News Center Maine - A new study says Minnesota is the most desirable state to buy a home in the country, and it shows with the number of younger homeowners. According to the study by Evernest,
Minnesota is the only state in the U.S. where the homeownership rate of
people under 35 is more than 50%. The same study says the average
income for young adults in the North Star state is $94.8k, and 67.1% of
owner-occupied homes have a mortgage...
“The emergence of non-coastal states like Minnesota as homeownership hubs for millennials and Gen Z signals a significant demographic shift," said VP of Marketing at Evernest, Spencer Sutton, in a press release. "With over half of Minnesotans under 35 achieving homeownership—nearly double the rate in high-cost coastal markets—we're witnessing young Americans prioritize financial stability and space over traditional urban amenities. This trend correlates strongly with remote work adoption, which has freed younger buyers to seek both affordability and quality of life factors like education and healthcare access.”
Overall, the homeownership rate in Minnesota is 74.60%, and the average house sale price is $323,436.89, the study says.
1 comment:
If the average price of a house in RI was $323K half of young folks here would own homes too.
Post a Comment