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awrence and Manhattan, Kansas, have two of the five lowest homeownership rates in the US. The low rates are attributed to high student populations and rental demand in these university towns. According to a study by the National Association of Realtors, the national homeownership rate was 65.7% in the last quarter of 2023, significantly higher than Lawrence's 49.1% and Manhattan's 50.9%. The study found a correlation between education level and homeownership.

    College towns tend to have lower homeownership rates due to high demand for rental properties. Los Angeles/Long Beach/Anaheim, California, had the lowest rate nationally at 48.3%, followed by College Station/Bryan, Texas, with a rate of 50.4%. Santa Maria/Santa Barbara, California, and New York City, Newark, and Jersey City, New Jersey, rounded out the top five.

    The study concluded that people with graduate degrees have the highest homeownership rates, while those with less than a high school diploma have the lowest. Higher education can lead to higher future income but also delay homeownership due to student loan debt. In Kansas, other metropolitan areas had significantly higher homeownership rates, including St. Joseph (70.6%), Topeka (69.6%), and Wichita (65.1%).

    The study found that The Villages, Florida, had the highest homeownership rate nationally at 87.8%, followed by Punta Gorda, Florida, with a rate of 83.8%. Other areas with high homeownership rates included Monroe, Michigan, and Homosassa Springs, Florida, tied for third at 82.8%.