Detroit Ranks High In Homeownership Rate Study

(CBS Detroit) – Owning a home is a goal for many people. Many factors affect owning a home, and owning a home is easier in certain states and cities versus others.

AdvisorSmith just completed a study where they researched the 75 biggest metropolitan areas to see which cities have the highest homeownership rates.

Results show that Detroit has the No. 9 highest homeownership rates.

The study also showed:

• The homeownership rate in Detroit was 71.8%.
• The typical home value in Detroit is $196,916.
• Nationwide, an average of 66.6% of homes was owner-occupied, and the typical home is valued at $266,222 at the end of 2020.

This infographic shows the statistics for the top ten cities:

To view the full study, visit: https://advisorsmith.com/data/states-and-cities-with-the-highest-homeownership-rates/

In:
• Detroit