Which US Metro Areas Are Homeowners Staying in the Longest?

Both Las Vegas and New York City attract new residents with their endless possibilities and bright lights, but one of them seems to lose its shine a little quicker. New York City topped the list for areas that have their homeowners for the long run while residents in Las Vegas are packing up earlier than any other of the 50 largest metro areas in the U.S., according to a new report by LendingTree. See where your city ranks on the list and also learn the average three-year, home-value appreciation rate for each location.

Late last year, it was reported that more and more Baby Boomers are aging in place and not moving out of their homes. In fact, fewer U.S. homeowners moved in 2019 than ever before.

A new report from LendingTree shows where homeowners are staying put the longest across the country’s 50 largest metro areas. The report found that homeowners in the Northeast stay in their homes the longest, while homeowners in warmer states move more frequently.

Additionally, the study unveiled a correlation between home prices and the length of time people stay in their homes. Basically, prices appear to rise more quickly where people stay in their homes for shorter time periods.

Home values in the 10 metros with the longest housing tenure appreciated an average of 8.7% from 2015 to 2018, LendingTree said. Over that same period, home values appreciated an average of 24.3% in the 10 metros with the shortest housing tenure.

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