DataMarkets & Economy

D.C. a top metro for millennial homebuyers

National Association of Realtors released the top 10 metros for millennials looking to buy a home
  • National Association of Realtors ranked Washington D.C. as one of the best metros for homebuying millennials.
  • As of 2014, 28 percent of the incoming D.C. population was comprised of millennials.
  • Austin, Charleston, Portland and Seattle also ranked in the top 10.

You hear it time and time again: Millennials aren't buying homes. But it might just depend on the city that you cover. The National Association of Realtors recently released a list of the best cities for millennials to buy a home among the nation's 100 largest metro areas, and Washington D.C was at the top of the list. Making the list among the likes of Austin, Charleston, Denver, Portland and Seattle, the nation's capital ranked highly for its steady job growth and lower qualifying incomes. “Even with potentially higher incomes, prospective millennial homebuyers residing in some of the most expensive cities in the country face the onerous task of paying steep rents while trying to save for an adequate down payment,” NAR Chief Economist Lawrence Yun said. “However, for those currently living in or looking to move to a more affordable part of the country, there are metro areas right now with solid job growth and that offer a smoother path to homeownership.” To ...