The millennial generation will play a crucial role in the real estate market over the next 20 years. In this article we will evaluate the top 10 real estate markets cities for millennials!
The millennial generation includes people born from 1981 to 1997. They are considered to be the largest living generation in the nation and an essential key factor of the real estate market over the next 15-20 years.
The truth is that many young adults struggle when it comes to buying a home. More millennials are considering the option to rent as they are faced with tight budgets or decide to live with their parents.
However, this does not have to be your option as well. You may find an excellent opportunity in less expensive cities that can offer you employment, lower incomes necessary to buy a home, and solid housing conditions.
The National Association of Realtors or NAR has recently analyzed 100 largest metropolitan areas across the country and came up with a top 10 best real estate market areas for millennials. This list includes homes in your price range and can definitely meet the needs of different people.
Top 10 Best Markets for Millennials:
1. Austin, Texas – The median household income in Austin, Texas is $51.810 and the share of millennial movers is 29.4%.
2. Charleston, South Carolina – The median household income in Charleston, South Carolina is $47.903 and the share of millennial movers is 24.5%.
3. Denver – The median household income in Denver is $50.923 and the share of millennial movers is 27.7%.
4. Minneapolis, Minnesota – The median household income in Minneapolis, Minnesota is $55.066 and the share of millennial movers is 27.4%.
5. Ogden, Utah – The median household income in Ogden, Utah is $54.608 and the share of millennial movers is 24.6%.
6. Portland, Oregon – The median household income in Portland, Oregon is $44.792 and the share of millennial movers is 26.7%.
7. Raleigh, North Carolina – The median household income in Raleigh, North Carolina is $49.892 and the share of millennial movers is 25.7%.
8. Salt Lake City – The median household income in Salt Lake City is $51.930 and the share of millennial movers is 27.2%.
9. Seattle – The median household income in Seattle is $64.294 and the share of millennial movers is 29.0%.
10. Washington, D.C. – The median household income in Washington, D.C. is $69.874 and the share of millennial movers is 28.3%.
According to the research, the city that proved to be the least attractive to the millennial homebuyers is Marin County, California.
