Do you ever wonder what the history is that makes a homeowner stay in one home for decades? We especially see this in our Northeast Georgia Rural areas. I met an 85 year old lady who had lived in her home since she got married when she was 16. Wow! She gave me some of the history behind this and it was fascinating! It spanned generations. You don’t hear of this much in our Suburban and Urban area’s. I was browsing The MReport this morning and ran across an article that referenced a study on this subject. I thought it was interesting and would share.
Homeowners With History
Jaunt through just about any established enclave, and you’ll likely encounter at least a handful of houses inhabited by long-time homeowners. That said, there are certain areas in which more long-timers tend to congregate, and Trulia set out to locate them.
To find these decades-dwelling homeowners, the company analyzed and mapped the median move-in date for residents spanning the nation at the ZIP code level. They searched the largest 100 metros. Unsurprisingly, many places with a multitude of long-timers exhibited a higher-than-average homeownership rate. And that makes sense, as renters typically pick up and move more often.
Echoing that trend, most of the locales with homeowners who’ve stuck in the same spot are far from urban cores, Trulia says.
Some of the findings: The median move-in year in more rural zones is 2004, the oldest in the sample, the company says. By contrast, it’s 2006 in suburban areas and 2007 in urban ones.
As for the “oldest” 10 percent of ZIP codes by metro area, rural ZIPs are overrepresented by 54.7 percent, Trulia reports. Suburban and urban ZIP codes, however, are 35.4 percent and 70.3 percent underrepresented, respectively.
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