Austin is the 5th Housing Market Choice of Millennials -Realtor.com

The millennials are truly a surprising driving force of the U.S. economy. In fact, it’s hard to believe that the youngsters who used to worry only about fashion, dating, and going to concerts and movies a few years ago are today’s dominant group—dictating on trends in job placement, pop culture, media consumption, and even on the housing market. A recent article published by Realtor.com discusses interesting data: millennials are found to make up only 13.6% of the U.S. population, but 30% of the current population of existing home buyers are millennials. That’s roughly 43.5 million people, aged 25 to 34, shifting one of the most important markets that fuel the U.S. economy.

On that note, Realtor.com’s 2016 real estate forecast made it a point to study and find the top 10 housing markets that will likely see a surge of millennial buyers. While it is expected that millennials will choose to live in the top urban cities where career opportunities are available for them, that hypothesis can only be considered a partial truth. After all, living in urban cities entails living in million-dollar dwellings or spending more than half of their salary for the ridiculously-high rent. It is more accurate to say that the millennials are looking to move into cities where there is a promise of rewarding career growth and an opportunity to invest in real estate with more manageable home prices. Here are the top picks of the millennials for those criteria:

10. Charlotte, NC

• median list price of $230,000
• population share of older millennials: 13.1%

9. Denver, CO

• median list price of $449,000
• population share of older millennials: 14.9%

8. Houston, TX

• median list price: $312,000
• population share of older millennials: 14.4%

7. Seattle, WA

• median list price: $398,000
• population share of older millennials: 14.9%

6. San Diego, CA

• median list price: $585,000
• population share of older millennials: 15.5%

5. Austin, TX

• median list price: $376,000
• population share of older millennials: 16.5%

4. Boston, MA

• median list price: $408,000
• population share of older millennials: 13.8%

3. Memphis, TN

• median list price: $164,000
• population share of older millennials: 13.5%

2. Pittsburgh, PA

• median list price: $149,000
• population share of older millennials: 12.3%

1. Atlanta, GA

• median list price: $234,000
• population share of older millennials: 13.6%

To access the original article published by Realtor.com, please click here. You can also check out our other posts about millennials by viewing our blog.