BISMARCK, N.D. (KXNET) — Owning a home is part of what many consider to be the "American Dream," but the rising cost of ownership means that it is nothing more than a fantasy for many. Unfortunately, as a recent study shows, this is even true in a state like North Dakota. In a study on home ownership across America, the New Jersey Real Estate Network analyzed data from the US Census Bureau on the number of homeowners in each state between 2014 and 2024. Through their research, the group discovered that ownership rates in North Dakota have lowered in recent years. Over the past decade, North Dakota's percentage of homeowners has decreased by a total of 2.64% — a frustrating statistic that is only rivaled by other areas with negative percentage changes. In contrast, states like Hawaii, Florida, and Nevada have reported larger numbers of new homeowners, with New Mexico in particular seeing a tremendous 11.42% increase. The loneliest work commutes in North Dakota On the topic of ND's ownership rate, the exact numbers vary over the years, with the highest percentage being present in 2020 and 2021. In 2024, however, the rate of home ownership decreased to 59.8%: A 2.3% decrease from 2023, and the lowest it has been in the entire decade. "It’s notable that homeownership has increased in certain states over the past decade," states a spokesperson from the NJ Real Estate Network in a news release, "even amid broader economic challenges. In seven states, including Connecticut, Mississippi, and West Virginia, homeownership has reached its highest level since 2014. While many states saw peak homeownership rates in 2020, followed by slight decreases in recent years, this may reflect various factors, including shifts in housing markets and affordability trends, as individuals continue to navigate evolving financial landscapes.”  To learn more about real estate in North Dakota, and to find a realtor in your area, visit the ND Real Estate Commission's website here. Close Thanks for signing up! Watch for us in your inbox. Subscribe Now Today's Top Stories SIGN UP NOW