Coming up with money for down payments and closing fees is not easy. You need to do a lot of saving and planning. However, according to the U.S. Census Bureau, in certain cities, people have found it more profitable to buy a home rather than rent it.
As detailed in the U.S. Census Bureau’s reports, 3 out of 10 homes are one-person households, resulting in around 36.2 million homes in 2020 owned by people living alone. Where exactly are people buying more?
Well, to identify the cities with the single homeownership rates on the rise, we analyzed and compared data from 2015 and 2019 on the 100 largest cities in the United States. You can find out more about the numbers and ranking method in our final section, Data and Methodology.
In the meantime, read on to discover the top 10 cities where single homeownership rates have increased in recent years.