According to the Census Bureau, the U.S. homeownerhip rate was 63.9 in Q3 of 2017 – which is nearly points lower than before the housing crisis. However, there are some areas of the country where homeownership is growing…but where and at what pace? That’s question Realtor.com set out to discover with their list of the nation’s top metros with the fastest growing homeownership rates. Interestingly, a little over half of the metros on their list have median prices well under the national median of $274,492.
“‘Affordability is a strong draw to these areas,’ says Danielle Hale, chief economist at realtor.com. A lot of these cities are on the outskirts of big cities where folks can snag an abode for less and then commute downtown for work, she adds.
The top 10 cities with the fastest growing rates of homeownership are:
- Milwaukee, WI
- Charlotte, NC
- Memphis, TN
- Baltimore, MD
- Allentown, PA
- Pittsburgh, PA
- Albuquerque, NM
- Nashville, TN
- Dallas, TX
- Syracuse, NY
Click here to read the full story on Realtor.com.
