Nevada the Second Fastest Growing State for Homeownership

Posted by Jackie Latragna on Tuesday, May 31st, 2022 at 8:53pm

Economic and demographic factors often play a large role in the achievement of the American Dream of owning a home. Millions have this common goal, however the economy can be a limiting or improving factor. Even with a recent pandemic, the United States homeownership rate stood at 65.5% in 2021.


ZeroDown, a real estate platform, analyzed data from the Census Bureau’s Housing Vacancies and Homeownership Survey to determine which states have had the highest growth in homeownership over the past ten years. To break any ties, data from 2021 was used. 


The homeownership rate is defined as the share of houses in the state that are owner-occupied as opposed to being rented or operated as an investment property. The numbers below are actually relatively small. The results show that overall homeownership is lower across the country now compared to a decade ago. There were 14 states total that saw an increase in the past decade. 


There is a trend when it comes to these locations. Except for Maine and Hawaii, the majority of these states are located away from the west and east coasts. This can be accredited to the overall lower cost of living in the south and midwest. 


Nevada came in at number 2 on the list, with the 2021 homeownership rate at 60.6%, up 4.3% since 2011. Nevada’s economy is just one of many reasons why the state is a wonderful place to live. Nevada residents enjoy no personal income tax, low property taxes, no corporate income tax, no tax on corporate shares issued while living in Nevada, no tax on sale or transfer of shares, and no inheritance tax. If these individual tax breaks aren’t convincing enough, there are even more tax break incentives for business owners looking to relocate!


The Silver State, especially in northern Nevada, lures people in with its mild four seasons, diverse culture, entertainment, dining, and welcoming community.


States with the fastest-growing homeownership rates over the past decade:

10. Iowa 

9. Wyoming

8. Missouri

7. South Dakota

6. Maine

5. Hawaii

4. Kentucky

3. Kansas

2. Nevada

1. Minnesota


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