10 Cities Where Homeownership Is Most Common — Should You Buy a Home There?

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Deciding where to buy a home can be a never-ending headache. With a fluctuating housing market, homeownership can either be a good investment or a drain on your finances.

SmartAsset recently released a study on metropolitan areas with a striking percentage of homeowners. Here are 10 cities where homeownership is most common and why you might want to consider (or pass) on buying a home there. 

North Port-Bradenton-Sarasota, Florida

Despite dropping by 0.9 points compared with last year, the North Port-Bradenton-Sarasota metropolitan area of Florida took the top spot for homeownership rate during the first quarter of 2025. According to SmartAsset, 82.3% of residents in the metro are homeowners.

The typical home value in the area is $430,197, down slightly from its 2024 average of $461,635. The cost of living in Sarasota is 5.3% higher than the national average, as reported by BestPlaces. While the higher cost of living may deter some potential buyers, the drop in housing prices could make the North Port metro area a moderately good buy.

Rochester, New York

Homeownership rate is 81.9% in Rochester, up 6.4 points from the previous year. Home values have also increased from $236,481 in 2024 to $254,501 this year.

With houses priced considerably lower than the national average, Rochester could be a smart buy. The city is nestled along the shores of Lake Ontario and was rated one of the best cities to live in New York by U.S. News & World Report.

Cape Coral-Fort Myers, Florida

Homeownership rates in the Cape Coral-Fort Myers region of Florida jumped 7.6 points from the first quarter of 2024 to the first quarter of 2025. This year, 78.2% of residents own a home. The average home value dropped from $399,328 in 2024 to $370,941 in the first quarter of 2025.

While lower-cost homes may be a huge draw for potential buyers, cities like Fort Myers generally have a large number of retirees, which may not be ideal for young families. 

Albuquerque, New Mexico

The homeownership rate for the first quarter of 2025 was 76.4% in Albuquerque, growing 4.8 points since the previous year. Home values also increased over the year, jumping to $341,094 from $330,158 in 2024.

The cost of living in Albuquerque is 8% less than the national average, as noted by BestPlaces. Potential homebuyers will enjoy lower-cost groceries and utilities. 

Charleston-North Charleston-Summerville, South Carolina

The Charleston-North Charleston-Summerville metropolitan area saw the largest increase in homeownership rates among the top 10 over the past year, leaping from 59.4% to 75.4%, representing a 16-point boost. This means over three-quarters of the residents in the area own a home. Home values also increased slightly from $432,819 to $440,237.

Charleston is known for its small-town charm and slower way of life. Hopeful homebuyers should be aware that unemployment rates in the Charleston area rose from 2.7% in April 2024 to 3.1% as of April 2025, as indicated by the U.S. Bureau of Labor Statistics.

Allentown-Bethlehem-Easton, Pennsylvania-New Jersey

Homeownership rates in the Allentown-Bethlehem-Easton metro increased from 65.9% to 74.2% from the first quarter of 2024 until the first quarter of this year. The 8.3-point jump in homeownership is likely due to the fact that the typical home value of a property in the area also increased from $323,921 to $338,565.

The rise in homeownership and home value shows an investment in the area, which could make a house there a good purchase.

Columbia, South Carolina

Another South Carolina city to rank among the highest percentage of homeowners in the country is Columbia. While the homeownership rate decreased 0.1 points between 2024 and 2025, home prices remained low, a good incentive for new buyers.

Almost three-quarters of residents in Columbia own homes, indicating it could be a strong investment.

Syracuse, New York

While most people think of New York as an unaffordable state, certain cities have home values well below the national average. In Syracuse, homeownership rates in the first quarter of 2025 were 73.4%, representing a 9.2-point increase from the previous year. Home values also increased from $215,502 in 2024 to $234,605 this year.

According to U.S. News & World Report, Syracuse’s affordability makes it popular for people of all ages, from young families to retirees. 

Grand Rapids-Wyoming, Michigan

Over 73% of residents in Grand Rapids-Wyoming are homeowners, indicating a 3.4-point increase from the first quarter of 2024. Home values in the area rose slightly from $278,080 last year to $290,575 in 2025.

The uptick in homeownership is likely attributable to low home prices and an overall low cost of living. As reported by BestPlaces, a family of four would need approximately $3,960 a month to live in Grand Rapids, making it highly affordable. 

Cincinnati, Ohio-Kentucky-Indiana

Homeownership rates in the first quarter of 2025 were 73.1% in the Cincinnati metropolitan area, a one-point decrease from the year prior. Home values, on the other hand, increased from $319,745 to $334,091 during the same period.

The cost of living in Cincinnati is 11.7% lower than the average in the U.S., per BestPlaces, making it affordable for retirees and young families alike. With home values on the rise, purchasing a property in Cincinnati could be a solid investment. 

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