People under the age of 36 make up 64 percent of first-time homebuyers and 34 percent of all buyers. They have some pretty specific tastes when it comes to where they want to live: They want short commutes, parks, nightlife, and, perhaps most importantly, housing that’s affordable.
Realtor.com found the 10 cities that have attracted the most interest from Millennial buyers, based on listings searched over the last six months.
Salt Lake City ranked first, spurred by a thriving tech sector, low unemployment rate, attainable housing ($360,000 median home price), and outdoor scenery and activities. Other hot cities for young people included mainstays such as Miami, Seattle, Los Angeles, and San Francisco.
Two northern New York cities, Buffalo and Albany, also made the list. Buffalo has cheap housing (a median price of $158,000), cultural attractions, and an influx of jobs. Albany also has available tech jobs, along with a revitalized downtown with new bars, hotels, and restaurants.
Advertisement
Related Stories
Economics
Shelter Costs Drive Inflation Higher Than Expected in January
January Consumer Price Index data show inflation increased more than anticipated as shelter costs continue to rise despite Federal Reserve policy tightening
Economics
Weighing the Effects of the Fed's and Treasury's Latest Announcements
The upshot of the Jan. 31 announcements is that while mortgage rates will stay higher for longer, they're likely to hold steady
Economics
NAHB CEO Tobin Says 'Housing Renaissance' on the Horizon
Responding to positive housing-related data such as falling mortgage rates and increased homebuyer activity, NAHB's CEO Jim Tobin is optimistic