Tool Determines How Much Square Footage Millennials Can Buy
In major cities, young potential buyers are having trouble buying even modest-sized houses.
Jan. 11, 2016
Tool Determines How Much Square Footage Millennials Can Buy
In more than half of the biggest cities in the U.S., the typical Millennial is struggling to afford a house with more than 1,000 square feet, the Huffington Post reports.
The tech company SmartAsset has a home affordability calculator that analyzes median incomes of people under 35, and then compares those figures to interest rates and down payments of homes in 23 cities.
Cities like Denver, Los Angeles, New York, and San Francisco offer the least amount of space for the price, but Millennials could land decent-sized homes for cheap in Memphis and Detroit.
