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29% of Homeowners Are Mortgage-Free
Friday, January 11, 2013    
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Including 34.5% of homeowners ages 20-24

(NEWSER) – In a country ravaged by the housing crisis, a hefty chunk of homeowners—some 29.3%—have escaped the mortgage burden entirely, a new report by Zillow finds. A great deal of the 20.6 million Americans who own their homes outright are retirees: 77.6% of people 85 and older fully own their abodes, as do 62.7% of people 74 to 84. But plenty of the mortgage-free are also very young: Some 34.5% of homeowners ages 20 to 24 don't have mortgages, the according to Zillow's analysis.

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