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Fewer and fewer young people own their own home in North Rhine-Westphalia!
Home ownership in North Rhine-Westphalia is declining, especially among younger people. 2022 census data shows alarming trends.
Fewer and fewer young people own their own home in North Rhine-Westphalia!
Home ownership is becoming increasingly rare in North Rhine-Westphalia, especially among the younger generations. A current statistical analysis of the 2022 census shows that the home ownership rate in the country has fallen to 46.8 percent, while it was 49.8 percent in 2011. This makes NRW one of the lower classes in Europe when it comes to home ownership. This raises pressing questions not only for young adults, but also for society as a whole.
The development among 27-year-olds is particularly frightening: over 76 percent live in rent. The 24 to 32 year old age group generally has a high rental rate. According to the data from Haus und Grund Haus und Grund, the picture is clearer over 49 years. Here the ownership rate is higher than the rental rate, which shows a significant change; The turning point for this has shifted from 41 years to 49 years compared to 2011.
Decline in home ownership rates across different age groups
The 13-year-old age group is experiencing a particularly sharp decline: the ownership rate fell from 57.2 percent in 2011 to 49.5 percent in 2022. The trend is also clearly moving in the same direction among 43-year-olds - here the rate fell from 53.2 percent to 45.8 percent. It can be seen that younger adults are increasingly less able to purchase home ownership.
On the other hand, the older generations over 72 years of age are enjoying an increased ownership rate. In particular, 92 and 99 year olds were able to noticeably increase their share of home ownership, with an increase of 6.2 and 6.3 percentage points respectively. This trend could indicate a growing need for security in old age.
Influencing factors and challenges
The reasons for the decline in home ownership are diverse. A central factor is the rising construction costs, which make it difficult for young people in particular to afford their own home. The high property transfer tax in North Rhine-Westphalia also contributes to this problem. In addition, worsening financial conditions make access to housing more difficult. The statistical survey, which only takes into account primary residences and owner-occupiers, provides a clear-eyed view of the current situation. Tenants who own property but rent rent were counted as renters in the survey, which may further obscure the facts. These challenges shed light on ways in which the purchase of home ownership could be made more attractive again for younger generations IT NRW.