Denver top 3 for Millennial homebuyers
Jul 17, 2024, 6:25 PM | Updated: Jul 18, 2024, 6:43 pm
Millennials are moving to Denver. SmartAsset looked at data from millennials, 25- to 44-year-olds whom purchased a home across the country’s 40 largest metro areas in 2022. They also analyzed the median incomes of the age group and the median property value for each metro area.
Millennials are moving to North Carolina, Nashville and Denver. Millennials make up the largest group of homebuyers in the US. Millennials are set to become the history’s wealthiest generation by 2044.
North Carolina’s Raleigh-Cary metro area has the largest share of millennial homebuyers, with 6.5% of local millennials having bought a property in 2022. The median property value here is $445,000. Tennessee Nashville area saw 6% of millennial homebuyers followed closely behind by Denver-Aurora-Lakewood at 5.9%.
The lowest-ranking city for new home-owning millennials is the San-Francisco-Oakland-Berkeley metro area. The average home there costs over $1.5 million dollars.
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