(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.

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

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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:

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Credit: AdvisorSmith

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

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