Friday, May 14, 2010

Foreign Born Homeownership Rates in Minnesota

MN Compass has recently released a ton of great demographic information about foreign-born populations in Minnesota. The data includes information on age, length of time in the US, income and, especially important to the work we do here at the MN Home Ownership Center, information on rental and homeownership rates.

Below you can see data that we’ve consolidated from MN Compass on the homeownership rates among Minnesota’s immigrant groups. We’ve sorted the list by size (population number).

Click image to enlarge

Interestingly… every one of the groups saw gains in their homeownership rate from 2000 through 2008. Some of these gains are significant. Although the Liberian population is relatively small in Minnesota, they saw a 50% increase in their homeownership rate. The Mexican population, Minnesota’s largest foreign-born group, saw an increase of close to 30%.

It will certainly be interesting to see how/if the homeownership rates change after this year’s census.

The Minnesota Homeownership Center’s goal is SUCCESSFUL homeownership. If you’re thinking of buying your first home… especially if you are new to the process in the U.S. or might prefer assistance in your native language, the Center is here to help. Workshops for first-time buyers are available in more than 5 different languages throughout the state and counselors can work with interpreters in ANY language. If you’d like to learn more, visit our website here.

1 comment:

  1. Renting over buying has been one of the debates even for those minnesota real estate ce professional as to what is mostly or the best option - to own a house or to rent a property instead. With a lot of people having different preferences on either owning or renting out, what matters is the everyone's interest is protected and given their chances to live a safe and sound life having a shelter to stay with.


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