Posted in Industry News
Top Ten American Metros With Highest Homeownership Rates
The National Association of Home Builders recently organized a study based off the 2012 American Community Survey to show which metros across the country have the highest homeownership rates.
A metro consists of all counties that share a local labor and housing market, based on commuter patterns. The homeownership rate is calculated by taking the overall number of owner-occupied units divided by overall number of occupied units, which can be rented or owned.
Additionally, homeownership rate is linked to affordability. In most cases, homeownership rates are higher when homes are more affordable.
The top ten American metros in 2012 were as follows:
- Barnstable Town, MA
- Punta Gorda, FL
- Nassau-Suffolk, NY Metro Division, New York-Northern New Jersey-Long Island, NY-NJ-PA
- Holland-Grand Haven, MI
- Bay City, MI
- Monroe, MI
- Houma-Bayou Cane-Thibodaux, LA
- Idaho Falls, ID
- Palm Coast, FL
- Johnstown, PA
Eight of these ten metros had a median home value below the national median home value of $171,900.
Read the full article from NAHB here.
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