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, from state to state, and city to city.Â
Using census data, 24/7 Wall St. identified the metro area in every state with the highest homeownership rate. Metro areas are ranked by the share of housing units occupied by their owners.Â
It is important to note that four states – Delaware, New Hampshire, Rhode Island, and Vermont – each have only one metro area and it ranks as having the highest homeownership rate by default only. Among the places on this list, homeownership rates range from 58.2% to 88.6% and are higher than the corresponding state homeownership rate in the vast majority of cases.Â
In half of the metro areas on this list, median household incomes are higher than they are across the state. Higher incomes can help make homeownership more affordable for larger shares of the population. In most of the metro areas with lower than average incomes, the median home value is also below the comparable statewide home value – also contributing to greater affordability. Here is a look at the 20 cities where the middle class can no longer afford housing.Â
Click here to see the city with the highest homeownership rate in each state
Click here to read our detailed methodology
Source: Kruck20 / iStock via Getty Images
Alabama: Daphne-Fairhope-Foley
> Homeownership rate: 77.0% (Alabama: 69.2%)
> Median home value: $211,600 (Alabama: $149,600)
> Median monthly housing costs (w/ a mortgage): $1,374 (Alabama: $1,196)
> Median monthly housing costs (no mortgage): $389 (Alabama: $367)
> Median household income: $61,756 (Alabama: $52,035)
> No. of metros considered in ranking: 12
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Source: Jacob Boomsma / iStock via Getty Images
Alaska: Anchorage
> Homeownership rate: 65.6% (Alaska: 64.8%)
> Median home value: $301,100 (Alaska: $275,600)
> Median monthly housing costs (w/ a mortgage): $2,045 (Alaska: $1,937)
> Median monthly housing costs (no mortgage): $693 (Alaska: $591)
> Median household income: $82,890 (Alaska: $77,790)
> No. of metros considered in ranking: 2
Source: Althom / iStock Editorial via Getty Images
Arizona: Prescott Valley-Prescott
> Homeownership rate: 72.6% (Arizona: 65.3%)
> Median home value: $273,300 (Arizona: $242,000)
> Median monthly housing costs (w/ a mortgage): $1,384 (Arizona: $1,464)
> Median monthly housing costs (no mortgage): $398 (Arizona: $430)
> Median household income: $53,329 (Arizona: $61,529)
> No. of metros considered in ranking: 7
Source: Sean Pavone / iStock via Getty Images
Arkansas: Hot Springs
> Homeownership rate: 67.1% (Arkansas: 65.8%)
> Median home value: $142,100 (Arkansas: $133,600)
> Median monthly housing costs (w/ a mortgage): $1,055 (Arkansas: $1,103)
> Median monthly housing costs (no mortgage): $352 (Arkansas: $353)
> Median household income: $48,150 (Arkansas: $49,475)
> No. of metros considered in ranking: 6
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Source: garytog / iStock via Getty Images
California: Madera
> Homeownership rate: 65.8% (California: 55.3%)
> Median home value: $268,500 (California: $538,500)
> Median monthly housing costs (w/ a mortgage): $1,578 (California: $2,422)
> Median monthly housing costs (no mortgage): $490 (California: $618)
> Median household income: $61,924 (California: $78,672)
> No. of metros considered in ranking: 26
Source: RondaKimbrow / iStock via Getty Images
Colorado: Greeley
> Homeownership rate: 74.5% (Colorado: 66.2%)
> Median home value: $326,100 (Colorado: $369,900)
> Median monthly housing costs (w/ a mortgage): $1,721 (Colorado: $1,808)
> Median monthly housing costs (no mortgage): $470 (Colorado: $488)
> Median household income: $74,332 (Colorado: $75,231)
> No. of metros considered in ranking: 7
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Connecticut: Norwich-New London
> Homeownership rate: 67.1% (Connecticut: 66.1%)
> Median home value: $246,800 (Connecticut: $279,700)
> Median monthly housing costs (w/ a mortgage): $1,885 (Connecticut: $2,127)
> Median monthly housing costs (no mortgage): $774 (Connecticut: $900)
> Median household income: $75,831 (Connecticut: $79,855)
> No. of metros considered in ranking: 4
Source: sframephoto / iStock via Getty Images
Delaware: Dover
> Homeownership rate: 68.8% (Delaware: 71.4%)
> Median home value: $226,600 (Delaware: $258,300)
> Median monthly housing costs (w/ a mortgage): $1,479 (Delaware: $1,591)
> Median monthly housing costs (no mortgage): $420 (Delaware: $475)
> Median household income: $60,117 (Delaware: $69,110)
> No. of metros considered in ranking: 1
*Because Dover is the only eligible metro in Delaware, it is the metro with the highest homeownership rate by default.
