Homebuyers face a surge of challenges. These cities are defying the odds.

By Joanne Drilling

s occupied by the property owner.

And while the rate held steady nationally, there are some cities where homeownership is rising even against the recent headwinds.

Looking at the change in homeownership over the past 10 years, Chandler, Arizona, (10.3-point gain) was tied with North Las Vegas for the top spot, followed closely by New Orleans (10-point gain).

Looking at the past five years only, Fresno, California recorded the most significant increase in homeownership, at 6.8 percentage points, followed by New Orleans (6.3 points) and Detroit (5.9 points).

As we've noted, home affordability has emerged as a keystone issue in metros around the nation, with the combination of low inventory and surging values pricing many out of the market.

With interest rates remaining elevated, many would-be sellers are essentially locked in to their existing homes, which is further limiting inventory. The baby boomer effect is also hitting many markets hard and keeping younger generations in rental housing.

That confluence of factors is affecting not only homebuilding activity, but also broader migration patterns and even employers.

Homeownership surging in migration hot spots

Almost 85% of Port St. Lucie, Florida, residents owned their home as of 2024.

That represents a 4.8-point gain from 2019 and represents a 6.2-point increase over 10 years. The city had the highest rate of homeownership among 100 largest cities analyzed by PropertyShark.

Homeownership also gained traction in Arizona — another state that has seen a surge in migration since the Covid-19 pandemic.

Of the 10 large cities with the highest homeownership rates, four were in the Grand Canyon State: Gilbert (70.7%), Chandler (68.3%), Scottsdale (66.2%) and Mesa (66.2%). The national average for 2024 was 65.2%.

While all four of the top Arizona communities showed growth over time, Scottsdale’s homeownership increased by 10 percentage points over the past decade.

Homeownership rates were generally much lower in coastal enclaves.

Newark, New Jersey, has the lowest rate of homeownership among the analyzed cities, at 24.6%, followed by Jersey City, New Jersey, (27.6%) and New York City (32.5%). Miami (33.4%) and Los Angeles (35.1%) were also near the bottom.

Of those five, only Miami saw an historic increase — of 3.8 percentage points over five years and 4.2 points over 10 years. Recent data also shows the region has some of the most equity-rich mortgaged properties in the country.

Private equity’s appetite for single-family homes may have also compromised ownership in some communities.

With a homeownership rate of only 37.9%, Cincinnati was a prime target for investors until the Port of Greater Cincinnati Development Authority purchased a portfolio of 194 single-family homes for $14.5 million. Out of Wall Street’s grasp, the Port is slowly selling the properties to lower-income residents.

Final Thoughts:

Despite rising home prices, tight inventory, and high interest rates, some cities are defying the odds and seeing a surge in homeownership. If you're thinking of moving, Arizona is one of the top states for homebuyers, with cities like Chandler, Gilbert, Scottsdale, and Mesa leading the way. These communities offer a mix of affordability, strong job markets, and a high quality of life—making them prime destinations for out-of-state buyers looking to plant roots. Ready to make Arizona your home? Now’s the time!