Advertisement
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%.

Advertisement - Article continues below

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.

Advertisement

Most Popular

65 Best Dividend Stocks You Can Count On
stocks

65 Best Dividend Stocks You Can Count On

These 65 Dividend Aristocrats are an elite group of dividend stocks that have reliably increased their annual payouts every year for at least a quarte…
July 8, 2020
8 Ways You Might Be Cheating on Your Taxes
taxes

8 Ways You Might Be Cheating on Your Taxes

Don't fall into these common traps that can get you in hot water with the IRS.
July 8, 2020
Find a Great Place to Retire
happy retirement

Find a Great Place to Retire

Our cities provide plenty of space to spread out without skimping on health care or other amenities.
July 2, 2020

Recommended

12 Things Every Home Buyer Should Do
real estate

12 Things Every Home Buyer Should Do

Buying a home may be one of the biggest purchases you will ever make.
June 12, 2020
11 Things Every Home Seller Should Do
real estate

11 Things Every Home Seller Should Do

As a home seller, your goal is to sell your property quickly for the most money possible.
June 12, 2020
20 Best Stocks to Buy for the Next Bull Market
stocks

20 Best Stocks to Buy for the Next Bull Market

The stock market isn't out of the woods yet, but it's getting late in the game for defense. These are 20 of the best stocks to buy now as you prepare …
May 22, 2020
14 Must-Have Items for Your Home Emergency Kit
real estate

14 Must-Have Items for Your Home Emergency Kit

Now more than ever, you need to be prepared to survive on your own in the case of disaster -- days without power, food or water from the tap.
May 21, 2020