The American housing market took off during the early months of the COVID-19 pandemic. The homeownership rate – or the share of housing units occupied by their owner – jumped by 2.6 percentage points from the first quarter to the second quarter of 2020, by far the largest increase ever recorded. By the end of 2020, there were 2.1 million more homeowners in the United States than there were a year earlier.Â
The surge in home sales was fueled by several factors, including historically low mortgage rates, and, as some experts speculate, the pandemic, which led many Americans to re-evaluate where and how they live. Here is a look at the mortgage rate in America every year since 1972.Â
Nationwide, the homeownership rate stands at 64.4%, according to the latest American Community Survey data from the U.S. Census Bureau. This rate varies substantially across the country, however, and in some major metropolitan areas, the homeownership rate is well above the national average.Â
Using census data, 24/7 Wall St. identified the 50 metro areas with the highest homeownership rates. Metro areas are ranked by the share of housing units occupied by their owners.Â
Among the metro areas on this list, homeownership rates range from 72.1% to 88.6%. Half of the metro areas on this list are in the South, including 12 in Florida alone.Â
Home values are generally relatively low in the metro areas on this list, making homeownership more affordable for larger shares of the population. In all but 13 metro areas on this list, the median home value is below the $229,800 value of the typical American home. Here is a look at the 20 cities where the middle class can no longer afford housing.
Click here to see cities where the most people own their homes
Click here to see our detailed methodology
Source: Sean Pavone / iStock via Getty Images
50. Portland-South Portland, ME
> Homeownership rate: 72.1%
> Median home value: $273,100 — 72nd highest of 384 metros
> Median monthly housing costs (w/ a mortgage): $1,694 — 67th highest of 384 metros
> Median monthly housing costs (no mortgage): $606 — 59th highest of 384 metros
> Median household income: $72,552 — 56th highest of 384 metros
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49. Deltona-Daytona Beach-Ormond Beach, FL
> Homeownership rate: 72.1%
> Median home value: $203,000 — 153rd highest of 384 metros
> Median monthly housing costs (w/ a mortgage): $1,324 — 165th lowest of 384 metros (tied)
> Median monthly housing costs (no mortgage): $474 — 190th highest of 384 metros (tied)
> Median household income: $53,339 — 106th lowest of 384 metros
Source: Sean Pavone / iStock via Getty Images
48. Wausau-Weston, WI
> Homeownership rate: 72.3%
> Median home value: $158,200 — 138th lowest of 384 metros
> Median monthly housing costs (w/ a mortgage): $1,241 — 113th lowest of 384 metros
> Median monthly housing costs (no mortgage): $478 — 180th highest of 384 metros (tied)
> Median household income: $62,237 — 134th highest of 384 metros
Source: JodiJacobson / E+ via Getty Images
47. Duluth, MN-WI
> Homeownership rate: 72.3%
> Median home value: $162,700 — 156th lowest of 384 metros
> Median monthly housing costs (w/ a mortgage): $1,276 — 137th lowest of 384 metros (tied)
> Median monthly housing costs (no mortgage): $465 — 178th lowest of 384 metros (tied)
> Median household income: $58,729 — 189th lowest of 384 metros
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46. Charleston, WV
> Homeownership rate: 72.5%
> Median home value: $110,100 — 15th lowest of 384 metros
> Median monthly housing costs (w/ a mortgage): $1,008 — 13th lowest of 384 metros
> Median monthly housing costs (no mortgage): $350 — 28th lowest of 384 metros (tied)
> Median household income: $46,099 — 16th lowest of 384 metros
45. Cheyenne, WY
