Skip to main content

The Most Popular Millennial Housing Market Is …

Phil Hall
Mar 22, 2017
Where are the Millennials looking to buy a home

Where are the Millennials looking to buy a home? According to Realtor.com, the answer is a mix of the usual Millennial magnet cities and a few surprising markets.
 
In rank order, Realtor.com’s new list of the Top Cities for Millennials are Salt Lake City; Miami; Orlando; Seattle; Houston; Los Angeles; Buffalo, N.Y.; Albany, N.Y.; San Francisco; and San Jose, Calif.
 
While the presence of Salt Lake City and Seattle in the upper rankings should not be unexpected—both have the highest share of Millennials in their respective populations, at 15.8 percent and 15.2 percent—the presence of the upstate New York markets on the list can be credited to their affordable housing options. Realtor.com noted that Buffalo leads the nation’s major metros with the most affordable home prices relative to salary, at 22.7 percent, followed by Albany where people only use 27.3 percent of their income on a home; in comparison, Salt Lake City where buyers use 30 percent.
 
“High job growth in markets such as Orlando, Seattle, and Miami, and the power of affordability in places like Albany and Buffalo are making these markets magnets for Millennials.” said Javier Vivas, manager of economic research for Realtor.com. “But what really stands out is that all these markets already have large numbers of Millennials, which translates into strong populations of Millennial homebuyers.”
Published
Mar 22, 2017
Reports: Evergrande Group Makes $83.5M Interest Payment

Faltering Chinese development firm fends off default with payment to international bondholders.

Industry News
Oct 22, 2021
FAR Establishes Borrower Engagement Division

Finance of America Reverse LLC announced its formally established Borrower Engagement Division.

Industry News
Oct 22, 2021
Automating Appraisals No Panacea For Removing Bias

With racism 'grandfathered in' to housing prices in minority neighborhoods, a solution to 'unconscious bias' is difficult to find

Industry News
Oct 21, 2021
Reports: Evergrande Group Arranges Bond Extension

Reuters, REDD say company's billionaire chairman has agreed to provide additional collateral to ensure a construction project tied to a $260M bond is completed.

Industry News
Oct 21, 2021
New American Funding Hires Regional Manager

Mark Tribuna will lead effort to expand company's partnership with affordable nonprofit builders in mid-Pacific region

Industry News
Oct 21, 2021
Rocket Pro Announces Initiatives To Boost Brokers

Company brings Rocket Tech, the Rocket Network and Rocket Marketing to mortgage brokers across the country

Industry News
Oct 19, 2021