Conventional wisdom holds that because Gen Xers had more time to accumulate wealth, they are better able to buy a house than Millennials.
Nationally, that would be true as 40% of Gen X renters compared with 37% of Millennials can afford to buy a typical home, according to the National Association of Realtors (NAR). But the income gap between these two groups is narrowing. The NAR analyzed data from 100 of the largest metro areas and found 10 markets where Millennial renters can afford to buy a home compared with any other older generation.
To see the top markets where more Millennials than Gen X renters can afford to buy a typical home …
Advertisement
Related Stories
Design
What Gen-Z Buyers Really Want in a Home
The fervor of planning for Millennials in the home building industry has now pivoted to Gen Z. So, what does this new generation want?
Demographics
Post-Pandemic Trends: Working From Home
A greater share of workers are still working from home than before the pandemic and they're concentrated in the information, professional, and financial services sectors
Demographics
Millennials on Top Again as Largest Homebuying Group
Millennials beat out Boomers as the largest homebuying cohort, according to a recent report, but Boomers remain the largest generation of home sellers
