Heres Where All The Millennials Are Going

Dated: January 2 2015

Views: 522

Generation Y flocks to the capital


This year is being dubbed the year that millennials will break into housing, and what better place for them to do that than in the nation’s capital, which is home to the highest percentage of millennials, according to an articlein Fusion.  


Arlington, Virginia, now has the highest percentage of millennials among all U.S. cities, at 40%. The Washington, D.C. suburb saw the share of its residents born between 1977 and 1992 climb 78% from 2007 to 2013, the article said.


This does come with its challenges though.


“First-time buyers…are stuck between a rock and a hard place in today’s housing market: many of the markets with the jobs and amenities they want have hard-to-afford rents and even harder-to-afford home prices; while the more affordable markets have fewer well-paying jobs and tend to be off the beaten path,” said Daren Blomquist, vice president at RealtyTrac.


Other top areas of choice include Denver, Manhattan and San Francisco. 


Source

Blog author image

Mark Ross

For Mark Ross, founder of Ross NW Real Estate and professional real estate broker, real estate has always been the career of choice. During his 25+ years in the industry, Mark has gained experience in....

Latest Blog Posts

Mortgage Underwriting Challenges In The Pandemic

In December, AmTrust Title Insurance Company announced the hiring of seasoned underwriter Mary Shelley as its midwest region agency underwriter. We took the opportunity to talk to Shelley, who has

Read More

How Bidens Stimulus Plan Impacts Housing

President-elect Joe Biden’s $1.9 trillion stimulus, unveiled Thursday as the American Rescue Plan, includes a call for extending the national moratorium on evictions and foreclosures until Sept.,

Read More

Will We Have A Buyers Housing Market In 2021

If you’re looking to buy a home, you’ll stand the best chance in a buyer’s housing market, where listings are flush, demand is low and buyers have the upper hand — not to mention most of the

Read More

What To Budget For Closing Costs When Buying A House

Are you considering purchasing a home for the first time? Then you’re probably already saving money for your down payment. But what about all the other costs needed to complete the transaction?

Read More