A new study looks at homeownership among native-born and foreign-born residents in U.S. cities.
The company LendingTree recently examined census data to better understand homeownership among immigrants in the 50 largest cities in the United States. In a ranking of the cities, Miami was at the top of the list, where 26 percent of homeowners are immigrants and 34 percent are native-born residents. At the other end of the list was Pittsburgh, where immigrants make up only 2 percent of homeowners, compared to 68 percent native-born homeowners.
“For the most part, the highest immigrant homeownership rates were in some of the most expensive markets — which is not surprising, since those areas also tend to have vibrant economies and job opportunities that attract immigrants,” reports Michael Kolomatsky.
Still, Miami stands out from other top-ranking cities because its median home price of $278,700 is significantly lower than the high-cost cities right behind it — San Jose, California; Los Angeles; and San Francisco. Of all the cities included in the study, it is also the one with the highest percentage of immigrants, 41 percent.
FULL STORY: Immigrants and Homeownership
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