Susan McAvoy (202) 720-4623
susan.mcavoy@usda.gov
Steve Thompson (202) 720-2446
sathomps@rdmail.rural.usda.gov

WASHINGTON, June 5, 2000--Agriculture Secretary Dan Glickman today announced that homeownership in rural America reached 75.4 percent at the end of 1999, an all-time high.

"Owning a home is the fulfilment of the American dream," Glickman said. "It helps people build equity for the future, and it provides the foundation for stable and prosperous communities. USDA has helped make the homeownership dream a reality for many rural Americans, especially those otherwise unable to obtain financing."

According to the U.S. Census Bureau, overall homeownership rates in the United States have risen from approximately 64 percent in 1993 to 66.8 percent in 1999. Rural rates have shown dramatic improvement, rising from 72.6 percent to 75.4 percent during the same period.

USDA has invested over $8.8 billion in loans for single-family homes in rural America during the past seven years, giving more than 182,000 rural families and individuals the chance to own their homes.

The Rural Home Loan Partnership initiative has helped USDA to expand rural homeownership. Since its inception in 1996, the partnership has provided more than $50 million to help 1,100 families in 36 states attain the American dream of homeownership.

The week of June 4, 2000 is National Homeownership Week and it will be celebrated with rural housing events across the country. To learn more about rural homeownership opportunties, visit: www.rurdev.usda.gov or telephone: (202) 690-1533.

#

Return to Rural Development News and Information Room.