Friday, October 14, 2011

5 States With the Highest Home Ownership Rates

Where is home ownership the highest? Home ownership rates tended to be highest in states that are less populated and with low home prices, according to a review of recently released 2010 Census Data by 24/7 Wall St. On the other hand, states with the lowest home ownership rates tend to have more pricey homes and be in large cities.
The following are the states with the highest percentage of homes occupied by their owners.
1. West Virginia
Home ownership rate: 73.4%
Median home value: $94,500
2. Minnesota
Home ownership rate: 73%
Median home value: $200,400
3. Michigan
Home ownership rate: 72.1%
Median home value: $132,200
4. Iowa
Home ownership rate: 72.1%
Median home value: $122,000
5. Delaware
Home ownership rate: 72.1%
Median home value: $294,400
The state with the lowest home ownership rate? New York, which has a home ownership rate of 53.3 percent.
Source: U.S. Census Bureau and “States With the Highest (and Lowest) Homeownership,” 247WallSt.com (Oct. 12, 2011)

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