An unusually high number of homeowners in Birmingham inherited their homes, according to an analysis by an insurance company.
Coventry Direct analyzed the latest data from the U.S. Census Bureau’s American Housing Survey, focusing on 34 major U.S. metro areas.
Birmingham and Pittsburgh tied for the lead in the percentage of homes that were inherited. More than seven percent of the homes in each city were received as an inheritance or gift, roughly one in every 14 homes, according to the analysis.
The rate nearly halves for the next closest city, dropping to 4.51 percent for New Orleans in third place.
Nationally, less than four percent of homes were inherited in the average city.
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