real estate

Best Cities for Young Home Buyers

Homeownership may seem out of your reach, but in these 10 locations, it may be more attainable than you think.

With mountains of student debt, a slowly recovering job market and minimal wage growth, many twenty- and thirtysomethings may not even be pondering the idea of owning a home. Plus, rising home prices and strict credit standards can make homeownership seem unattainable.

See Also: Find the Best Mortgage Rates in Your Area

All of this financial strain has created some serious hesitation among younger would-be homeowners. According to the National Association of Realtors, the under-35 crowd made up 43% of all homeowners in 2005. By the start of this year, that share of the homeowning crowd had dropped to just 36%.

Despite the discouraging landscape, you shouldn't automatically assume that buying a home is out of your reach. While many popular cities, such as San Francisco and Boston, are seeing home prices rising beyond most young people's budgets, plenty of other locations offer unique characteristics that make them perfect prospects for young home shoppers. If you’re expecting to buy your first home in the years ahead, consider this list of great cities for first-time home buyers:

  • Austin, Tex.
  • Dallas
  • Denver
  • Des Moines
  • Grand Rapids
  • Minneapolis
  • New Orleans
  • Ogden, Utah
  • Salt Lake City
  • Seattle

     

    Each boasts a significant population of millennials, promising job growth, affordable home prices and plentiful inventory.

Most Popular

Your Guide to Roth Conversions
Special Report
Tax Breaks

Your Guide to Roth Conversions

A Kiplinger Special Report
February 25, 2021
The 25 Cheapest U.S. Cities to Live In
places to live

The 25 Cheapest U.S. Cities to Live In

Take a look at our list of American cities with the lowest costs of living. Is one of the cheapest cities in the U.S. right for you?
October 13, 2021
15 U.S. Cities With the Highest Average Home Prices
real estate

15 U.S. Cities With the Highest Average Home Prices

Home prices have rocketed higher across most of the country, but housing costs are acutely painful in these 15 U.S. cities.
October 20, 2021

Recommended

15 U.S. Cities With the Highest Average Home Prices
real estate

15 U.S. Cities With the Highest Average Home Prices

Home prices have rocketed higher across most of the country, but housing costs are acutely painful in these 15 U.S. cities.
October 20, 2021
The 25 Cheapest U.S. Cities to Live In
places to live

The 25 Cheapest U.S. Cities to Live In

Take a look at our list of American cities with the lowest costs of living. Is one of the cheapest cities in the U.S. right for you?
October 13, 2021
First Apartment Checklist: Make the Most of Your Search
Brandon Copeland

First Apartment Checklist: Make the Most of Your Search

Atlanta Falcons linebacker and Kiplinger contributing editor Brandon Copeland discusses key factors to consider when searching for an apartment.
September 28, 2021
After Surfside Collapse, 6 Crucial Steps Every Condo Board Should Take Today
real estate

After Surfside Collapse, 6 Crucial Steps Every Condo Board Should Take Today

If you manage a high-rise condo, you have got to be on the ball, because lives could be at stake. To protect your residents (and yourself, as a fiduci…
September 6, 2021