Almost half of millennial homebuyers are flocking to the suburbs, seeking bigger and more affordable homes, and close proximity to urban amenities, according to Zillow.
Using data and analysis Money's 2018 report on the best cities to live in each state in the U.S., CNBC picked 20 suburbs that score well on affordability, education, safety, and convenience. Paradise Valley, Arizona, located near Phoenix and Scottsdale, had the highest median household income, $138,192, with 9.08 percent projected job growth.
"One big reason for the popularity of suburbs is cost," Zillow reports. "As urban cores have soared in popularity, so have the price tags on urban homes. To afford bigger homes, and to find the shared amenities they like such as community gyms and pools, many millennials are willing to live farther out."
Advertisement
Related Stories
Sustainability
Which Green Building Practices Are Home Builders Using Most?
A recent report reveals which green-building practices are most popular among single-family home builders and remodelers
Market Data + Trends
Single-Family Permits Show Increase in February
Year-to-date ending in February, single-family permits were up in all four regions of the U.S.
Financing
Q1 2024 Foreclosure Activity Rises Slightly
Data show New York, Houston, and Chicago topping the list of major metros with the greatest number of foreclosure starts during Q1 2024