What does this measure?
The percentage of all occupied housing units (not vacant) that are owner–occupied (not rented).
Why is this important?
A home is often a family’s greatest financial asset. Owning a home is a traditional part of the American dream and a typical entry point into the middle class. Homeownership is an important factor for neighborhood stability and civic participation.
How are Cayuga and Seneca counties performing?
In 2006–10, the homeownership rate was 72% in Cayuga County and 77% in Seneca County, compared to 71% at the state (excluding NYC) level and 67% nationally. Among comparison counties, homeownership rates were 74–76%, with the exception of Onondaga, which had a rate of 66%. Rates have remained fairly stable since 2000, fluctuating by a point or two, with the exception of the rate in Seneca, which increased nearly 4%. In Cayuga, homeownership rates were highest in Fleming, Owasco and Throop, all with rates of 95% or higher, while the lowest rate was in Auburn (49%). In Seneca, the highest rate was in Fayette (90%) while the lowest was in Seneca Falls (65%).
Notes about the data
Figures are from the Census Bureau’s 2006–10 American Community Survey. The bureau combined five years of responses to the survey to provide estimates for smaller geographic areas and increase the precision of its estimates. However, because the information came from a survey, the samples responding to the survey were not always large enough to produce reliable results, especially in small geographic areas. CGR has noted on data tables the estimates with relatively large margins of error. Estimates with three asterisks have the largest margins, plus or minus 50% or more of the estimate. Two asterisks mean plus or minus 35%–50%, and one asterisk means plus or minus 20%–35%. For all estimates, the confidence level is 90%, meaning there is 90% probability the true value (if the whole population were surveyed) would be within the margin of error (or confidence interval). The survey provides data on characteristics of the population that used to be collected only during the decennial census.