LendingTree, a leading online financial information service and loan marketplace, took a look at the share of homes owned by native born and foreign born households in 50 of America’s most populated metros.
Of all the metros researched, Miami had the highest rate of immigrant homeownership (26%) and the largest percentage of immigrants in its overall population (41%). Miami also had a relatively modest median home value of $278,700, an amount very close to the national median home value of $220,200.
Miami, however, stands alone as an anomaly among cities with large immigrant populations and high immigrant homeownership rates. Most metros with high immigrant homeownership rates are among the most expensive housing markets in the country. Why? Because these metros also have vibrant economies and an abundance of job opportunities…economies and job opportunities that attract immigrants and Millennials and entrepreneurs and anyone else looking for an environment that welcomes expertise, desire, talent, discipline and innovation.
Here are the metros with the highest and lowest rates of immigrant homeownership, according to LendingTree, and the median prices that go with the homes in those metros.
26% Miami $278,700 4% Indianapolis $162,200
25% San Jose $957,700 4% Buffalo $148,900
18% Los Angeles $617,100 4% Kansas City $180,700
18% San Francisco $849,500 4% Columbus $182,300
17% Riverside $342,300 4% New Orleans $193,100
15% Las Vegas $250,000 3% St Louis $172,200
14% New York City $440,900 3% Memphis $148,800
14% Washington DC $424,600 3% Cincinnati $165,500
13% San Diego $563,800 3% Louisville $168,600
2% Pittsburg $153,300