(STACKER) – Purchasing a home is quite possibly one of the most important investments in a person’s life. It’s a dream for many, and in the last few years, the housing market skyrocketed as prospective homebuyers flooded the housing market. Many were motivated by historically low interest rates and had flexibility due to remote working to widen their search field. The high demand in a low-inventory home market led to increased competition, bidding, and record-breaking sales as well.

In the first quarter of 2022, the national homeownership rate was up at 65.4%. Homeowners are classified as anyone who owns a home or takes out a mortgage. Rates for homeownership depend on a variety of factors, such as location. The homeownership rate is highest in the Midwest, followed by the South, where the cost of buying a home is more affordable than in the Atlantic and Pacific Coast states. 

Real estate platform ZeroDown analyzed data from the U.S. Census Bureau’s Housing Vacancies and Homeownership Survey to find which metropolitan areas had the highest homeownership rate during the first three months of 2022 and how it’s changed from the same time one year ago. Metropolitan areas include the main city and its surrounding towns and suburbs. The Census collects data on the 75 largest metros. Ties were broken using the percentage point change in the homeownership rate from the year before.

25. Akron, Ohio

– Homeownership rate in 2022: 67.6% 

24. Buffalo, New York

– Homeownership rate in 2022: 68.2% 

23. Minneapolis, Minnesota

– Homeownership rate in 2022: 68.3%

22. Chicago, Illinois

– Homeownership rate in 2022: 68.3%

21. Cape Coral, Florida

– Homeownership rate in 2022: 68.5%

20. Riverside, California

– Homeownership rate in 2022: 68.8% 

19. Grand Rapids, Michigan

– Homeownership rate in 2022: 68.8%

18. Greensboro, North Carolina

– Homeownership rate in 2022: 69.0%

17. St. Louis, Missouri

– Homeownership rate in 2022: 69.4%

16. Baltimore, Maryland

– Homeownership rate in 2022: 69.8%

15. Providence, Rhode Island

– Homeownership rate in 2022: 70.2%

14. Tucson, Arizona

– Homeownership rate in 2022: 70.3%

13. Louisville, Kentucky

– Homeownership rate in 2022: 71.0%

12. Jacksonville, Florida

– Homeownership rate in 2022: 71.4%

11. Columbia, South Carolina

– Homeownership rate in 2022: 71.6%

10. Toledo, Ohio

– Homeownership rate in 2022: 71.7%

9. Detroit, Michigan

– Homeownership rate in 2022: 72.4%

8. Pittsburgh, Pennsylvania

– Homeownership rate in 2022: 72.4%

7. Allentown, Pennsylvania

– Homeownership rate in 2022: 73.4% 

6. Nashville, Tennessee

– Homeownership rate in 2022: 75.2% 

5. Charlotte, North Carolina

– Homeownership rate in 2022: 75.5%

4. Syracuse, New York

– Homeownership rate in 2022: 75.5% 

3. Albany, New York

– Homeownership rate in 2022: 80.7%

2. Sarasota, Florida

– Homeownership rate in 2022: 80.8% 

1. Charleston, South Carolina

– Homeownership rate in 2022: 80.9%