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Revealed: The States with the Highest Home Ownership Rates

April 13, 2023 No Comments

New study reveals the U.S. state with the highest home ownership rate.

• Maine has the highest home ownership rate of the U.S. at 33%.

• West Virginia and Vermont are second and third.

• California has the lowest homeownership rate of the country at 18%.

Maine is the state with the highest home ownership in the United States, a new study revealed. The study, conducted by Malibu real estate agents, analyzed Census data on housing units, owner occupied units, and the total population of each state to discover which of the 50 states plus have the highest and the lowest homeownership rate.

Maine Homeownership

Maine: The number of owner-occupied housing units totals 437,858.38. The state has a total population of 1,338,404 results with a home ownership rate of 32.71%.

West Virginia & Vermont Highest Homeownership Rates

Second and third on the list are West Virginia and Vermont, which have almost the same home ownership rate – West Virginia at 32.15% and Vermont at 32.11%.

This is despite the large disparity in population the two states register.

West Virginia’s population is 1,805,832 and the number of owner-occupied housing units is 580,539; while in Vermont the population amounts to 626,299. The number of owner-occupied housing units is 201,094, more than half the numbers of the former.

USA Homeownership Data

A spokesperson for Malibu real estate agents commented on the findings: “Among the states with the highest rate and those with the lowest rate, the values are very similar.

The values at the two poles of the list:

Maine on one side and California on the other have a drastic gap between them due to the population of California and the demographics of the state, which makes it more complicated for a large majority of the population to own a home.

Factors that matter for Midterm Elections

Spending power per household
Household Demographics: Homeownership vs. Renters
Influence power ( business and social network)
Political and Social Gender Influence

Top five U.S. states with the lowest homeownership rate

State	Rate of Own Home Ownership
California	18.35%
Hawaii	19.36%
New York	20.52%
Alaska	23.36%

Top five U.S. states with the highest homeownership rate

State	Rate of Own Home Ownership
Maine	32.71%
West Virginia	32.15%
Vermont	32.11%
Wyoming	30.30%
Missouri	30.29%

Data Source

Census.gov

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U.S. Cities That Renters Never Leave

January 12, 2023 No Comments

California is home to American cities where renters never leave because the U.S. Housing Marketing is always shaking up.

Are you renting or know family and friends who are city renters? If yes, it is time to show them the list of American cities that renters never leave because things are shaking up in the U.S. Housing Market.

The running streak of 124 straight months of rising home prices has been put to rest by several straight months of declining home prices in the United States (U.S.).

What does the current economic and housing climate mean for renters?

With rent across the country remaining at an all-time high, it begs the question:

By analyzing the U.S. Census Bureau housing data of more than 300 cities, here are the top places for homeowners and renters.

This report shows where Americans are staying locked in their leases and in a perpetual renting cycle. The top cities with the most long-term renters (people who moved in 22+ years ago) are:

1. New York (415,817 long-term renters)

2. Los Angeles (82,559 long-term renters)
3. Chicago (32,176 long-term renters)
4. San Francisco (25,803 long-term renters)
5. Philadelphia (14,511 long-term renters)

Why aren’t renters buying homes?

When renters are asked why they are not buying homes, the answer varies person to person.

While renters may not have the stability that home ownership provides, they are not always moving around. Find out which cities are home to the most long-term renters. Data analysis via Census Bureau data on renters who have been in the same home for 22+ years.

This nationwide survey found 71% of renters want to buy a home and the top deterrents include money, interest rates, and debt.

Take a look at the full report for more data on the cities with the most renters and homeowners.

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If you’re planning on buying, click here to learn more about how a 1031 Exchange can help preserve your assets when selling and buying investment properties. For investors thinking about converting a primary residence into a rental property, click here to learn more about how you can use a 1031 Exchange. You can find more information here about Investment Property Exchange Services, Inc. (IPX1031), the nation’s largest 1031 Exchange company.

In November 2022, the U.S. Census Bureau conducted a survey of 1,003 people from around the U.S. Among respondents, 48% identified as male, 49% as female, and 3% as non-binary or transgender with an average age of 39.

Methodology

This housing data from the U.S. Census Bureau, analyzed more than 300 cities with a population of 100,000 or more to determine which cities are home to the highest percentage of owners and renters. It also analyzed the cities with the most tenured renters by looking at renters who have lived in the same home for 22+ years.

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[Study] Half of Americans Say Their Dream Home is “Unattainable”

November 11, 2022 No Comments

Home ownership across generations by the numbers

While the real estate market seems to be cooling a bit, skyrocketing mortgage rates are driving affordability to the lowest level since the 1980s. Americans are taking notice and realizing their dream home may never be in the cards. I wanted to make sure you saw the report I sent last week on American’s dream homes.

More than 1,000 Americans across each generation were surveyed. The study found 90% believe owning a home is part of the American dream but 51% say it isn’t attainable.

Still, renters are hopeful they will get into a home soon. The report includes generational insights on what people are looking for in their ideal home and how many wish to own a vacation home.

If you close your eyes and picture your dream home, does it look similar to where you’re currently living?

For the overwhelming majority, that dream home is just a dream.

IPX1031 surveyed more than 1,000 Americans across each generation about their dream homes. 94% said they are not currently living in their dream home, with the top reason being they cannot afford it.

What would those dream homes look like? Where are the dream homes located? How much would the dream homes cost?

The study found…
– Modern was the top architecture and interior design style
– 57% prefer new construction over renovating a home
– 35% want four beds
– 38% want 3 baths

The most desired dream home features…
1. A view
2. Big backyard
3. A Large family room
4. Front porch

The top luxury amenities people are looking for are land and privacy (59%), a hobby room (48%), and a home theater (42%).

51% said their dream home is out of reach, with half of millennials estimating their dream home would cost between $500,000 to over a million dollars.

Take a look at the full report, which also includes generational insights on what people are looking for in their ideal home, how many renters plan to become homeowners in the next five years, and which generation wants to own a vacation home.

For unboxing of dream home features ( fridges, kitchen appliances, bathroom remodeling, or kitchen remodeling) or informational articles, email advertise@fromgirltogirl.com for pricing or requests.

To dream home states are California, Florida, New York, Washington, and Colorado.