US EditionWhere Millennials are buying homes
Millennials purchased homes at rates ranging from 4.5% in Raleigh-Cary to 0.52% in San Francisco, influenced by income levels and local housing market conditions, SmartAsset reported.
- SmartAsset ranked 41 of the largest U.S. metro areas and found the Raleigh-Cary, NC metro posted the largest share, with 4.5% of residents aged 25 to 44 buying homes last year.
- Jaclyn DeJohn of SmartAsset noted Millennial buying speeds vary by metro, with many at peak earnings, influencing local markets through analysis of Home Mortgage Disclosure Act data and 2023 Census figures.
- In price contrasts, the San Jose area shows Millennials bought the priciest homes last year with a $1.565 million median value, while the San Francisco Bay area had just 0.52% purchase rates; New York City and Miami recorded 0.76% and 0.94% respectively.
- The analysis suggests Houston, TX metro issued over 60,000 Millennial mortgages last year, yet 61,826 originations represented just 2.85% of that age group, ranking 27th by population.
- Looking at buyer profiles, the median Millennial homeowner income is $138,000, with 19,735 conventional mortgages issued nationwide at a median property value of $455,000.
Insights by Ground AI
Does this summary seem wrong?
30 Articles
30 Articles
Where Millennials are buying homes | News Channel 3-12
Mihai_Andritoiu // Shutterstock Where Millennials are buying homes Millennials – all squarely within their primary working years—are buying homes more or less quickly depending on the metro area. In some places, 1 in every 25 residents between the ages of 25 and 44 purchased a home with a conventional mortgage just in 2024 alone. In other major metros, less than 1 in 100 Millennial-aged residents last year. This disparity can cause divergent imp…
Many people are struggling to find housing in Stjørdal, even with financial assistance from the Housing Bank. Now the municipality will increase the limit for start-up loans.
Coverage Details
Total News Sources30
Leaning Left2Leaning Right0Center27Last UpdatedBias Distribution93% Center
Bias Distribution
- 93% of the sources are Center
93% Center
C 93%
Factuality
To view factuality data please Upgrade to Premium
