California has a homeownership rate of just 56%, compared with 66% across the rest of the country, according to PPIC. PPIC researchers analyzed recent American Community Survey data to determine how homeownership changes as Californians age. Across much of the United States, homeownership rises rapidly as people move through their 20s and 30s. That delay has consequences that can continue for decades because homeownership remains a primary mechanism through which middle-income households accumulate wealth. PPIC found median household wealth of approximately $637,000 among Asian households and $538,000 among white households, compared with $101,000 among Black households and $56,000 among Latino households.