- Millennials are struggling to afford homes, but their ability to buy partly depends on where they live.
- Clever Real Estate recently ranked the best cities for millennial homebuyers that are both affordable and fun.
- Inland cities, such as Durham, North Carolina, and Dayton, Ohio, are the best places for millennials to buy a home.
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Millennials are delaying homeownership, but they might find house keys in their hands sooner rather than later depending on where they live.
Clever Real Estate recently looked at the best cities for millennials to buy a home – with a focus on cities that are both affordable and appealing – by using data from the US Census, Bureau of Labor Statistics, and Zillow. To determine this list, it ranked the 100 most populated metro areas in the US against four key metrics: job opportunity, home affordability, livability, and housing market forecast.
Read more: Here’s how much it costs to rent a one-bedroom apartment in 15 major US cities
In order to create a list that prioritized cities that are affordable and fun, Clever Real Estate gave livability and home affordability more weight in the ranking. It then determined the weighted average across all four categories to establish each metro’s final score.
Turns out, inland cities are the best places for millennial homebuyers. Cities in North Carolina - like Durham - and Ohio - such as Dayton - made the list multiple times.
Below, see the best places for millennials to buy homes, ranked. Median hourly wages are based on Bureau of Labor Statistics data, median home value is sourced from Zillow, and population estimates are based on metro area data from the US Census Bureau.
20. Durham, North Carolina, has a population of 506,660.
Median hourly wage: $21.94
Median home value: $243,700
19. Chattanooga, Tennessee, has a population of 528,150.
Median hourly wage: $16.55
Median home value: $158,900
18. Buffalo, New York, has a population of 1,135,614.
Median hourly wage: $18.27
Median home value: $159,300
17. Provo, Utah, has a population of 526,885.
Median hourly wage: $16.79
Median home value: $356,400
16. Kansas City, Missouri, has a population of 2,009,341.
Median hourly wage: $18.88
Median home value: $192,900
15. Indianapolis, Indiana, has a population of 1,888,085.
Median hourly wage: $18.15
Median home value: $166,800
14. Wichita, Kansas, has a population of 630,923.
Median hourly wage: $17.20
Median home value: $132,900
13. Winston-Salem, North Carolina, has a population of 640,537.
Median hourly wage: $16.87
Median home value: $146,400
12. Greensboro, North Carolina, has a population of 723,885.
Median hourly wage: $16.78
Median home value: $136,000
11. Madison, Wisconsin, has a population of 605,449.
Median hourly wage: $20.56
Median home value: $257,700
10. Cincinnati, Ohio, has a population of 2,114,659.
Median hourly wage: $18.45
Median home value: $169,900
9. Harrisburg, Pennsylvania, has a population of 549,468.
Median hourly wage: $18.90
Median home value: $177,300
8. Columbus, Ohio, has a population of 1,902,007
Median hourly wage: $18.89
Median home value: $192,000
7. Akron, Ohio, has a population of 703,203.
Median hourly wage: $18.03
Median home value: $141,900
6. Syracuse, New York, has a population of 662,620.
Median hourly wage: $19.10
Median home value: $135,000
5. Grand Rapids, Michigan, has a population of 988,940.
Median hourly wage: $17.33
Median home value: $194,100
4. Dayton, Ohio, has a population of 799,268.
Median hourly wage: $18.28
Median home value: $124,100
3. Omaha, Nebraska, has a population of 865,347.
Median hourly wage: $18.46
Median home value: $177,200
2. Des Moines, Iowa, has a population of 569,632.
Median hourly wage: $19.69
Median home value: $188,800
1. Rochester, New York, has a population of 1,079,697.
Median hourly wage: $18.86
Median home value: $146,600