> Homeownership rate: 72.6%
> Median home value: $239,900 — 109th highest of 384 metros
> Median monthly housing costs (w/ a mortgage): $1,498 — 127th highest of 384 metros
> Median monthly housing costs (no mortgage): $474 — 190th highest of 384 metros (tied)
> Median household income: $69,369 — 72nd highest of 384 metros
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44. Prescott Valley-Prescott, AZ
> Homeownership rate: 72.6%
> Median home value: $273,300 — 71st highest of 384 metros
> Median monthly housing costs (w/ a mortgage): $1,384 — 177th highest of 384 metros
> Median monthly housing costs (no mortgage): $398 — 87th lowest of 384 metros (tied)
> Median household income: $53,329 — 105th lowest of 384 metros
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Source: bpperry / iStock via Getty Images
43. Lewiston, ID-WA
> Homeownership rate: 72.7%
> Median home value: $207,200 — 147th highest of 384 metros
> Median monthly housing costs (w/ a mortgage): $1,326 — 167th lowest of 384 metros
> Median monthly housing costs (no mortgage): $411 — 109th lowest of 384 metros (tied)
> Median household income: $55,657 — 151st lowest of 384 metros
Source: CampPhoto / iStock via Getty Images
42. Cape Coral-Fort Myers, FL
> Homeownership rate: 72.7%
> Median home value: $235,300 — 114th highest of 384 metros
> Median monthly housing costs (w/ a mortgage): $1,501 — 126th highest of 384 metros
> Median monthly housing costs (no mortgage): $581 — 70th highest of 384 metros
> Median household income: $59,608 — 178th highest of 384 metros
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Source: DenisTangneyJr / E+ via Getty Images
41. Parkersburg-Vienna, WV
> Homeownership rate: 72.8%
> Median home value: $123,800 — 37th lowest of 384 metros
> Median monthly housing costs (w/ a mortgage): $961 — 5th lowest of 384 metros
> Median monthly housing costs (no mortgage): $327 — 8th lowest of 384 metros
> Median household income: $48,369 — 45th lowest of 384 metros
40. Gadsden, AL
> Homeownership rate: 73.0%
> Median home value: $124,400 — 39th lowest of 384 metros
> Median monthly housing costs (w/ a mortgage): $1,069 — 26th lowest of 384 metros
> Median monthly housing costs (no mortgage): $346 — 23rd lowest of 384 metros (tied)
> Median household income: $44,934 — 9th lowest of 384 metros
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39. Michigan City-La Porte, IN
> Homeownership rate: 73.3%
> Median home value: $139,900 — 75th lowest of 384 metros
> Median monthly housing costs (w/ a mortgage): $1,060 — 24th lowest of 384 metros
> Median monthly housing costs (no mortgage): $412 — 113th lowest of 384 metros
> Median household income: $57,010 — 166th lowest of 384 metros
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38. Dubuque, IA
> Homeownership rate: 73.4%
> Median home value: $175,300 — 180th lowest of 384 metros (tied)
> Median monthly housing costs (w/ a mortgage): $1,330 — 173rd lowest of 384 metros (tied)
> Median monthly housing costs (no mortgage): $527 — 115th highest of 384 metros (tied)
> Median household income: $64,493 — 108th highest of 384 metros
Source: DenisTangneyJr / iStock via Getty Images
37. Appleton, WI
> Homeownership rate: 73.4%
> Median home value: $180,300 — 192nd lowest of 384 metros
> Median monthly housing costs (w/ a mortgage): $1,366 — 189th highest of 384 metros
> Median monthly housing costs (no mortgage): $554 — 85th highest of 384 metros (tied)
> Median household income: $70,261 — 66th highest of 384 metros
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36. Hickory-Lenoir-Morganton, NC
> Homeownership rate: 73.4%
> Median home value: $139,100 — 72nd lowest of 384 metros
> Median monthly housing costs (w/ a mortgage): $1,048 — 18th lowest of 384 metros