Source: Michael Warren / iStock via Getty Images
Florida: The Villages
> Homeownership rate: 88.6% (Florida: 66.2%)
> Median home value: $267,100 (Florida: $232,000)
> Median monthly housing costs (w/ a mortgage): $1,328 (Florida: $1,539)
> Median monthly housing costs (no mortgage): $471 (Florida: $513)
> Median household income: $59,618 (Florida: $57,703)
> No. of metros considered in ranking: 22
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Source: BeachcottagePhotography / iStock via Getty Images
Georgia: Brunswick
> Homeownership rate: 69.3% (Georgia: 64.0%)
> Median home value: $167,100 (Georgia: $190,200)
> Median monthly housing costs (w/ a mortgage): $1,329 (Georgia: $1,449)
> Median monthly housing costs (no mortgage): $383 (Georgia: $435)
> Median household income: $53,541 (Georgia: $61,224)
> No. of metros considered in ranking: 14
Source: unclegene / iStock via Getty Images
Hawaii: Kahului-Wailuku-Lahaina
> Homeownership rate: 62.5% (Hawaii: 60.3%)
> Median home value: $657,400 (Hawaii: $636,400)
> Median monthly housing costs (w/ a mortgage): $2,440 (Hawaii: $2,443)
> Median monthly housing costs (no mortgage): $466 (Hawaii: $540)
> Median household income: $84,363 (Hawaii: $83,173)
> No. of metros considered in ranking: 2
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Source: Jennifer_Sharp / iStock via Getty Images
Idaho: Lewiston
> Homeownership rate: 72.7% (Idaho: 70.8%)
> Median home value: $207,200 (Idaho: $235,600)
> Median monthly housing costs (w/ a mortgage): $1,326 (Idaho: $1,312)
> Median monthly housing costs (no mortgage): $411 (Idaho: $388)
> Median household income: $55,657 (Idaho: $58,915)
> No. of metros considered in ranking: 6
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Source: ghornephoto / iStock via Getty Images
Illinois: Peoria
> Homeownership rate: 72.1% (Illinois: 66.3%)
> Median home value: $133,600 (Illinois: $202,100)
> Median monthly housing costs (w/ a mortgage): $1,248 (Illinois: $1,709)
> Median monthly housing costs (no mortgage): $527 (Illinois: $650)
> Median household income: $60,094 (Illinois: $68,428)
> No. of metros considered in ranking: 10
Indiana: Michigan City-La Porte
> Homeownership rate: 73.3% (Indiana: 69.5%)
> Median home value: $139,900 (Indiana: $148,900)
> Median monthly housing costs (w/ a mortgage): $1,060 (Indiana: $1,155)
> Median monthly housing costs (no mortgage): $412 (Indiana: $416)
> Median household income: $57,010 (Indiana: $58,235)
> No. of metros considered in ranking: 12
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Source: ChrisBoswell / iStock via Getty Images
Iowa: Cedar Rapids
> Homeownership rate: 75.3% (Iowa: 71.2%)
> Median home value: $159,800 (Iowa: $153,900)
> Median monthly housing costs (w/ a mortgage): $1,350 (Iowa: $1,279)
> Median monthly housing costs (no mortgage): $535 (Iowa: $495)
> Median household income: $66,620 (Iowa: $61,836)
> No. of metros considered in ranking: 8
Source: LawrenceSawyer / E+ via Getty Images
Kansas: Topeka
> Homeownership rate: 69.4% (Kansas: 66.2%)
> Median home value: $137,900 (Kansas: $157,600)
> Median monthly housing costs (w/ a mortgage): $1,246 (Kansas: $1,400)
> Median monthly housing costs (no mortgage): $521 (Kansas: $517)
> Median household income: $59,815 (Kansas: $61,091)
> No. of metros considered in ranking: 4
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Source: DenisTangneyJr / iStock via Getty Images
Kentucky: Owensboro
> Homeownership rate: 68.5% (Kentucky: 67.6%)
> Median home value: $139,300 (Kentucky: $147,100)
> Median monthly housing costs (w/ a mortgage): $1,145 (Kentucky: $1,191)
> Median monthly housing costs (no mortgage): $401 (Kentucky: $379)
> Median household income: $54,946 (Kentucky: $52,238)
