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10 Most Affordable Housing Markets For Millennials. Philadelphia, PA Made the List.

Currently, the Millennial generation is know for renting or continuing to live at home with their parents. This has has helped landlords with increased rental property demand and thus increasing rents.  In return this hurts the residential housing market for new and existing homes sales.  

I think if there is a strengthening in the labor force (more jobs and higher wages), this will allow Millennials to contribute to the housing market within the next few years.  If the Millennial generation is a key piece to a sustained residential real estate recovery, the local real estate markets that are most affordable while still being attractive to the Millennial generation are likely to experience housing growth in sales and price.  

The study analyzed the percentage of income needed by median income earners to purchase or rent a median priced home. In Philadelphia that amounted to 14.06 percent of total income.  The following graphic has identified several of the most affordable housing markets for Millennials:

Augusta, GA; Fayetteville, NC; Atlanta, GA; Jacksonville, FL; Philadelphia, PA; Baltimore, MD; Little Rock, AR; Columbus, OH; Omaha, NE; Milwaukee, WI

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September 5, 2014 Posted by | Uncategorized | Leave a comment