There are now many popular cities that many millennials are choosing from to call their new home. But what exactly are those said cities in their choice list? Is there a specific city that you are also looking into to be your next future home?
Some of the Popular Cities Chosen by Millennials as Their Next Home of Choice
According to Forbes, the research done by LendingTree (a loaning company) has surprised them and will surely surprise you as well.
Do take note that the research done is according to LendingTree's own metrics when it comes to mortgage purchase requests made by potential homeowners who wanted to purchase a new home.
To give a brief summary of their findings in their research, the new housing trends for Millennials are the following:
- Top cities chosen by many Millennials, mostly younger ones, have high-paying jobs related to the IT industry.
- Other cities are chosen if they have high-paying jobs, even though the said job is not related to the IT industry.
As for the most popular cities that most of them choose to live in, many are choosing between San Jose and Boston as their top choice. Do note that the said two cities are where housing properties are the most expensive.
However, many Millennials with lots of extra cash are willing to spend that much in order to live in either one of those locations mentioned.
Take note of the city of San Jose for example, wherein the Millennials who are wanting to live in that location have summed up the highest down payments when compared to others.
The said total amount of all down payments made recorded was $158,040. That kind of high down payment recorded means that many Millennials applying and needing a mortgage totaled up to $704,318.
Meanwhile, the current housing prices in the said location are now at an average of $1,275,627.
As for the number two location for most Millennials, the current average housing prices in Boston are now above one million dollars in most areas.
As of the latest, many tech companies and those related to the IT industry are starting to build up their companies in Boston, making it a good choice for those working in such industry.
Other Well-Known Cities That Are Popular To Millennials As Well
Aside from San Jose and Boston, there are other cities that are very popular to Millennials that you might know.
According to the U.S. News, listed below are some of the cities that you may know (or even have been to) that are very popular to Millennials as their next choice for a new home:
- Nashville, Tennessee
- Seattle, Washington
- Raleigh, North Carolina
- Washington, D.C.
- Denver, Colorado
- Orlando, Florida
- Phoenix, Arizona
- Austin, Texas
- Houston, Texas
- Dallas, Texas
You may find it surprising that three states from Texas are on the choices of many Millennials that want to choose as their new home.
Do take note that this result came from a different form of research from a different group from the first one mentioned, namely the Meyers Research.
