The nation's third quarter 2010 homeownership rate remained unchanged from the second quarter rate at 66.9 percent – the lowest in more than a decade, according to a Nov. 2 report from the Census Bureau. The last time the rate dipped below 67 percent was the fourth quarter 1999 when it hit 66.9 percent.

The homeownership rate fluctuated between 63.5 percent and 65.1 percent from 1985 through 1995. It climbed dramatically during the Clinton and Bush administrations, hitting a peak of 69.2 percent in the fourth quarter 2004 at the height of the housing boom. But since the housing bubble burst, the rate has been declining gradually.

For the third quarter 2010, the homeownership rates were highest in the Midwest (71.1 percent) and lowest in the West (61.3 percent). The homeownership rates in the South and West were lower than a year ago, while rates in the Northeast and Midwest were not statistically different from their corresponding third quarter 2009 rates.

The number of vacant homes – defined as houses and apartments – has skyrocketed over the past four years from about 16 million at the start of 2006 to around 19 million by the fourth quarter 2008, where it has lingered since, according to The Associated Press’ analysis. There are around 131 million housing units nationwide, according to the Census Bureau.