The 10 best cities for young people to buy a home
Owning a home doesn't have to be a far-off dream, even if you're still in your 20s.
In a recent report, Credit Karma determined the 10 most affordable US cities for millennials (ages 18 to 34) to buy a home. The report estimated the average number of months it would take to pay off a mortgage by analyzing the median income of young people and the average size of open mortgages in the 100 largest US cities, among other factors.
Buffalo, New York secured the top spot, where it will take young people about 107 months (nine years) to pay off their mortgage. Compare that to Los Angeles, where it could take as many as 534.2 months, or 44.5 years.
Read on to see the full list, plus median home values from the Census Bureau's 2014 American Community Survey:
- I got a $40K raise using this 30-second strategy. It made me realize loud work, not hard work, always wins.
- Qatar Airways' new CEO explains why it's sticking with the Airbus A380 as other airlines retire the costly superjumbo
- Prince Harry and Meghan found out about Kate Middleton's cancer diagnosis on TV like everyone else, report says
- Kia India looks to expand sales, service network to 700 touchpoints by year-end
- Shapoorji Pallonji’s Afcons Infra files DRHP for ₹7,000 crore IPO
- Water crisis affects businesses across Bengaluru; Is there room for cautious optimism?
- BenQ Zowie EC2-CW review – Premium wireless mouse for gamers
- Banks' GNPAs set to improve further to 2.1 pc by FY25: Care Ratings