- April 28, 2024
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While many homes in Palm Coast continue to be rented, 76.6% of the market is still owner-occupied, according to data released by the U.S. Census Bureau.
That puts Palm Coast sixth among the country’s metropolitan areas. (See box below for the Top 10.)
Jimmy Millhollin, president of RE/MAX Flagstaff, said the Palm Coast ranking shouldn’t be a big surprise.
“The high rate is largely because of the number of retirees we have here,” Millhollin said.
According to Millhollin, the average rate in Palm Coast for homeowners to stay in a home is between seven and 10 years. The national average is between five and seven years. That also has to do with the number of retirees who own homes, he said.
In the four most populous cities in 2010, the majority of households were renters. Sixty-nine percent of households rented in New York City, 61.8% in Los Angeles, 55.1% in Chicago and 54.6% in Houston.
TOP 10
The 10 metropolitan areas with the top percentage of owner-occupied units:
Monroe, Mich. — 79.8%
Punta Gorda, Fla. — 79.7%
Holland-Grand Haven, Mich. — 78.2%
Bay City, Mich. — 77.8%
Barnstable Town, Mass. — 77.4%
Palm Coast, Fla. — 76.6%
Rochester, Minn. — 76.6%
Ocala, Fla. — 76.3%
Ogden-Clearfield, Utah — 75.8%
York-Hanoverm, Pa. — 75.5%
Source: U.S. Census Bureau