> No. of metros considered in ranking: 5
Louisiana: Houma-Thibodaux
> Homeownership rate: 73.9% (Louisiana: 66.6%)
> Median home value: $157,000 (Louisiana: $168,100)
> Median monthly housing costs (w/ a mortgage): $1,309 (Louisiana: $1,310)
> Median monthly housing costs (no mortgage): $298 (Louisiana: $344)
> Median household income: $53,267 (Louisiana: $50,800)
> No. of metros considered in ranking: 9
Source: Daniel Hanscom / iStock via Getty Images
Maine: Portland-South Portland
> Homeownership rate: 72.1% (Maine: 72.9%)
> Median home value: $273,100 (Maine: $198,000)
> Median monthly housing costs (w/ a mortgage): $1,694 (Maine: $1,404)
> Median monthly housing costs (no mortgage): $606 (Maine: $500)
> Median household income: $72,552 (Maine: $59,489)
> No. of metros considered in ranking: 3
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Source: Alexey_Fedoren / iStock via Getty Images
Maryland: Salisbury
> Homeownership rate: 74.3% (Maryland: 67.1%)
> Median home value: $243,900 (Maryland: $325,400)
> Median monthly housing costs (w/ a mortgage): $1,471 (Maryland: $2,038)
> Median monthly housing costs (no mortgage): $490 (Maryland: $633)
> Median household income: $62,799 (Maryland: $87,063)
> No. of metros considered in ranking: 5
Source: DenisTangneyJr / iStock via Getty Images
Massachusetts: Barnstable Town
> Homeownership rate: 79.6% (Massachusetts: 62.5%)
> Median home value: $414,000 (Massachusetts: $398,800)
> Median monthly housing costs (w/ a mortgage): $2,015 (Massachusetts: $2,268)
> Median monthly housing costs (no mortgage): $739 (Massachusetts: $829)
> Median household income: $76,863 (Massachusetts: $84,385)
> No. of metros considered in ranking: 5
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Source: csfotoimages / iStock via Getty Images
Michigan: Monroe
> Homeownership rate: 80.6% (Michigan: 71.7%)
> Median home value: $167,400 (Michigan: $162,600)
> Median monthly housing costs (w/ a mortgage): $1,352 (Michigan: $1,312)
> Median monthly housing costs (no mortgage): $489 (Michigan: $495)
> Median household income: $65,453 (Michigan: $59,234)
> No. of metros considered in ranking: 14
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Minnesota: Rochester
> Homeownership rate: 75.0% (Minnesota: 71.9%)
> Median home value: $218,500 (Minnesota: $235,700)
> Median monthly housing costs (w/ a mortgage): $1,513 (Minnesota: $1,606)
> Median monthly housing costs (no mortgage): $542 (Minnesota: $548)
> Median household income: $76,787 (Minnesota: $73,382)
> No. of metros considered in ranking: 5
Source: SeanPavonePhoto / iStock via Getty Images
Mississippi: Jackson
> Homeownership rate: 67.6% (Mississippi: 68.8%)
> Median home value: $148,300 (Mississippi: $125,500)
> Median monthly housing costs (w/ a mortgage): $1,233 (Mississippi: $1,161)
> Median monthly housing costs (no mortgage): $380 (Mississippi: $358)
> Median household income: $53,639 (Mississippi: $46,511)
> No. of metros considered in ranking: 3
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Source: DenisTangneyJr / iStock via Getty Images
Missouri: Jefferson City
> Homeownership rate: 71.7% (Missouri: 67.1%)
> Median home value: $162,100 (Missouri: $163,600)
> Median monthly housing costs (w/ a mortgage): $1,183 (Missouri: $1,287)
> Median monthly housing costs (no mortgage): $411 (Missouri: $449)
> Median household income: $60,586 (Missouri: $57,290)
> No. of metros considered in ranking: 8
Source: peeterv / iStock via Getty Images
Montana: Billings
> Homeownership rate: 69.8% (Montana: 68.5%)
> Median home value: $240,700 (Montana: $244,900)
> Median monthly housing costs (w/ a mortgage): $1,496 (Montana: $1,456)
> Median monthly housing costs (no mortgage): $489 (Montana: $451)
