{"id":64904,"date":"2019-01-31T04:00:18","date_gmt":"2019-01-31T12:00:18","guid":{"rendered":"https:\/\/redfindevelop.wpengine.com\/blog\/?p=64904"},"modified":"2020-10-06T12:58:37","modified_gmt":"2020-10-06T19:58:37","slug":"affordable-areas-for-millennial-homebuyers","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/news\/affordable-areas-for-millennial-homebuyers\/","title":{"rendered":"St. Louis, Pittsburgh and Columbus Are the Most Affordable Areas for Millennial Homebuyers"},"content":{"rendered":"

In some coastal areas, only a small portion of homes are affordable to the typical millennial\u2014but in certain inland cities, nearly 90 percent of the housing market is affordable for the generation.<\/span><\/i><\/p>\n

St. Louis<\/a> was the most affordable metro for millennials as of the end of 2018, with more than 88 percent of homes for sale affordable on a $68,805 annual salary, the median household income for a millennial in the area. Like St. Louis, the majority of the other most affordable places for millennial homebuyers are inland, with three in the state of Ohio. Of the top 10 most affordable areas, Columbus, Ohio<\/a> was the only place where the share of homes within reach for millennials increased from 2017 to 2018. The rest saw their share of affordable homes decline. <\/span><\/p>\n

\u201cWe work with a lot of millennial homebuyers in Columbus,\u201d said Redfin agent Joseph \u201cButch\u201d Wahlsmith<\/a>. \u201cBeyond affordability, millennials are attracted to Columbus because it\u2019s a small city with big amenities and it\u2019s centrally located with an international airport that gets you everywhere you need to go. Home to Ohio State University, it has a diverse economy with job opportunities in government, higher education, healthcare, technology and many other industries.\u201d<\/span><\/p>\n

In St. Louis, Redfin agent Amanda Hurtt<\/a> said she\u2019s noticed the area has become more popular over the last few years for millennials, particularly those who are buying a home for the first time. \u201cWith big employers like Boeing and Mastercard, St. Louis is experiencing a lot of employment growth right now. A lot of millennials are moving into the area for jobs,\u201d Hurtt said. \u201cOne thing I\u2019ve noticed about the generation is that they aren\u2019t afraid of projects: If a home\u2019s location and layout works, they\u2019ll put work into it and make it their own.\u201d<\/span><\/p>\n

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