(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.READ MORE: Whitmer Tours Eastern Michigan University Vaccination Clinic
Results show that Detroit has the No. 9 highest homeownership rates.READ MORE: Stimulus Check Update: Is A Fourth Relief Payment Coming?
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:MORE NEWS: Michigan Reports 9,674 New COVID-19 Cases, 12 Deaths For Sunday And Monday
To view the full study, visit: https://advisorsmith.com/data/states-and-cities-with-the-highest-homeownership-rates/