If you're an older member of the Gen Y/Millennial generation (born 1980 to about 2000), chances are pretty good that you're thinking about buying a home soon – or maybe moving up from a starter home. If you're wondering what cities offer the best opportunity for young homebuyers like yourself, wonder no more!
The National Association of Realtors did the number crunching for you. In its Best Purchase Markets for Aspiring Millennial Buyers Report, NAR analyzes unemployment data, average salaries, median home prices and other factors to build a list of the most affordable cities for Millennial buyers in the U.S. Here they are:
- Austin, Texas
- Des Moines, Iowa
- Grand Rapids, Michigan
- New Orleans
- Ogden, Utah
- Salt Lake City
Here's a great graphic with more details about five of the cities. NAR has even more insightful reports and analytics for Millennial buyers. Check them out.