There has been talk of homeownership rates declining as owning a home is no longer the essential part of the American Dream it once was. However, as you can see in the map below from Keeping Current Matters, homeownership is strong in much of the country. All of the 'blue' states below have homeownership rates above the current national average of 62.9%… and Minnesota is tied with New Hampshire for third place in the U.S. with a 70.9% homeownership rate.
Homeownership in the U.S. reached an all-time high in December 2004 when it hit 69.4%, but Minnesota is higher than that now, at 70.9%. When you look at it by decade, national homeownership has been in the 60 percent range since the 1960s.
Sharlene Hensrud, RE/MAX Results - Minneapolis-St. Paul Realtor
HomesMSP Team - Sharlene, John, Angela – Minneapolis-St. Paul Relocation
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