55% Indian-Americans own house in US: Homeownership report

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PTI: Washington, Jan 31 2013, 17:24 IST

shared by many residents of the United States, both native- and foreign-born, citizen and non-citizen," said Elizabeth Grieco, chief of the Foreign-Born Population Branch at the Census Bureau.

"For immigrants in particular - who maintain nearly one in seven households in the US - making the transition from renter to homeowner represents a significant investment in the United States," Grieco said.

This report found that foreign-born naturalised citizens were more likely to own their homes than foreign-born non-citizens. In naturalized citizen households, 66 per cent were owner-occupied. That compares with 34 per cent of non-citizen households.

Rates of homeownership among foreign-born households also increased with time spent in the United States. Among foreign- born households with a householder who entered the US before 1980, nearly three-fourths were owned rather than rented.

Among households headed by someone who entered the US since 2000, only one-fourth were owned.

According to the brief, just 10 metropolitan statistical areas accounted for about half the nation's foreign-born households in 2011, led by New York and Los Angeles, each of which had more than one million foreign-born households.

Rounding out the top five were Miami, Chicago and Houston. Nearly half, or about 45 per cent, of the metropolitan areas in the Northeast, particularly in New York and Pennsylvania, exceeded the national homeownership average for foreign-born households of 52 per cent.

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