WATCH: The Hottest Southern City for Young Millennial Homeowners
Realtor.com crunched the numbers to see where 20-somethings are buying.
Buying a home is a milestone at any phase of life.
But purchasing a home in your twenties perhaps creates the biggest surreal booms to your noggin. Pride, fear, anxiety, happiness. Did you really just sign the mortgage?
To find out where 20-something home buyers are settling, Realtor.com set out to identify the most popular markets for these young homeowners. Here's how the Realtor.com data team determined where 20-to-29-year-olds are purchasing the most homes: First, they established where this demographic took out the highest percentage of mortgages in 2018 in America's 200 largest metropolitan areas using mortgage data from Optimal Blue, leaving out mortgages that were refinances or for second homes. Then, to ensure geographic diversity, the rankings were kept to one metro area per state. (It's worth noting that a metro area includes both the city itself and surrounding cities and towns.)
The number one locale with the most 20-something home buyers was Evansville, Indiana, but several Southern spots made the cut. In third place came Clarksville, Tennessee, with a median listing price of $226,800 and 31.8% of mortgages issued to buyers between the ages of 20 to 29. With rising real estate prices in Nashville, this more moderately priced hub less than an hour away from Music City proves itself an attractive alternative.
Lafayette, Louisiana trailed closely behind in fourth place with a median listing price of $210,100 and 31.7% of mortgages going to those in the 20-to-29-year-old range.
Check out the full top 10 list on Realtor.com here.
Which of these trending locales would you like to buy a home in the most?