Welcome to America, buyers and renters

Economists have been beating the drum about the promising demographic trends for the housing market -- especially through continuing immigration and the popularity of homeownership among immigrants.

The latest annual housing market report (see Inman News) by Harvard University's Joint Center for Housing Studies contains a chart (Table W-2) that shows the percentage of foreign-born renters and home buyers by state, based on the center's analysis of data from the 2005 American Community Survey. The national average was a 13.8 percent share of foreign-born recent home buyers and an 18.4 percent share of foreign-born renters.

California had the largest share of foreign-born recent home buyers at 31.1 percent, followed by New Jersey and Hawaii with 24.2 percent, New York with 21.8 percent, Nevada with 20.7 percent, Florida with 20.4 percent, Texas with 18.1 percent, Illinois with 17.8 percent, Massachusetts with 16.8 percent, and Maryland with 15.8 percent.

South Dakota, meanwhile, had the lowest share of foreign-born recent buyers with 1.5 percent, followed by West Virginia at 1.9 percent, Mississippi at 2.1 percent, Montana at 2.4 percent and Kentucky with 2.9 percent.

California also topped the list for its share of foreign-born renters, with 36.6 percent, followed by New York with 32.2 percent, New Jersey with 31.4 percent, Florida with 25.1 percent, Massachusetts with 22.6 percent, Texas with  21.8 percent, Hawaii at 21.4 percent, Arizona with 20.7 percent, Rhode Island with 19.7 percent, and Nevada at 19.4 percent.

Vermont was last on the list with a 2.1 percent share of foreign-born renters, followed by West Virginia at 2.2 percent, Mississippi at 2.5 percent, North Dakota at 2.6 percent and Montana with 2.7 percent.

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