> Median household income: $62,722 (Montana: $56,539)
> No. of metros considered in ranking: 3
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Nebraska: Omaha-Council Bluffs
> Homeownership rate: 65.8% (Nebraska: 66.2%)
> Median home value: $181,200 (Nebraska: $164,000)
> Median monthly housing costs (w/ a mortgage): $1,519 (Nebraska: $1,412)
> Median monthly housing costs (no mortgage): $611 (Nebraska: $539)
> Median household income: $69,439 (Nebraska: $63,015)
> No. of metros considered in ranking: 3
Source: photoquest7 / iStock via Getty Images
Nevada: Reno
> Homeownership rate: 58.2% (Nevada: 57.1%)
> Median home value: $359,500 (Nevada: $290,200)
> Median monthly housing costs (w/ a mortgage): $1,714 (Nevada: $1,574)
> Median monthly housing costs (no mortgage): $459 (Nevada: $433)
> Median household income: $68,214 (Nevada: $62,043)
> No. of metros considered in ranking: 3
Source: Sean Pavone / iStock via Getty Images
New Hampshire: Manchester-Nashua
> Homeownership rate: 65.7% (New Hampshire: 71.2%)
> Median home value: $287,900 (New Hampshire: $272,300)
> Median monthly housing costs (w/ a mortgage): $2,073 (New Hampshire: $1,967)
> Median monthly housing costs (no mortgage): $872 (New Hampshire: $812)
> Median household income: $82,099 (New Hampshire: $77,923)
> No. of metros considered in ranking: 1
*Because Manchester-Nashua is the only eligible metro in New Hampshire, it is the metro with the highest homeownership rate by default.
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New Jersey: Ocean City
> Homeownership rate: 78.0% (New Jersey: 64.0%)
> Median home value: $306,200 (New Jersey: $343,500)
> Median monthly housing costs (w/ a mortgage): $1,846 (New Jersey: $2,476)
> Median monthly housing costs (no mortgage): $802 (New Jersey: $1,062)
> Median household income: $72,385 (New Jersey: $85,245)
> No. of metros considered in ranking: 4
Source: DenisTangneyJr / iStock via Getty Images
New Mexico: Santa Fe
> Homeownership rate: 71.2% (New Mexico: 68.0%)
> Median home value: $294,800 (New Mexico: $175,700)
> Median monthly housing costs (w/ a mortgage): $1,557 (New Mexico: $1,293)
> Median monthly housing costs (no mortgage): $416 (New Mexico: $360)
> Median household income: $60,668 (New Mexico: $51,243)
> No. of metros considered in ranking: 4
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Source: Katie Dobies / iStock via Getty Images
New York: Glens Falls
> Homeownership rate: 71.6% (New York: 54.1%)
> Median home value: $177,000 (New York: $325,000)
> Median monthly housing costs (w/ a mortgage): $1,429 (New York: $2,174)
> Median monthly housing costs (no mortgage): $523 (New York: $781)
> Median household income: $62,284 (New York: $71,117)
> No. of metros considered in ranking: 13
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Source: Jeff Yount / iStock via Getty Images
North Carolina: Hickory-Lenoir-Morganton
> Homeownership rate: 73.4% (North Carolina: 65.7%)
> Median home value: $139,100 (North Carolina: $182,100)
> Median monthly housing costs (w/ a mortgage): $1,048 (North Carolina: $1,328)
> Median monthly housing costs (no mortgage): $330 (North Carolina: $402)
> Median household income: $49,706 (North Carolina: $56,642)
> No. of metros considered in ranking: 15
Source: Allen Allnoch / iStock via Getty Images
North Dakota: Bismarck
> Homeownership rate: 70.4% (North Dakota: 62.5%)
> Median home value: $254,900 (North Dakota: $199,900)
> Median monthly housing costs (w/ a mortgage): $1,611 (North Dakota: $1,457)
> Median monthly housing costs (no mortgage): $520 (North Dakota: $476)
> Median household income: $72,886 (North Dakota: $65,315)
> No. of metros considered in ranking: 3
