Millennials are facing plenty of roadblocks to homeownership: high student loan debt, record high home values, stagnating incomes, and high rents. Yet, in particular areas of the country, these young adults are still increasingly finding ways to become homeowners.
SmartAsset, a personal finance website, recently ranked places based on where millennials are buying the most homes. They looked at the current rate of millennial homeownership and compared it to 10 years ago.
Overall, millennial homeownership is down across the 200 cities analyzed, researchers note. Only 42 cities have seen an uptick in millennial homeownership rates.
Also, researchers found that home values alone were not a significant factor in where millennials are buying. The top 25 cities were millennials are buying homes had an average median home value of $294,000 whereas the 25 cities where millennials are buying the fewest number of homes averaged near that at $284,300.
Author:Mike and Mike THE Real Estate Agents Phone: 214-316-2472 Dated: February 3rd 2019 Views: 362 About Mike and Mike: Mike V received his Real Estate License at Kaplan University in Dallas and began his real estate car...
Charlene Winter has been working in Real Estate for 31 years including 19 years as a licensed Broker. After earning her Associates in Real Estate at an early age, she has been a successful resource in her community. Exuding a positive attitude and her ability to listen to the needs and desires of her buyers and sellers make her a valuable asset to her clients. She has also earned her Master of Science International Management and Marketing to aide with the real estate needs to increase profitability for each investment property client. These assets as well as others not mentioned here are the reason Charlene Winter comes highly recommended from many of her past clients