10 U.S. Cities Where Homeownership Is Increasing
For a significant number of Americans, homeownership remains an elusive dream. Soaring levels of student loan debt, the challenges of saving enough for a down payment, and skyrocketing housing prices are just a few of the major reasons keeping renters from becoming owners.
The U.S. Census Bureau reported in October that as of the third quarter of 2017 about 63.9 percent of Americans own a home. For those 35 and under, that figure is far smaller, just 35.6 percent.
Homeownership in the United States has continued to decline for several years, having peaked in 2004 at 69.2 percent.
A new report from realtor.com, however, found at least 10 cities around the country where there have been huge increases in home ownership. More than half of the cities named in the report offer median prices under the national median of $274,492.
Here are 10 cities where homeownership is increasing:
- Milwaukee, Wis.: $224,950 (median home price)
- Charlotte, N.C.: $327,050
- Memphis, Tenn.: $195,050
- Baltimore, Md.: $300,000
- Allentown, Pa.: $225,000
- Pittsburgh, Pa.: $174,950
- Albuquerque, N.M.: $239,950
- Nashville, Tenn.: $359,050
- Dallas, Texas: $339,950
- Syracuse, N.Y.: $149,950
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