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Ohio: Youngstown-Warren-Boardman
> Homeownership rate: 70.3% (Ohio: 66.3%)
> Median home value: $110,300 (Ohio: $151,400)
> Median monthly housing costs (w/ a mortgage): $1,055 (Ohio: $1,286)
> Median monthly housing costs (no mortgage): $415 (Ohio: $480)
> Median household income: $48,020 (Ohio: $58,116)
> No. of metros considered in ranking: 11
Source: BOB WESTON / iStock via Getty Images
Oklahoma: Enid
> Homeownership rate: 65.4% (Oklahoma: 66.1%)
> Median home value: $119,000 (Oklahoma: $142,400)
> Median monthly housing costs (w/ a mortgage): $1,138 (Oklahoma: $1,246)
> Median monthly housing costs (no mortgage): $400 (Oklahoma: $406)
> Median household income: $55,435 (Oklahoma: $53,840)
> No. of metros considered in ranking: 4
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Oregon: Grants Pass
> Homeownership rate: 68.8% (Oregon: 62.8%)
> Median home value: $281,500 (Oregon: $336,700)
> Median monthly housing costs (w/ a mortgage): $1,467 (Oregon: $1,741)
> Median monthly housing costs (no mortgage): $392 (Oregon: $553)
> Median household income: $47,733 (Oregon: $65,667)
> No. of metros considered in ranking: 8
Source: Pgiam / iStock Unreleased via Getty Images
Pennsylvania: Gettysburg
> Homeownership rate: 77.8% (Pennsylvania: 69.0%)
> Median home value: $212,300 (Pennsylvania: $187,500)
> Median monthly housing costs (w/ a mortgage): $1,560 (Pennsylvania: $1,505)
> Median monthly housing costs (no mortgage): $569 (Pennsylvania: $542)
> Median household income: $68,411 (Pennsylvania: $63,627)
> No. of metros considered in ranking: 18
Source: SeanPavonePhoto / iStock via Getty Images
Rhode Island: Providence-Warwick
> Homeownership rate: 62.0% (Rhode Island: 61.6%)
> Median home value: $290,500 (Rhode Island: $276,600)
> Median monthly housing costs (w/ a mortgage): $1,915 (Rhode Island: $1,879)
> Median monthly housing costs (no mortgage): $731 (Rhode Island: $745)
> Median household income: $70,676 (Rhode Island: $70,305)
> No. of metros considered in ranking: 1
*Because Providence-Warwick is the only eligible metro in Rhode Island, it is the metro with the highest homeownership rate by default.
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Source: Sean Pavone / iStock via Getty Images
South Carolina: Myrtle Beach-Conway-North Myrtle Beach
> Homeownership rate: 76.0% (South Carolina: 70.1%)
> Median home value: $195,700 (South Carolina: $170,100)
> Median monthly housing costs (w/ a mortgage): $1,296 (South Carolina: $1,265)
> Median monthly housing costs (no mortgage): $419 (South Carolina: $377)
> Median household income: $53,832 (South Carolina: $54,864)
> No. of metros considered in ranking: 8
Source: James_Gabbert / iStock via Getty Images
South Dakota: Rapid City
> Homeownership rate: 70.0% (South Dakota: 68.0%)
> Median home value: $199,100 (South Dakota: $174,600)
> Median monthly housing costs (w/ a mortgage): $1,454 (South Dakota: $1,367)
> Median monthly housing costs (no mortgage): $550 (South Dakota: $495)
> Median household income: $59,076 (South Dakota: $59,896)
> No. of metros considered in ranking: 2
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Source: J. Michael Jones / iStock Editorial via Getty Images
Tennessee: Kingsport-Bristol
> Homeownership rate: 73.5% (Tennessee: 66.5%)
> Median home value: $140,800 (Tennessee: $177,600)
> Median monthly housing costs (w/ a mortgage): $1,054 (Tennessee: $1,272)
> Median monthly housing costs (no mortgage): $332 (Tennessee: $389)
> Median household income: $46,685 (Tennessee: $54,833)
> No. of metros considered in ranking: 10
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Texas: Longview
> Homeownership rate: 68.5% (Texas: 62.3%)
> Median home value: $141,700 (Texas: $187,200)
