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It all depends on the market youre looking to buy in.
You might have the capital but could be in the wrong location.
Cities with the Biggest Homeownership Decrease
1.
In 2010, the homeownership rate was 57.3% and by 2022 it was 50.76%.
Santa Maria is currently slightly more affordable, with the average price of a home being $626,351.
According to Zillow, the average price of a home in Charleston is currently $156,138.
(tie) Kalamazoo-Portage, Michigan Metro Area
In 2010, this areas homeownership rate was 67.98%.
Just twelve years later, it was down to 63.61%.
Homeownership, however, has fallen.
In 2010, the city had a healthy 70.22% homeownership rate.
By 2022, that had dropped to 66.07%.
And right now, the average price of a home in Binghamton is $172,502.
In 2010, the homeownership rate was 64.01%.
By 2022, that had slipped to 64.01%.
Cities with the Biggest Homeownership Increase1.
Salisbury, Maryland-Delaware Metro Area
Out of 200 cities, Salisbury saw the largest increase in homeownership.
In 2022, the homeownership rate was up to 71.44%.
Garretts Realty also points out that Greenville was ranked #4 on U.S. Newss 2024 Best Places to Live.
One of the reasons might be attainable homeownership.
Grand Strand, South Carolina-North Carolina (Myrtle Beach-Conway-North Myrtle Beach)
What makes the Strand so Grand?
It gets its name for the 60 uninterrupted miles of beaches along the coastal region of South Carolina.
Its no wonder that people have been wanting to move to such an idyllic area.
In 2010, the homeownership rate for the area was 70.43%.
Within only 12 years, it had grown to 78.52%.
Back then, the homeownership rate was 50.93%.
By 2022, it reached 58.49%.
The average price of a home now in Visalia is $386,300.
Prescott, Arizona Metro Area
Prescott is known for its historic landmarks andlively music scene.
This is in spite of the average home price being well above the national average at $606,978.
All housing prices are sourced viaZillowunless otherwise specified and are accurate as of Aug. 28, 2024.
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