> Median monthly housing costs (no mortgage): $330 — 10th lowest of 384 metros
> Median household income: $49,706 — 56th lowest of 384 metros
Source: Sean Pavone / iStock via Getty Images
35. Grand Rapids-Kentwood, MI
> Homeownership rate: 73.4%
> Median home value: $186,500 — 178th highest of 384 metros (tied)
> Median monthly housing costs (w/ a mortgage): $1,305 — 158th lowest of 384 metros
> Median monthly housing costs (no mortgage): $490 — 166th highest of 384 metros (tied)
> Median household income: $66,297 — 94th highest of 384 metros
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Source: JHVEPhoto / iStock Editorial via Getty Images
34. Decatur, AL
> Homeownership rate: 73.5%
> Median home value: $137,600 — 64th lowest of 384 metros (tied)
> Median monthly housing costs (w/ a mortgage): $1,095 — 39th lowest of 384 metros (tied)
> Median monthly housing costs (no mortgage): $357 — 37th lowest of 384 metros (tied)
> Median household income: $51,842 — 84th lowest of 384 metros
Source: J. Michael Jones / iStock Editorial via Getty Images
33. Kingsport-Bristol, TN-VA
> Homeownership rate: 73.5%
> Median home value: $140,800 — 78th lowest of 384 metros
> Median monthly housing costs (w/ a mortgage): $1,054 — 21st lowest of 384 metros
> Median monthly housing costs (no mortgage): $332 — 11th lowest of 384 metros
> Median household income: $46,685 — 24th lowest of 384 metros
32. Houma-Thibodaux, LA
> Homeownership rate: 73.9%
> Median home value: $157,000 — 134th lowest of 384 metros
> Median monthly housing costs (w/ a mortgage): $1,309 — 159th lowest of 384 metros
> Median monthly housing costs (no mortgage): $298 — 2nd lowest of 384 metros
> Median household income: $53,267 — 103rd lowest of 384 metros
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31. Jackson, MI
> Homeownership rate: 74.3%
> Median home value: $138,900 — 71st lowest of 384 metros
> Median monthly housing costs (w/ a mortgage): $1,151 — 61st lowest of 384 metros
> Median monthly housing costs (no mortgage): $454 — 163rd lowest of 384 metros
> Median household income: $54,511 — 126th lowest of 384 metros
Source: Alexey_Fedoren / iStock via Getty Images
30. Salisbury, MD-DE
> Homeownership rate: 74.3%
> Median home value: $243,900 — 100th highest of 384 metros
> Median monthly housing costs (w/ a mortgage): $1,471 — 141st highest of 384 metros (tied)
> Median monthly housing costs (no mortgage): $490 — 166th highest of 384 metros (tied)
> Median household income: $62,799 — 126th highest of 384 metros
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29. Naples-Marco Island, FL
> Homeownership rate: 74.4%
> Median home value: $366,600 — 29th highest of 384 metros
> Median monthly housing costs (w/ a mortgage): $1,882 — 43rd highest of 384 metros
> Median monthly housing costs (no mortgage): $768 — 13th highest of 384 metros
> Median household income: $70,217 — 67th highest of 384 metros
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Source: ChrisBoswell / iStock via Getty Images
28. Wheeling, WV-OH
> Homeownership rate: 74.5%
> Median home value: $115,200 — 20th lowest of 384 metros
> Median monthly housing costs (w/ a mortgage): $976 — 8th lowest of 384 metros
> Median monthly housing costs (no mortgage): $374 — 49th lowest of 384 metros
> Median household income: $49,928 — 57th lowest of 384 metros
Source: RondaKimbrow / iStock via Getty Images
27. Greeley, CO
> Homeownership rate: 74.5%
> Median home value: $326,100 — 37th highest of 384 metros
> Median monthly housing costs (w/ a mortgage): $1,721 — 64th highest of 384 metros
> Median monthly housing costs (no mortgage): $470 — 188th lowest of 384 metros
> Median household income: $74,332 — 50th highest of 384 metros
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Source: Sean Pavone / iStock via Getty Images
