Tag Archives: urban homebuyers

An analysis of the financial costs shows the percentage of median household income for those buying or renting in urban, suburban, and rural markets. The results may surprise you.

New survey results show urban, rural, and suburban American homebuyers have “drastically different” profiles. Aside from agreeing on the importance of homeownership, the three groups vary greatly on most homebuying-related topics. The biggest differences lie with the urban buyer, who is younger, more transient, more likely to be an immigrant, and has a bigger budget. The average urban buyer is just 38 years old—nearly a full decade younger than the average suburban and rural buyer.

Despite talk of the rural-urban divide, new data shows that Americans seem to share the same sentiments about homeownership regardless of their location. In a recent survey, residents in rural, suburban, and urban areas all shared largely similar thoughts on homeownership and its role in the American Dream. The only place the three groups diverged was in the intended length of stay; only 35 percent of urban buyers plan to stay seven years or more.