GON
$100 Site Donor 2024
West Virginia has the highest percentage of homeowners on the USA. Would love to dissect that stat and see why that is...
Source for the stat is bankrate.
Source for the stat is bankrate.
State with the high percentage of home ownership.... West Virginia.......
- Thread starter GON
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You post made me curious, so I looked at some of their data myself. Looking at the states with the highest rates of home ownership vs those states with the lowest rates, and looking at the map of all states, by home ownership. There doesn't appear to be any obvious reason. Except for the West coast (California, Oregon, Wyoming, Alaska, Hawaii), there doesn't appear to be a region that is all high or low.
For example, SC is at almost 75%, but is surrounded by Georgia at 65%, NC at 66%, and Tennessee at 67%. WV at almost 79%, but right next door is VA at 67% and Ohio at 66%.
For example, SC is at almost 75%, but is surrounded by Georgia at 65%, NC at 66%, and Tennessee at 67%. WV at almost 79%, but right next door is VA at 67% and Ohio at 66%.
GON
$100 Site Donor 2024
It is a interesting statistic. Home ownership is often tied to stability and safety of a area. That is why for many years home ownership was promoted by government. Not sure if government promotes home ownership for that reason anymore.
And if I remember correctly, West Virginia is a high tax state. As is New York and California which have very low home ownership rates on the chart.
Fascinating...
This and affordability
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Here is a color coded map of home ownership rate of change since 2005 -which is again instersting - but seemingly random.
Affordability maybe? Or cost to own vs rent?
Affordability maybe? Or cost to own vs rent?
GON
$100 Site Donor 2024
SCM,
Interesting chart. The state that sticks out to me is Ohio. Other than Mississippi, I can make wild guesses why the drop in ownership. But Ohio is in some ways a stable state, not a transient nor a high population growth state. I would not guess that it would be at the top end of the decreasing home ownership.
Fascinating.
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I have been interested in demographics since I saw a presentation in 2001 by an economist at a conference. He said everything is driven by demographics. Unfortunately until recently, it was difficult to grab any of this data at scale, but now its easy. This site is really good. It says while Ohio is growing, its not growing as fast as the US population growth. It also looks like rural counties are shrinking, and cities are growing. Perhaps there is nowhere in Dayton to buy?
usafacts.org
Ohio population by year, county, race, & more
The ages, races, and population density of Ohio tell a story. Understand the shifts in demographic trends with these charts visualizing decades of population data.
usafacts.org
GON
$100 Site Donor 2024
When we started searching for a state to retire in, West Virginia came up on the high side.. I am going to see if I can find a chart of high taxes per state for retired folks.
Not that I've ever been able to figure out why Virginia is a high tax state, it's not obvious where the money is spent.
Nick1994
$100 site donor 2024
I mean it's pretty obvious.
www.fool.com
Average house price by state
The average house price in the United States as of the fourth quarter of 2023 is $417,700. See how states compare here.
www.fool.com
What is the denominator in that percentage calculation?
No state income tax in TX, but they make it up on property taxes!
GON
$100 Site Donor 2024
Not so sure how holistically that aligns. The Ford f 150 is often the best selling vehicle on the USA, but the f150 is.far from the lowest price vehicle in the USA.I mean it's pretty obvious.
Average house price by state
The average house price in the United States as of the fourth quarter of 2023 is $417,700. See how states compare here.
There are plenty of near derelict houses in those parts of Ohio cities where nobody wants to live. There is also reasonable availability and pricing out in the countryside with the downside of a long commute, much of which will be on rural two-lane, to any decent paying job. Getting off the interstates and driving the state routes through Ohio is like entering a fifty or sixty year time warp, with nicely kept mostly little old homes and many small towns now totally bypassed by the interstates.
There is a scarcity of available housing stock in the more desirable, or at least less undesirable areas.
The cities are slowly redeveloping parts of their urban cores, so there may be an increase in available housing in newly desirable areas over the next decade or so.
There is a scarcity of available housing stock in the more desirable, or at least less undesirable areas.
The cities are slowly redeveloping parts of their urban cores, so there may be an increase in available housing in newly desirable areas over the next decade or so.
I mean it's pretty obvious.
Average house price by state
The average house price in the United States as of the fourth quarter of 2023 is $417,700. See how states compare here.
When the best job available is at the local Dollar General even $146k is out of reach.
Many of my co-workers live in WV and either work from home or at a facility in WV.. I have no idea what they make, but I'd expect it's a lot more than Dollar General wages.
Unfortunately there aren't a ton of places like that in the state, there are a lot of small extremely poor towns with very little employment opportunities.
Same for Virginia, especially the further south and west you go.
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