Hawaii
Statistics on children, youth and families in Hawaii from the Annie E. Casey Foundation and Hawai'i Children's Action Network
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
Definition and Source
PROVIDER
Definition
Data Source
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 (for more information, read the comparison guidance and Period Estimates in the American Community Survey). 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 handbook on Understanding and Using American Community Survey Data for more information.
Following pandemic-related data collection disruptions, the Census Bureau revised its methodology to reduce nonresponse bias in data collected in 2020. After evaluating the effectiveness of this methodology, the Census Bureau determined the standard, full suite of 2016–2020 ACS 5-year data are fit for public release, government and business uses. To learn more about changes to the methodology, view the methodology user note.
A 90 percent confidence interval for each estimate can be found at the link in the footnotes below.Notes
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.
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