A new study released by LendingTree looks at the share of primary residences owned by natives and foreign-born in the 50 most populated metropolitan areas in the United States. The company relied on census data and crunched numbers on the relationship between homeownership by immigrants and home values. Miami came out number one in immigrant home ownership while Indianapolis was last.
Of all the metropolitan areas in the study, Miami had the highest rate of immigrant homeownership (26 percent), as well as the largest percentage of immigrants in its population (41 percent).
Miami also had a relatively modest median home value of $278,700, close to the national median of about $220,200. But that was an anomaly among cities with large immigrant populations and ownership rates.
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.
Read More