> Median monthly housing costs (w/ a mortgage): $1,247 (Texas: $1,654)
> Median monthly housing costs (no mortgage): $428 (Texas: $526)
> Median household income: $53,524 (Texas: $63,826)
> No. of metros considered in ranking: 25
Source: DenisTangneyJr / iStock via Getty Images
Utah: Ogden-Clearfield
> Homeownership rate: 76.6% (Utah: 70.5%)
> Median home value: $284,500 (Utah: $305,400)
> Median monthly housing costs (w/ a mortgage): $1,537 (Utah: $1,597)
> Median monthly housing costs (no mortgage): $430 (Utah: $437)
> Median household income: $78,680 (Utah: $74,197)
> No. of metros considered in ranking: 5
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Source: DenisTangneyJr / E+ via Getty Images
Vermont: Burlington-South Burlington
> Homeownership rate: 66.8% (Vermont: 71.3%)
> Median home value: $285,200 (Vermont: $230,900)
> Median monthly housing costs (w/ a mortgage): $1,860 (Vermont: $1,630)
> Median monthly housing costs (no mortgage): $754 (Vermont: $686)
> Median household income: $73,447 (Vermont: $63,477)
> No. of metros considered in ranking: 1
*Because Burlington-South Burlington is the only eligible metro in Vermont, it is the metro with the highest homeownership rate by default.
Source: NicolasMcComber / Getty Images
Virginia: Winchester
> Homeownership rate: 71.4% (Virginia: 66.7%)
> Median home value: $242,500 (Virginia: $282,800)
> Median monthly housing costs (w/ a mortgage): $1,480 (Virginia: $1,822)
> Median monthly housing costs (no mortgage): $414 (Virginia: $481)
> Median household income: $69,417 (Virginia: $76,398)
> No. of metros considered in ranking: 9
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Source: LoweStock / iStock via Getty Images
Washington: Mount Vernon-Anacortes
> Homeownership rate: 70.0% (Washington: 63.3%)
> Median home value: $341,600 (Washington: $366,800)
> Median monthly housing costs (w/ a mortgage): $1,780 (Washington: $1,939)
> Median monthly housing costs (no mortgage): $588 (Washington: $605)
> Median household income: $71,021 (Washington: $77,006)
> No. of metros considered in ranking: 11
Source: hkim39 / iStock via Getty Images
West Virginia: Beckley
> Homeownership rate: 75.7% (West Virginia: 73.7%)
> Median home value: $104,100 (West Virginia: $123,200)
> Median monthly housing costs (w/ a mortgage): $985 (West Virginia: $1,058)
> Median monthly housing costs (no mortgage): $335 (West Virginia: $331)
> Median household income: $43,444 (West Virginia: $48,037)
> No. of metros considered in ranking: 7
Source: DenisTangneyJr / iStock via Getty Images
Wisconsin: Appleton
> Homeownership rate: 73.4% (Wisconsin: 67.1%)
> Median home value: $180,300 (Wisconsin: $189,200)
> Median monthly housing costs (w/ a mortgage): $1,366 (Wisconsin: $1,436)
> Median monthly housing costs (no mortgage): $554 (Wisconsin: $556)
> Median household income: $70,261 (Wisconsin: $63,293)
> No. of metros considered in ranking: 12
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Source: benkrut / iStock via Getty Images
Wyoming: Cheyenne
> Homeownership rate: 72.6% (Wyoming: 71.0%)
> Median home value: $239,900 (Wyoming: $228,000)
> Median monthly housing costs (w/ a mortgage): $1,498 (Wyoming: $1,474)
> Median monthly housing costs (no mortgage): $474 (Wyoming: $429)
> Median household income: $69,369 (Wyoming: $65,304)
> No. of metros considered in ranking: 2
Methodology
To determine the metro areas with the highest homeownership rate in every state, 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.
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.
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.
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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