Single homeownership rates tend to be higher in cities with lower home values, and with greater populations of seniors, who make up a large chunk of the single homeownership market.
Chesapeake and Virginia Beach, Virginia took the top two spots, respectively, in a new ranking measuring the share of one-person households in a region compared to the overall share in the nation. In Chesapeake, 64 percent of one-person households own their home, according to SmartAsset's data. Chesapeake has a high homeownership rate overall at 71 percent. In nearby Virginia Beach, one-person households account for roughly one quarter of the housing stock in the city.
Nearly 83 percent of renters have a desire to own their home, according to a National Association of Realtors poll. However with mortgage costs on the rise, it is difficult to switch from renting to buying. And buying a home can be even more difficult if you are single. However, there are some places where singles are bucking the renting trend and buying homes. SmartAsset looked at data on the number of one-person households who own their home in an area and compared it to the overall number of one-person households.
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