Data says that home buying has seen a downward trend since last year but the demand for millennials has significantly soared in these top US metro areas.
Top US Metro Areas for Millennials to Buy Homes
Researchers at Construction Coverage studied the most recent data from the Federal Financial Institutions Examination Council to come up with these top US metro areas to buy homes for millennials. They ruled out these top US metro areas based on the millennial share of conventional home purchase loans starting in 2022. The analysis comprised of age 25-44 in the year 2022.
1. Top US Metro Areas: Midland, Texas, 70.3%
Midland, situated between Fort Worth and El Paso ranked first in the top US metro areas for millennials. Home to a hundred thirty thousand folks, the median home price here is $250,300.
2. Top US Metro Areas: Fargo, North Dakota-Minnesota, 65.8%
Next on the rank in the top US metro areas for millennials is Fargo which includes the Fargo, Moorhead, and West Fargo. Comprised of a hundred twenty-five thousand people, the median home value here is around $232,900.
3. Top US Metro Areas: Kingston, New York, 65.5%
Third on the list of the top US metro areas for millennials is Kingston. This metro with an under twenty-four thousand population is home to young families and young professionals, with good ratings on schools. Here, the median home price is reportedly at $198,900.
4. Top US Metro Areas: El Centro, California, 64.2%
This desert metro of El Centro has less than forty-five thousand people, onboarding the fourth spot of the top US metro areas for millennials. It has a median home price of $221,500.
5. Top US Metro Areas: Logan, Utah-Idaho, 64%
Here’s Logan, Utah with more than fifty-two thousand residents boarding the fifth spot of the top US metro areas for millennials, is located in the Bear River Range. This metro is a great spot for fishing, biking, skiing, golfing, and hiking. The median home value is set at $238,400.
6. Top US Metro Areas: Hanford-Corcoran, California, 63.9%
Sixth on the list of the top US metro areas for millennials is Hanford-Corcoran. This agricultural metro situated in the south-central San Joaquin Valley is home to folks of around fifty-nine thousand. The median home value in this metro is around $250,000.
7. Top US Metro Areas: Burlington-South Burlington, Vermont, 63.6%
Burlington-South Burlington was included in the seventh spot of the top US metro areas for millennials. This relatively small metro of less than forty-five thousand people boasts the bustle amenities, nightlife, culture, and business of a much larger city.
8. Top US Metro Areas: Bloomington, Illinois, 63.4%
Bloomington with a median home value of $168,800 got on to the eighth spot in the top US metro areas for millennials. This agriculturally rich and diverse economy metro is famous for its major manufacturers and industries that help well for jobs and employment. Here, an average resident makes around $60,000 each year.
9. Top US Metro Areas: Morgantown, West Virginia, 63.2%
With around thirty thousand population, Morgantown situated at Monongahela River ranked ninth in the top US metro areas for millennials. Morgantown’s median home price is $261,229.
10. Top US Metro Areas: Yuba City, California, 62.4%
Last but definitely not least on the rank of the top US metro areas for millennials is Yuba City. Yuba City’s median home value is among California’s most affordable which is at $323,700. This metro has a blend of urban and agricultural elements for a town with nearly seventy thousand people.