACS) 5-year estimates provide average characteristics aggregated over a 5-year period. The primary advantage of using multiyear estimates is the increased statistical reliability of the data for less populated areas and small population subgroups. However, 5-year estimates are less current than single year estimates (i.e., since they are derived from averages over five calendar years) and should not be compared to single year estimates. The Census Bureau suggests comparing periods that do not overlap, such as comparing 2007-2011 with 2012-2016, which means waiting longer to identify a trend. However, in areas undergoing fundamental shifts in the size or composition of the population, change may be so substantial that it will be obvious after only a few years. Please see the ACS data use handbook for more information (https://www.census.gov/content/dam/Census/library/publications/2008/acs/ACSGeneralHandbook.pdf).

A 90 percent confidence interval for each estimate can be found at the link in the footnotes below.

Footnotes:

1 Rappaport, Jordan. 2010. “The Effectiveness of Homeownership in Building Household Wealth.” Economic Review Fourth Quarter.
2 Sinai, T., & Souleles, N. S. (2005). Owner-Occupied Housing as a Hedge Against Rent Risk. The Quarterly Journal of Economics, 120(2), 763–789.
3 Shapiro, Thomas. 2006. “Race, Homeownership, and Wealth.” Washington University Journal of Law & Policy 20(53): 53- 74.

Housing by occupation status.