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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.
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.
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.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%.
This and affordabilityInherited the house, they're passed down through generations.
SCM,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?
View attachment 169714
And if I remember correctly, West Virginia is a high tax state.
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 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.www.fool.com
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.www.fool.com
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.