Wed. Dec 11th, 2024

5 states with the highest millennial homeownership rate

Iowa
Minnesota
Maine
West Virginia
Michigan

Iowa has the most millennial homeowners with a rate of 63%, according to the U.S. Census Bureau.

The state also ranked No. 1 for affordability and No. 5 best for personal finance.

Zillow states that the average Iowa home value is $212,062, up 3.0% over the past year. While according to Bank Rate, the median house price in Iowa is $239,000.

On top of being one of the states with the highest millennial homeownership, it is also one of the least stressed states in America, according to WalletHub.

Iowa has the highest millennial homeownership rate, according to Scholaroo.

John Elk | The Image Bank | Getty Images

5 states with the lowest homeownership rate

Hawaii
California
New York
Nevada
Rhode Island

Hawaii has the lowest homeownership amongst millennials, with a rate of 33%,

In the same Scholaroo report, Hawaii ranked No. 1 for health and No. 5 for political and social environment.

In CNBC’s 2022 America’s Top States for Business study, Hawaii claimed the top spot, as the most expensive state to live in based on an index of prices for a range of goods and services.

Hawaii has the lowest millennial homeownership rate in the U.S.

Colton Stiffler | Moment | Getty Images

In an August doxo report, Hawaii was the most expensive U.S. state based on monthly costs. Residents spend $3,070 monthly, which is 50% above the national average of $2,046.

The average monthly bill for a mortgage in Hawaii is $2,247, while the average rent is $1,856.

DON’T MISS: Want to be smarter and more successful with your money, work & life? Sign up for our new newsletter!

As technology reshapes business expectations, some leaders are embracing change and transforming their organizations for the future. Join the CNBC Evolve Global Summit on November 2 to hear strategies to adapt, innovate and succeed in this new era of business. Buy your ticket here.

Checkout latest world news below links :
World News || Latest News || U.S. News

Source link

The post These states have the highest—and lowest—millennial homeownership rates in America appeared first on WorldNewsEra.

By

Leave a Reply

Your email address will not be published.