The 10 U.S. cities where people are rushing to buy homes

Ryan Brinks 29 November 2017

Top 10 cities where homeownership is growing fastest

Today’s homebuying environment is as good as it’s been in a decade or two, but everything in real estate revolves around location.

In the wrong spot, buying a home can be nearly impossible, but there are also places where the American Dream is alive and well. After some tough years that saw 1 in 20 people give up on homeownership, the trend is now starting to reverse. Sales of new homes just hit a new peak not seen in a decade, and they continue to rise.

So, here are 10 locations around the country where great opportunities to buy a home meet a housing economy that’s more affordable now than 20 years ago. These are the places where homeownership rates are rising fastest, according to a study of Census data from 2014 to 2017 in the nation’s largest metro areas.

Top 10 cities for growth in homeownership

  1. Milwaukee, WI: Surging 11% to 68.7% homeownership with a median home price of $224,950
  2. Charlotte, NC: Rising 10.5% to 62.8% homeownership with a median price of $327,050
  3. Memphis, TN: Up 9.3% to 61% homeownership with a median price of $195,050
  4. Baltimore, MD: Up 7.3% to 68.4% homeownership with a median price of $300,040
  5. Allentown, PA: Increasing 7.3% to 74.8% homeownership with a median price of $225,050
  6. Pittsburgh, PA: Rising 7.2% to 74% homeownership with a median price of $174,950
  7. Albuquerque, NM: Up 5.7% to 66% homeownership with a median price of $239,950
  8. Nashville, TN: Rising 4.9% to 68.8% homeownership with a median price of $359,050
  9. Dallas, TX: Up 4.8% to 60.7% homeownership with a median price of $339,950
  10. Syracuse, NY: Increasing 4.6% to 66.5% homeownership with a median price of $149,950

Take a closer look at the study to learn what driving forces are sending people into new homes in each location, and check out these three reasons to buy a home today. If you’re ready to move, our complete guide to comparing mortgages offers insight into what types of home loans are available, what fees are involved in buying a home and how to get the best interest rate and terms.

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