26. Hilton Head Island-Bluffton, SC
> Homeownership rate: 74.6%
> Median home value: $295,000 — 54th highest of 384 metros
> Median monthly housing costs (w/ a mortgage): $1,625 — 81st highest of 384 metros
> Median monthly housing costs (no mortgage): $520 — 127th highest of 384 metros (tied)
> Median household income: $67,723 — 85th highest of 384 metros
Source: WilliamSherman / iStock via Getty Images
25. Johnstown, PA
> Homeownership rate: 74.7%
> Median home value: $94,900 — 5th lowest of 384 metros
> Median monthly housing costs (w/ a mortgage): $1,051 — 19th lowest of 384 metros
> Median monthly housing costs (no mortgage): $440 — 146th lowest of 384 metros (tied)
> Median household income: $47,644 — 32nd lowest of 384 metros
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24. Ocala, FL
> Homeownership rate: 74.8%
> Median home value: $151,700 — 109th lowest of 384 metros (tied)
> Median monthly housing costs (w/ a mortgage): $1,135 — 51st lowest of 384 metros
> Median monthly housing costs (no mortgage): $372 — 47th lowest of 384 metros
> Median household income: $46,587 — 22nd lowest of 384 metros
Source: ChrisBoswell / iStock via Getty Images
23. York-Hanover, PA
> Homeownership rate: 74.8%
> Median home value: $183,300 — 184th highest of 384 metros
> Median monthly housing costs (w/ a mortgage): $1,548 — 110th highest of 384 metros
> Median monthly housing costs (no mortgage): $609 — 56th highest of 384 metros
> Median household income: $68,940 — 75th highest of 384 metros
Source: BanksPhotos / E+ via Getty Images
22. Rochester, MN
> Homeownership rate: 75.0%
> Median home value: $218,500 — 134th highest of 384 metros
> Median monthly housing costs (w/ a mortgage): $1,513 — 122nd highest of 384 metros
> Median monthly housing costs (no mortgage): $542 — 100th highest of 384 metros (tied)
> Median household income: $76,787 — 38th highest of 384 metros
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21. North Port-Sarasota-Bradenton, FL
> Homeownership rate: 75.1%
> Median home value: $261,100 — 82nd highest of 384 metros
> Median monthly housing costs (w/ a mortgage): $1,563 — 99th highest of 384 metros (tied)
> Median monthly housing costs (no mortgage): $566 — 80th highest of 384 metros
> Median household income: $62,438 — 132nd highest of 384 metros
Source: ChrisBoswell / iStock via Getty Images
20. Cedar Rapids, IA
> Homeownership rate: 75.3%
> Median home value: $159,800 — 142nd lowest of 384 metros (tied)
> Median monthly housing costs (w/ a mortgage): $1,350 — 184th lowest of 384 metros (tied)
> Median monthly housing costs (no mortgage): $535 — 107th highest of 384 metros (tied)
> Median household income: $66,620 — 91st highest of 384 metros
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19. Palm Bay-Melbourne-Titusville, FL
> Homeownership rate: 75.6%
> Median home value: $220,000 — 129th highest of 384 metros (tied)
> Median monthly housing costs (w/ a mortgage): $1,426 — 157th highest of 384 metros (tied)
> Median monthly housing costs (no mortgage): $458 — 167th lowest of 384 metros (tied)
> Median household income: $59,359 — 183rd highest of 384 metros
18. Beckley, WV
> Homeownership rate: 75.7%
> Median home value: $104,100 — 10th lowest of 384 metros
> Median monthly housing costs (w/ a mortgage): $985 — 9th lowest of 384 metros
> Median monthly housing costs (no mortgage): $335 — 12th lowest of 384 metros (tied)
> Median household income: $43,444 — 5th lowest of 384 metros
Source: wbritten / iStock Unreleased via Getty Images
17. Myrtle Beach-Conway-North Myrtle Beach, SC-NC
> Homeownership rate: 76.0%
> Median home value: $195,700 — 162nd highest of 384 metros
> Median monthly housing costs (w/ a mortgage): $1,296 — 152nd lowest of 384 metros (tied)
> Median monthly housing costs (no mortgage): $419 — 125th lowest of 384 metros
