There are many stereotypes to go around when describing hipsters. As they become homebuyers and homeowners, it's important to identify the areas this age group is targeting, particularly since these choices are reshaping the mainstream housing market.
Realtor.com has created something of a new metric, marrying their Market Hotness Index with Yelp data to analyze the regions millennials are choosing to settle. These rankings suggest hipsters are focused on home value, prizing such factors as affordability, community engagement, and good job prospects.
“Based on our research, there’s clear evidence that 'hipster' popularity in markets like Austin, Texas, has led to mainstream interest and higher home prices over time," said Javier Vivas, director of economic research for realtor.com.
Advertisement
Related Stories
Market Data + Trends
Vacation and Investment Home Market Insights
A recent report finds beach homes to be the most sought-after vacation-home type and that the investment potential of a second home is an important factor in the purchasing decision
Affordability
How Much Income Do First-Time Buyers Need to Afford the Average Home?
The median-priced home is unaffordable in 44 of the 50 largest U.S. metro areas
Affordability
What Is the Relationship Between Urban vs. Suburban Development and Affordability?
A new paper from Harvard's Joint Center looks at whether expanding the supply of suburban housing could, in turn, help make dense urban areas more affordable