Skip to main content

The City with the Most Foreign-Born Homebuyers Is …

Phil Hall
Oct 11, 2018
Foreign-born homebuyers seem to prefer coastal housing markets with higher than average home prices, according to a new data analysis from LendingTree

Foreign-born homebuyers seem to prefer coastal housing markets with higher than average home prices, according to a new data analysis from LendingTree.
 
Using statistics from the U.S. Census Bureau of the nation’s 50 largest cities, LendingTree determined that Miami has the highest percentage of foreign-born homebuyers, with 26 percent of property owners coming from other countries. Forty-one percent of Miami’s population is foreign-born. San Jose came in a close second, with a 25 percent share of foreign-born homeowners and a total foreign-born population of 39 percent. Five of the top 10 markets for foreign-born homeowners are in California, including Los Angeles (ranked third at 18 percent) and San Francisco (ranked fourth at 17.9 percent). Median home prices for the top 10 cities averaged $491,750.
 
“Out of the 50 largest cities in the country, those with a higher share of homes owned by foreign-born residents tend to have higher home prices,” said Tendayi Kapfidze, LendingTree’s Chief Economist. “This is not to say that immigrants raise home prices—rather, it’s likely that immigrants gravitate towards these cities which have higher home prices, as they also have more dynamic economies and thus more employment opportunities.”
 
At the far end of the spectrum, Pittsburgh trailed with only a two percent foreign-born homeownership rate and a four percent foreign-born population. The median home value in the Pittsburgh market is $153,300.

 
Published
Oct 11, 2018
Planet Home Lending Reports Total Origination Volume Of $6.8B In Q2 2021

Planet Home Lending's total origination volume reached $6.8 billion in Q2 2021, up 77% from $3.9 billion in Q2 2020.

Industry News
Jul 22, 2021
FHFA Ends Controversial Refinance Fee

The FHFA announced that Fannie Mae and Freddie Mac will eliminate the Adverse Market Refinance Fee for loan deliveries, starting August 1, 2021.

Analysis and Data
Jul 19, 2021
Interfirst Mortgage Launches ONE, Backed By Non-Owner Occupied Properties

ONE is a unique product built on a single interest rate with no adjustments and qualifies off the cash flow of the rental property.

Industry News
Jul 16, 2021
Global Digital Lending Market Projected To Reach $27B By 2028

The Global Digital Lending Platform Market was valued at $7.14 billion in 2020 and is projected to reach $27.07 billion by 2028.

Analysis and Data
Jul 14, 2021
FOMC Discusses Raising Interest Rates

Inflationary pressures have finally forced the Federal Open Market Committee (FOMC) to discuss raising interest rates and tapering its bond-buying program.

Analysis and Data
Jul 14, 2021
Fathom Holdings Inc. Creates New Hispanic Division

Fathom Holdings Inc., a technology-driven real estate platform, announced the creation of their Hispanic Division to more adequately serve this fast-growing demographic. 

Industry News
Jul 07, 2021