These states have the highest—and lowest—millennial homeownership rates in America
Scholaroo ranked states with the highest and lowest millennial homeownership rates based on data from the U.S. Census Bureau.
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5 states with the highest millennial homeownership rate
Iowa has the most millennial homeowners with a rate of 63%, according to the U.S. Census Bureau.
The state also ranked No. 1 for affordability and No. 5 best for personal finance.
Zillow states that the average Iowa home value is $212,062, up 3.0% over the past year. While according to Bank Rate, the median house price in Iowa is $239,000.
On top of being one of the states with the highest millennial homeownership, it is also one of the least stressed states in America, according to WalletHub.
Iowa has the highest millennial homeownership rate, according to Scholaroo.
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Iowa is also one of the most affordable states for retirees. The Midwest state topped the rankings due to its low crime, good healthcare options, and affordability, according to Bankrate.
5 states with the lowest homeownership rate
Hawaii has the lowest homeownership amongst millennials, with a rate of 33%,
In the same Scholaroo report, Hawaii ranked No. 1 for health and No. 5 for political and social environment.
In CNBC's 2022 America's Top States for Business study, Hawaii claimed the top spot, as the most expensive state to live in based on an index of prices for a range of goods and services.
Hawaii has the lowest millennial homeownership rate in the U.S.
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In an August doxo report, Hawaii was the most expensive U.S. state based on monthly costs. Residents spend $3,070 monthly, which is 50% above the national average of $2,046.
The average monthly bill for a mortgage in Hawaii is $2,247, while the average rent is $1,856.
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