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GOBankingRates
5 States With Low Salaries but High Homeownership Rates
By Gabrielle Olya,
4 hours ago
You might think that states with the highest average salaries would also have high rates of homeownership , but this is not necessarily the case. A recent CNN analysis that compared average personal income data from the Federal Reserve and homeownership rates from U.S. Census data for every state found that some of the states with the poorest Americans have a high percentage of homeowners.
As the analysis stated, “demographics, competition for homes and strict zoning regulations all play a role in the cost of real estate.” So even in places where salaries are relatively low, homes may be more affordable for the average earner.
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