Millennials in this state are increasingly becoming homeowners. Here’s how some of them achieved it.
Millennial buyers now account for nearly half of Utah home purchases, as lower rates, saving and family help ease the path to ownership.
- A RentCafe analysis indicates millennials face distinct market challenges, though Utah cities including Provo, Ogden, and Salt Lake City rank as top locations for ownership.
- High home prices and elevated mortgage rates hinder prospective buyers, though millennials who purchased during the low-interest-rate window five years ago secured more manageable payments.
- These Utah markets outperformed national averages due to strong job growth, as Yardi Matrix business manager Doug Ressler noted these cities attract buyers seeking long-term equity.
- Homeowners like Cynthia Lew and Rick Egan feel "the squeeze" as their family grows in their starter home, yet they prefer owning to renting for stability.
- Nationwide, the share of millennial households that own homes has increased, though the gap between renting and buying remains sensitive to local market conditions.
45 Articles
45 Articles
Millennials in this state are increasingly becoming homeowners. Here’s how some of them achieved it. - Seward Independent
When Kelsey Brown and her husband were searching for a house to buy in 2021, every offer they put in was above the asking price.Five years later, they’re both in their 30s with a second child on the way but aren’t sure when — or where — they’ll be able to afford to move on from their Millcreek, Utah, home.“Buying when we did was challenging in its own way, but it wasn’t necessarily a financial challenge in the way it’s feeling today,” Brown told…
The Billings Gazette
Millennials in this state are increasingly becoming homeowners. Here’s how some of them achieved it.
The Salt Lake Tribune reports millennials in Utah are becoming homeowners, with a 74% increase in ownership since 2018, driven by timing, income, and luck.
54% of the millennial homes in the US were own in 2024; Provo leads ownership and Los Angeles rent, according to data analyzed
Coverage Details
Bias Distribution
- 93% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
