Home Ownership
According to the latest 2021 PEMCO Insurance Northwest Poll: 2/3 of Seattle and 1/2 of Portland renters would like to own a home someday. But more than 3/4 say it may not happen (especially for younger people) because prices are so high. How about you? What’s your view on home ownership?
Do you own or rent the home you live in?
| Seattle Metro | Portland Metro | |||
|---|---|---|---|---|
| 2019 | 2021 | 2019 | 2021 | |
| 54 | 61 | 54 | 56 | Own |
| 40 | 33 | 39 | 39 | Rent |
| 5 | 5 | 5 | 4 | Other |
Do you own or rent the home you live in?
| Seattle Metro | Portland Metro | |||
|---|---|---|---|---|
| Male | Female | Male | Female | |
| 67 | 55 | 64 | 50 | Own |
| 26 | 41 | 31 | 44 | Rent |
| 5 | 4 | 5 | 4 | Other |
How likely are you to own a home someday?
| Seattle Metro | Portland Metro | |||
|---|---|---|---|---|
| 2019 | 2021 | 2019 | 2021 | |
| 261 | 152 | 222 | 173 | Do not own a home |
| 18 | 16 | 21 | 17 | Extremely likely |
| 22 | 22 | 18 | 14 | Very likely |
| 19 | 26 | 23 | 18 | Somewhat likely |
| 19 | 16 | 16 | 22 | Not too likely |
| 18 | 16 | 19 | 20 | Not at all likely |
| Seattle Metro | Portland Metro | |||
|---|---|---|---|---|
| Not Likely to Own | Likely to Own | Not Likely to Own | Likely to Own | |
| 49 | 103 | 73 | 100 | Do not own a home now and: |
| 61 | 48 | 60 | 57 | I can’t afford the down payment |
| 49 | 36 | 51 | 34 | I can’t afford the monthly mortgage payments |
| 39 | 27 | 32 | 34 | I can’t afford to purchase a home in the location I want |
| 35 | 18 | 32 | 25 | I can’t get a mortgage loan |
| 35 | 9 | 37 | 12 | I don’t want the upkeep and maintenance responsibilities |
| 33 | 10 | 27 | 20 | I can’t afford to purchase a home with the features I want |
| 12 | 5 | 14 | 4 | I’d rather spend my money doing other things |
| 8 | 10 | 8 | 11 | I’d rather invest my money in other ways |
| 2 | 4 | 10 | 3 | I want to be able to move quickly and selling a house takes too much time |
Compared to young adults coming to age in previous generations, do you agree or disagree that young adults today are less likely to own a home?
| Seattle Metro | Portland Metro | |||
|---|---|---|---|---|
| 2019 | 2021 | 2019 | 2021 | |
| 578 | 400 | 509 | 400 | Total |
| 31 | 32 | 32 | 32 | Agree strongly |
| 38 | 44 | 37 | 37 | Agree somewhat |
| 20 | 15 | 19 | 17 | Neither |
| 5 | 7 | 6 | 9 | Disagree somewhat |
| 3 | 1 | 1 | 1 | Disagree strongly |
| 3 | 1 | 5 | 4 | Don’t know |
In your opinion, are young adults today less likely to own a home because they don’t want to, mostly because they can’t afford to or mostly for some other reason?
| Seattle Metro | Portland Metro | |||
|---|---|---|---|---|
| 2019 | 2021 | 2019 | 2021 | |
| 401 | 302 | 352 | 277 | Less likely to own a home |
| 14 | 17 | 12 | 16 | Mostly because they don’t want to |
| 81 | 78 | 85 | 77 | Mostly because they can’t afford to |
| 3 | 4 | 3 | 5 | Mostly for some other reason |
| 2 | 1 | 0 | 2 | Don’t know |
About the PEMCO Insurance Northwest Poll
PEMCO Insurance commissioned this independent survey, conducted by FBK Research of Seattle, that asked Washington and Oregon residents questions about driving habits and attitudes toward current Northwest issues. The sample size, 600 respondents in Washington and 600 in Oregon, yields an accuracy of +/- 4.1 percent at the 95 percent confidence level. In other words, if this study were conducted 100 times, in 95 instances the data will not vary by more than the associated error range.
About PEMCO Insurance
PEMCO Insurance is the Defender of Your Northwest, providing auto, home, renters and boat coverage. We are consistently recognized for outstanding service, employee expertise and social impact. Our Mutual Good programs raise the achievement levels for youth in education; build stronger, greener environments; and increase safety at home, on the road and at play. Our mission: Free our communities to worry less and live more.
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