> Median household income: $53,832 — 117th lowest of 384 metros
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Source: ShriramPatki / iStock via Getty Images
16. Bay City, MI
> Homeownership rate: 76.1%
> Median home value: $106,400 — 12th lowest of 384 metros
> Median monthly housing costs (w/ a mortgage): $1,061 — 25th lowest of 384 metros
> Median monthly housing costs (no mortgage): $455 — 164th lowest of 384 metros
> Median household income: $48,290 — 43rd lowest of 384 metros
Source: smontgom65 / iStock via Getty Images
15. Muskegon, MI
> Homeownership rate: 76.2%
> Median home value: $126,400 — 45th lowest of 384 metros
> Median monthly housing costs (w/ a mortgage): $1,087 — 32nd lowest of 384 metros (tied)
> Median monthly housing costs (no mortgage): $439 — 144th lowest of 384 metros (tied)
> Median household income: $53,478 — 108th lowest of 384 metros
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14. Port St. Lucie, FL
> Homeownership rate: 76.6%
> Median home value: $227,800 — 119th highest of 384 metros
> Median monthly housing costs (w/ a mortgage): $1,521 — 115th highest of 384 metros
> Median monthly housing costs (no mortgage): $547 — 93rd highest of 384 metros
> Median household income: $58,039 — 182nd lowest of 384 metros
Source: DenisTangneyJr / iStock via Getty Images
13. Ogden-Clearfield, UT
> Homeownership rate: 76.6%
> Median home value: $284,500 — 64th highest of 384 metros
> Median monthly housing costs (w/ a mortgage): $1,537 — 111th highest of 384 metros
> Median monthly housing costs (no mortgage): $430 — 135th lowest of 384 metros
> Median household income: $78,680 — 30th highest of 384 metros
Source: Warren-Pender / Getty Images
12. Sebring-Avon Park, FL
> Homeownership rate: 77.0%
> Median home value: $120,500 — 31st lowest of 384 metros (tied)
> Median monthly housing costs (w/ a mortgage): $993 — 10th lowest of 384 metros
> Median monthly housing costs (no mortgage): $345 — 21st lowest of 384 metros (tied)
> Median household income: $43,708 — 6th lowest of 384 metros
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11. Daphne-Fairhope-Foley, AL
> Homeownership rate: 77.0%
> Median home value: $211,600 — 142nd highest of 384 metros
> Median monthly housing costs (w/ a mortgage): $1,374 — 184th highest of 384 metros
> Median monthly housing costs (no mortgage): $389 — 77th lowest of 384 metros
> Median household income: $61,756 — 145th highest of 384 metros
Source: AlizadaStudios / iStock Editorial via Getty Images
10. East Stroudsburg, PA
> Homeownership rate: 77.1%
> Median home value: $173,800 — 178th lowest of 384 metros
> Median monthly housing costs (w/ a mortgage): $1,664 — 75th highest of 384 metros
> Median monthly housing costs (no mortgage): $658 — 36th highest of 384 metros (tied)
> Median household income: $68,734 — 77th highest of 384 metros
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Source: ShriramPatki / iStock via Getty Images
9. Midland, MI
> Homeownership rate: 77.3%
> Median home value: $145,900 — 91st lowest of 384 metros
> Median monthly housing costs (w/ a mortgage): $1,239 — 112th lowest of 384 metros
> Median monthly housing costs (no mortgage): $492 — 162nd highest of 384 metros (tied)
> Median household income: $64,078 — 112th highest of 384 metros
Source: Pgiam / iStock Unreleased via Getty Images
8. Gettysburg, PA
> Homeownership rate: 77.8%
> Median home value: $212,300 — 141st highest of 384 metros
> Median monthly housing costs (w/ a mortgage): $1,560 — 101st highest of 384 metros
> Median monthly housing costs (no mortgage): $569 — 78th highest of 384 metros
> Median household income: $68,411 — 80th highest of 384 metros
Source: Aneese / iStock via Getty Images
7. Ocean City, NJ
> Homeownership rate: 78.0%
