How long you live in the house you buy depends mostly on how much you like it. If you like living somewhere, chances are you’ll stay longer. Pretty simple. But there are other factors. These days, mortgage rates are a big one. For example, homeowners who secured a historically low rate during the pandemic-era housing market may now be more reluctant to move and lose it. Another, apparently, is location. According to a new analysis from ATTOM Data Solutions, there’s a pretty big swing in homeownership tenure from one state to the next. For example, in Massachusetts, the average tenure is just over 13 years – which is significantly higher than the national average of 8.5 years. The shortest tenures were found in Maine, which has homeowners who stay an average of 4.8 years before moving. Similarly short tenures were found in Mississippi, South Dakota, Georgia, West Virginia, and Kentucky. The top 10 longest tenures included Connecticut, California, Washington, Rhode Island, New Jersey, and Oregon. (source)
