Currently Reading

The Factors Influencing Where Millennials Move


The Factors Influencing Where Millennials Move

October 12, 2020
Two smiling Millennial friends moving into their home
Photo: Monkey Business

As the Millennial generation begins to age out of its young-adult titles, more Millenials are looking to become homeowners. Yet, there are factors of our current economy that affect where, when, and how the majority of Millennials can become homeowners. According to a 2018 Federal Reserve study, Millennials are less well off than previous generations. They are spending more, making less, and have significantly less savings. Even cities deemed affordable are not priced low enough for many Millennials. As the generation gets priced out of cities such as New York and Chicago, many migrate to Seattle, Denver, and Austin, according to Forbes.

Today's pandemic market has a similar focus on affordability. Several surveys have found that most people attribute relocating to the fact that they could no longer afford current housing, rather than moving strictly because of the threat of Covid-19. A market correction in housing and financial stability are two of the main factors millennials consider when moving into metropolitan areas.

A spike in searches for bigger living spaces might indicate that the market is heading toward horizontal cities that offer ample square footage. However, it's still unclear if migration out of major vertical cities should be attributed to Covid-19. I believe a price correction to properties value was due.

Read More

Related Stories


Gen Z Is Buying in These 10 Cities

Salt Lake City, Utah is a magnet for Gen Z home buyers, the population group born after 1996.

The burgeoning tech hub on the edge of the…


5 Top Ranking Cities for Retirees

U.S. News & World Report announced the best places to retire for both 2020 and 2021. To do so, the company surveyed more than 3,000 people…


Latinx Americans Push Up Total U.S. Homeownership Rates

Latinx homeownership rates have continually increased since 2008, taking total homeownership up with it. Since the Great Recession, homeownership…


More in Category


Create an account

By creating an account, you agree to Pro Builder's terms of service and privacy policy.

Daily Feed Newsletter

Get Pro Builder in your inbox

Each day, Pro Builder's editors assemble the latest breaking industry news, hottest trends, and most relevant research, delivered to your inbox.

Save the stories you care about

Lorem ipsum dolor sit amet lorem ipsum dolor sit amet lorem ipsum dolor sit amet.

The bookmark icon allows you to save any story to your account to read it later
Tap it once to save, and tap it again to unsave

It looks like you’re using an ad-blocker!

Pro Builder is an advertisting supported site and we noticed you have ad-blocking enabled in your browser. There are two ways you can keep reading:

Disable your ad-blocker
Disable now
Subscribe to Pro Builder
Already a member? Sign in
Become a Member

Subscribe to Pro Builder for unlimited access

Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.