People in certain professions have it better when it comes to homeownership. To provide insight about the kind of job and how it could affect home affordability, Ancestry.com put together a list of comprehensive data that shows which occupation is best or least favorable for homeownership.
One would think a profession more sophisticated and that generated more salary would be more favorable for homeownership, but the study shows that it is more complex than it appears to be.
The study, which analyzed data from the Census Bureau, found that firemen were more likely to own homes than lawyers or judges. And, teachers also rank above economists when it comes to homeownership.
Dancers and dance instructors have it hardest when it comes to homeownership and serving in the Armed Forces doesn't help either.
Below are the top 10 professions for homeownership:
- Optometrists: 90%
- Toolmakers and Die Makers/Setters: 88%
- Dentists: 87%
- Power Station Operators: 87%
- Forgemen and Hammermen: 84%
- Inspectors: 84%
- Firemen: 84%
- Locomotive Engineers: 84%
- Airplane Pilots and Navigators: 83%
- Farmers: 81%
And here are the least 10 professions for homeownership:
- Dancers and Dance Teachers: 23%
- Motion Picture Projectionists: 27%
- Waiters and Waitresses: 27%
- Counter and Fountain Workers: 28%
- Members of the Armed Forces: 33%
- Service Workers (except private households): 34%
- Bartenders: 35%
- Charwomen and Cleaners: 35%
- Cashiers: 36%
- Cooks (except private households): 36%
"This kind of historical context is extremely valuable information for people researching their family history," Todd Godfrey, Head of Global Content at Ancestry, said in a statement.
"Home ownership, occupation, and location are often key bits of information that can help bring the stories of our ancestors to life and greater illumination to the times in which they lived," he added.
Income is a big factor when it comes to making the ultimate property-buying decision. The housing market hasn't picked up as much as it should have mostly because of the gloomy jobs sector. But, that has been changing.
In its September jobs reports, the Bureau of Labor Statistics said that the country added 248,000 jobs last month alone and unemployment rates fell to 5.9 percent.
"Finally we've got some balance back in the U.S. economy," Dr. Patricia Buckley, director for economic policy and analysis for Deloitte, told Forbes.
Also read this Glassdoor survey that found the best cities for people to work in in the United States.