> Median home value: $306,200 — 43rd highest of 384 metros
> Median monthly housing costs (w/ a mortgage): $1,846 — 46th highest of 384 metros
> Median monthly housing costs (no mortgage): $802 — 11th highest of 384 metros
> Median household income: $72,385 — 57th highest of 384 metros
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Source: DenisTangneyJr / iStock via Getty Images
6. Barnstable Town, MA
> Homeownership rate: 79.6%
> Median home value: $414,000 — 21st highest of 384 metros
> Median monthly housing costs (w/ a mortgage): $2,015 — 27th highest of 384 metros
> Median monthly housing costs (no mortgage): $739 — 23rd highest of 384 metros
> Median household income: $76,863 — 37th highest of 384 metros
Source: Penny Britt / iStock via Getty Images
5. Sebastian-Vero Beach, FL
> Homeownership rate: 80.0%
> Median home value: $220,700 — 128th highest of 384 metros
> Median monthly housing costs (w/ a mortgage): $1,344 — 182nd lowest of 384 metros
> Median monthly housing costs (no mortgage): $527 — 115th highest of 384 metros (tied)
> Median household income: $57,945 — 180th lowest of 384 metros
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Source: csfotoimages / iStock via Getty Images
4. Monroe, MI
> Homeownership rate: 80.6%
> Median home value: $167,400 — 168th lowest of 384 metros
> Median monthly housing costs (w/ a mortgage): $1,352 — 187th lowest of 384 metros
> Median monthly housing costs (no mortgage): $489 — 169th highest of 384 metros (tied)
> Median household income: $65,453 — 100th highest of 384 metros
Source: choicegraphx / iStock via Getty Images
3. Punta Gorda, FL
> Homeownership rate: 81.6%
> Median home value: $209,500 — 144th highest of 384 metros
> Median monthly housing costs (w/ a mortgage): $1,331 — 175th lowest of 384 metros
> Median monthly housing costs (no mortgage): $501 — 147th highest of 384 metros (tied)
> Median household income: $52,724 — 96th lowest of 384 metros
Source: csfotoimages / iStock Editorial via Getty Images
2. Homosassa Springs, FL
> Homeownership rate: 83.5%
> Median home value: $144,100 — 85th lowest of 384 metros
> Median monthly housing costs (w/ a mortgage): $1,006 — 11th lowest of 384 metros
> Median monthly housing costs (no mortgage): $337 — 15th lowest of 384 metros
> Median household income: $45,689 — 11th lowest of 384 metros
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Source: JillianCain / iStock Editorial via Getty Images
1. The Villages, FL
> Homeownership rate: 88.6%
> Median home value: $267,100 — 80th highest of 384 metros
> Median monthly housing costs (w/ a mortgage): $1,328 — 169th lowest of 384 metros (tied)
> Median monthly housing costs (no mortgage): $471 — 189th lowest of 384 metros (tied)
> Median household income: $59,618 — 177th highest of 384 metros
Methodology
To determine the towns with the highest homeownership rates, 24/7 Wall St. reviewed five-year estimates of the share of housing units that are occupied by their owners from the U.S. Census Bureau’s 2020 American Community Survey. Metro areas were ranked based on the percentage of housing units that are occupied by their owners. To break ties, we used the number of housing units that are occupied by their owners.
We used the 384 metropolitan statistical areas as delineated by the United States Office of Management and Budget and used by the Census Bureau as our definition of metros.
Additional information on median home value, median housing costs with and without a mortgage, and median household income are also five-year estimates from the 2020 ACS. Because the Census Bureau didn’t release one-year estimates for 2020 due to data collection issues caused by the COVID-19 pandemic, all ACS data are five-year estimates.
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