Grand Rapids Ranked Among Top Cities for Young Homeowners
According to a new study from Smart Asset, only about 36% of Americans younger than 35 own their homes. The financial tech company released a list of the top cities in which it s easier for this age group to purchase homes, and Grand Rapids ranks near the top.
To determine their ranking, Smart Asset compared the homeownership rate for people aged 18-35 in 2009 with the homeownership rate in 2019 for 200 of the largest U.S. cities. Analyzing data from data from the U.S. Census Bureau, they took into account the 2019 homeownership rate for those under 35 and the 10-year change in the homeownership for those under 35. Using those metrics, Smart Asset found each city’s average ranking and used the average to determine a final score. The city with the highest average ranking received a score of 100. The city with the lowest average ranking received a score of 0.