This North Texas city is a hotspot for young homeowners
Home ownership among young people is falling nationwide, but one North Texas city is bucking that trend.
Mesquite ranked fourth in the country for homeownership among people 35 and younger, according to a study by SmartAsset, a financial planning website. Garland ranked No. 17, and Fort Worth grabbed the No. 36 spot.
Only 36.4% of Americans younger than 35 own their own homes, compared to 65.1% of all age groups, according to data from the U.S. Census Bureau. Overall, the percentage of young people who own homes has decreased 3.71% since 2009.
In Mesquite, however, homeownership among young people has increased nearly 10% since 2009, to 45.5%.
“This is a great affirmation the Mesquite community is becoming more and more appealing to a younger demographic,” Mesquite Mayor Bruce Archer said in a news release. “As Mesquite continues to grow and diversify, these young families and professionals will play a vital role in the future of our community.”
To compile the list, SmartAsset compared homeownership for the 35-and-under demographic in 2009 and 2019 for 200 of the largest U.S. cities.