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Where Millenials are Buying

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Millenials are often pegged as a generation of renters, but according to realtor.com research that’s not necessarily the case. In fact, they’re just as or maybe even more interested in buying a home than other age groups. The only thing setting them back, according to realtor.com, is that Millenials often face much bigger financial hurdles.

“This generation hit the job market during one of the largest recessions of all time, and they’ve had to work hard to establish credit and save for a down payment. With the older segment just beginning to enjoy living the life that drives homeownership—including marriage and children—now is the most appropriate time for them to consider homeownership. And that’s exactly what the latest numbers are showing,” states realtor.com chief economist, Jonathan Smoke.

So what markets are Millenials targeting? Following are the top 10 areas where Millennials are the most represented among mortgage borrowers as identified by realtor.com:

  1. Des Moines, Iowa
  2. Provo, Utah
  3. Baton Rouge, Louisiana
  4. Pittsburgh, Pennsylvania
  5. Lafayette, Louisiana
  6. Grand Rapids, Michigan
  7. Madison, Wisconsin
  8. Clarksville, Tennesee
  9. New Orleans, Louisiana
  10. Shreveport, Louisiana