Indiana and Michigan are among the top 10 states for young homeowners, thanks to proactive efforts by local real estate professionals.
The U.S. Census Bureau data reveals that North Dakota leads with 4.90% of its population as young homeowners. Indiana ranks 4th with 3.87%, and Michigan is 8th with 3.61%.
Real estate agents in Indiana attribute this success to the state’s housing programs. “Indiana offers up to 6% of the purchase price for downpayment and closing costs,” explains Senior Mortgage Loan Officer Haven Russell. This incentive has significantly increased the number of young homeowners in cities like South Bend.
“South Bend is thriving with new small businesses and job opportunities. Its proximity to Chicago and Indianapolis, and beautiful areas in Michigan, make it a popular choice for young people,” says Real Estate Agent Danica Russell.
In Michigan, real estate professionals are also driving homeownership among young people. “We’re encouraging first-time buyers to build equity early, and many are realizing they can purchase a house at a young age,” Russell adds.
These initiatives highlight the impact of targeted housing programs and active real estate efforts in boosting homeownership among younger demographics in Indiana and Michigan.