Real Estate 101

The 2016 Hottest Real Estate Markets for Millennials

posted by D.R. Horton December 29, 2015 0 comments

Making up about a third of the population of the housing market, all eyes are on the millennial generation these days. Many factors go into deciding where a millennial might put down roots, including job opportunity, cost of living and nightlife. So it’s no surprise these cities are topping the list for markets that millennials are most likely to buy in 2016 according to realtor.com.

*Atlanta, GA

$234K (median list price) | 13.6% (percentage of population that’s 24-35)

It’s clear why millennials are making “Hotlanta” their new home with a strong job market and low cost of living. According to MarketWatch, the “average salary for recent college grads in Atlanta is 21% higher than the national average.” Combine those two factors and throw in a hip nightlife and you have a millennial’s paradise.

Pittsburgh, PA

$149K | 12.3%

Dubbed the next Portland (but with a lower cost of living), Pittsburgh has caught the eye of many young adults. With a revitalized waterfront area that has generated a new social scene, millennials are flocking to the steel city.

Memphis, TN

$164K | 13.5%

With a low cost of living and median household income figures increasing faster than the national average, millennials are taking advantage of housing opportunities in Memphis. While the good barbeque might be a draw, the affordable housing is encouraging young adults to stick around and buy.

Boston, MA

$408K | 13.8%

The 85 colleges and universities attract young adults to Boston each year, but the plentiful job opportunities (especially those in the tech sector) and historical charm keep millennials around post-graduation.

*Austin

$367K | 16.5%

Known as a hipster’s paradise with a vibrant music scene and the home of South by Southwest, Austin boasts more than just a lively festival scene. Tech companies like Google, Facebook and Apple continue to flock to Austin and millennials enjoy both a strong job market and a diverse social scene.

*San Diego

$585K | 15.5%

The obvious draw of beautiful year-round weather and gorgeous beaches make San Diego a clear choice for millennials. Add a strong economy driven by the booming biotech industry and it’s no surprise why millennials make San Diego home.

*Seattle

$398K | 14.9%

Clearly a tech hub for large companies such as Microsoft and Amazon (as well as a certain coffee company), Seattle has seen an increase in educated young adults over the years. While its weather might get a bad rap, its uniquely cool culture is reason enough for millennials to stick around.

*Houston

$312K | 14.4%

With 26 Fortune 500 companies calling Houston home, career opportunities and a low cost of living draw young professionals in droves each year. In fact, Houston saw a 49% increase in its percentage of college graduates ages 25 to 34 according to City Observer.

*Denver

$449K | 14.9%

If you prefer mountains to beaches, Denver is an obvious choice with its proximity to great outdoor activities and a cool, laid-back vibe. But it doesn’t stop there. Denver’s strong tech industry provides a stable job market for millennials.

*Charlotte

$230K | 13.1%

Ranked No. 2 among the country’s 25 largest cities for population growth from 2010-2013 according to realtor.com, it’s probably safe to bet millennials will continue settling down in Charlotte for its low cost of living and vibrant uptown area.

Interested in learning more about the home buying process or D.R. Horton’s homes in these markets? Contact us today.

*D.R. Horton builds in these markets. 

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