With U.S. homeownership now at its lowest rate, as rising interest rates and a tight housing supply put pressure on buyers, some cities still offer renters a real shot at buying. Rocket Moving ranks the ten cities where conditions are most favorable for renters to transition into homeownership. The study used a composite scoring system based on ten metrics related to affordability, financial readiness, and access to homeownership. High-impact metrics included average home price, personal income, down payment size, and mortgage approval rates. The final composite scores (scaled 0–100) rank cities based on the relative ease with which renters can transition into homeownership.
Findings summed up.
| City | Avg. Home Price | Median Down Payment | 15-Yr Mortgage Rate | Homeownership Rate | Mortgage Approval Rate | Composite Score |
| Des Moines, IA | $226.8K | $26.5K | 4.84% | 71.80% | 68.70% | 99.4 |
| Minneapolis, MN | $346.7K | $38.5K | 5.00% | 74.00% | 65.80% | 96.9 |
| Indianapolis, IN | $245.5K | $17.5K | 4.94% | 73.30% | 60.90% | 92.6 |
| Morgantown, WV | $168.2K | $6.6K | 5.00% | 77.00% | 54.00% | 89.4 |
| Charleston, SC | $301.8K | $24.4K | 4.99% | 73.00% | 53.40% | 88.0 |
| Fargo, ND | $268.6K | $24.5K | 4.96% | 65.70% | 68.80% | 86.0 |
| Huntsville, AL | $228.3K | $8.8K | 4.91% | 73.80% | 53.50% | 83.1 |
| Pittsburgh, PA | $271.9K | $25.4K | 4.86% | 71.00% | 61.40% | 82.9 |
| Grand Rapids, MI | $249.9K | $23.2K | 4.86% | 74.10% | 61.30% | 81.8 |
| Kansas City, MO | $252.4K | $17.8K | 4.90% | 68.70% | 60.00% | 80.7 |
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Des Moines ranks first with a composite score of 99.4, leading all U.S. cities with the most favorable conditions for renters to become homeowners. Home prices average $226,800, among the lowest in the ranking, and mortgage approvals are at 68.7%. These numbers make it easier for renters to make the leap to owning, especially compared to cities with steeper entry points like Charleston or Kansas City.
Minneapolis follows in second with a score of 96.9. Though it’s the most expensive city in the group with an average home price of $346,700, a 65.8% mortgage approval rate, and the highest homeownership rate in the top five help balance the cost. Renters here have fewer access issues than those in lower-ranked cities like Fargo or Pittsburgh.
Indianapolis comes in third, scoring 92.6. Home prices sit at $245,500, and renters need roughly $17,500 upfront, much lower than in Minneapolis or Pittsburgh. Mortgage approvals are at 60.9%, slightly above average, giving renters better odds than in Charleston or Kansas City.
Morgantown ranks fourth among U.S. cities where renters are most likely to become homeowners, scoring 89.4. The city stands out for affordability: its average home price is just $168,200, the lowest of all ten, and the typical down payment is $6,600, far below what’s needed in Grand Rapids or Fargo. Approval rates are lower at 54%, but the cost of entry is hard to beat.
Charleston holds the fifth spot with a score of 88.0. Homes here average $301,800, and renters need about $24,400 upfront. Despite higher costs than cities like Morgantown or Indianapolis, a homeownership rate of 73% keeps the city in the top half of the list.
Fargo takes the sixth spot in this list of U.S. cities where renters can move into ownership more easily, with a score of 86. It leads the group in mortgage approval rates at 68.8%, slightly ahead of Des Moines. But home prices average $268,600, and only 65.7% of residents own their homes, lower than most cities ranked above.
Huntsville secures seventh with a score of 83.1. It has one of the lowest down payments at about $8,800, and home prices are on the lower end at $228,300. Still, a 53.5% approval rate limits how many renters can actually buy, keeping the city from climbing higher.
Pittsburgh ranks eighth, earning a score of 82.9. Average home prices hit $271,900, and down payments are around $25,400, similar to Fargo but with slightly higher mortgage approvals at 61.4%. Renters here have better odds than in Kansas City, but higher upfront costs than in Huntsville.
With a score of 81.8, Grand Rapids lands in ninth in the ranking of U.S. cities where renters have the best odds of buying. The city has the highest homeownership rate of all ten (74.1%), but that hasn’t made it cheaper to buy in; down payments are over $23,000, and approvals are at 61.3%. Renters face more financial challenges than in cities like Indianapolis or Des Moines.
Kansas City rounds out the list in tenth with a score of 80.7. Home prices are moderate at $252,400, and renters need around $17,800 to get started. But with mortgage approvals at 60%, Kansas City stays behind cities like Pittsburgh or Fargo when it comes to access.
Christopher Vardanyan, CEO at Rocket Moving, commented on the study: “A lot of renters assume buying a home is out of reach, but that depends entirely on where you’re looking. In some cities, the difference between renting and owning comes down to a few thousand dollars and slightly better loan odds. That’s a much shorter leap than people think, especially when you compare it to cities where both the down payment and mortgage approval chances are working against you.”