New York Times: Pennsylvanians Stay in Their Homes Longer Than Most States
A new study has found that Pennsylvania is among the top three states in the nation with the largest share of long-tenured homeowners, writes Michael Kolomatsky for The New York Times.
Researchers at This Old House analyzed data provided by the American Community Survey and the U.S. Census Bureau to determine where in the United States residents plan to stay in their homes the longest.
Pennsylvania ranked in third place, behind only Hawaii and New York, with 35 percent of the population who have been living in their homes for 24 years or more.
Meanwhile, Johnstown is the metro area with the longest housing tenure. Around half of homeowners have owned their home for at least 24 years.
Costs are likely to play a role in whether people are staying put. Those who have been living in a high-value home for a long time are likelier to have lower housing costs because they purchased their home at a lower price.
But the most significant factor in determining housing tenure could be age. Older people are more likely to stay in homes that they have been living in for a long time.
Read more about the states with the most long-tenured homeowners in The New York Times.
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