The top 30 US cities where millennials are looking at buying homes right now

Advertisement
The top 30 US cities where millennials are looking at buying homes right now
starter house

ucpage/Getty Images

Advertisement

Millennials are finally looking to buy homes.

Millennials are expected to drive the US housing market in 2020.

But where exactly are they looking to put down their roots? Look no further for an answer than LendingTree's most recent report, which ranked the most popular cities for millennial homebuyers.

It analyzed 2019 LendingTree data on mortgage requests and offers for borrowers aged 23 to 38 across the 50 largest US metro areas, as well as requests from the total population of mortgage seekers.

Advertisement

It then ranked the cities based on the percentage of total homebuying requests LendingTree received from millennial borrowers. Note that this indicates millennials who inquired about a mortgage loan; not all of these millennials actually purchased a home.

Of the top 10 most popular cities, most are located in the north and midwest, with one in the south and a few out west.

Below, see the top 30 most popular cities where at least half of those looking to buy homes are millennials.

Generation Z from Business Insider Intelligence

{{}}

30. Portland, Oregon: 50.1% of homebuying requests were made by millennials.

30. Portland, Oregon: 50.1% of homebuying requests were made by millennials.

Average down payment: $44,110

Average requested loan amount: $282,779

29. Louisville, Kentucky: 50.5% of homebuying requests were made by millennials.

29. Louisville, Kentucky: 50.5% of homebuying requests were made by millennials.

Average down payment: $20,955

Average requested loan amount: $156,768

Advertisement

28. Oklahoma City, Oklahoma: 50.6% of homebuying requests were made by millennials.

28. Oklahoma City, Oklahoma: 50.6% of homebuying requests were made by millennials.

Average down payment: $21,067

Average requested loan amount: $158,874

T27. Dallas, Texas: 51.1% of homebuying requests were made by millennials.

T27. Dallas, Texas: 51.1% of homebuying requests were made by millennials.

Average down payment: $31,102

Average requested loan amount: $217,331

Advertisement

T27. Nashville, Tennessee: 51.1% of homebuying requests were made by millennials.

T27. Nashville, Tennessee: 51.1% of homebuying requests were made by millennials.

Average down payment: $33,358

Average requested loan amount: $226,921

T25. Columbus, Ohio: 51.2% of homebuying requests were made by millennials.

T25. Columbus, Ohio: 51.2% of homebuying requests were made by millennials.

Average down payment: $25,556

Average requested loan amount: $172,571

Advertisement

T25. Richmond, Virginia: 51.2% of homebuying requests were made by millennials.

T25. Richmond, Virginia: 51.2% of homebuying requests were made by millennials.

Average down payment: $27,663

Average requested loan amount: $207,891

T23. Houston, Texas: 51.5% of homebuying requests were made by millennials.

T23. Houston, Texas: 51.5% of homebuying requests were made by millennials.

Average down payment: $30,399

Average requested loan amount: $207,343

Advertisement

T23. Indianapolis, Indiana: 51.5% of homebuying requests were made by millennials.

T23. Indianapolis, Indiana: 51.5% of homebuying requests were made by millennials.

Average down payment: $22,422

Average requested loan amount: $163,752

21. New York, New York: 51.8% of homebuying requests were made by millennials.

21. New York, New York: 51.8% of homebuying requests were made by millennials.

Average down payment: $69,490

Average requested loan amount: $353,801

Advertisement

20. Washington DC: 20.8% of homebuying requests were made by millennials.

20. Washington DC: 20.8% of homebuying requests were made by millennials.

Average down payment: $51,192

Average requested loan amount: $336,290

19. San Francisco, California: 52.1% of homebuying requests were made by millennials.

19. San Francisco, California: 52.1% of homebuying requests were made by millennials.

Average down payment: $139,071

Average requested loan amount: $613,407

Advertisement

T18. Seattle, Washington: 52.6% of homebuying requests were made by millennials.

T18. Seattle, Washington: 52.6% of homebuying requests were made by millennials.

Average down payment: $63,723

Average requested loan amount: $374,810

T18. Hartford, Connecticut: 52.6% of homebuying requests were made by millennials.

T18. Hartford, Connecticut: 52.6% of homebuying requests were made by millennials.

Average down payment: $28,002

Average requested loan amount: $189,284

Advertisement

T18. Cincinnati, Ohio: 52.6% of homebuying requests were made by millennials.

T18. Cincinnati, Ohio: 52.6% of homebuying requests were made by millennials.

Average down payment: $21,979

Average requested loan amount: $155,775

15. Boston, Massachusetts: 52.7% of homebuying requests were made by millennials.

15. Boston, Massachusetts: 52.7% of homebuying requests were made by millennials.

Average down payment: $62,335

Average requested loan amount: $349,871

Advertisement

14. Kansas City, Missouri: 52.8% of homebuying requests were made by millennials.

14. Kansas City, Missouri: 52.8% of homebuying requests were made by millennials.

Average down payment: $30,514

Average requested loan amount: $167,005

13. Chicago, Illinois: 52.9% of homebuying requests were made by millennials.

13. Chicago, Illinois: 52.9% of homebuying requests were made by millennials.

Average down payment: $33,612

Average requested loan amount: $213,433

Advertisement

12. Cleveland, Ohio: 53% of homebuying requests were made by millennials.

12. Cleveland, Ohio: 53% of homebuying requests were made by millennials.

Average down payment: $19,769

Average requested loan amount: $137,775

11. Philadelphia, Pennsylvania: 53.5% of homebuying requests were made by millennials.

11. Philadelphia, Pennsylvania: 53.5% of homebuying requests were made by millennials.

Average down payment: $32,124

Average requested loan amount: $200,803

Advertisement

10. Detroit, Michigan: 53.7% of homebuying requests were made by millennials.

10. Detroit, Michigan: 53.7% of homebuying requests were made by millennials.

Average down payment: $23,846

Average requested loan amount: $156,582

T9. St. Louis, Missouri: 53.8% of homebuying requests were made by millennials.

T9. St. Louis, Missouri: 53.8% of homebuying requests were made by millennials.

Average down payment: $20,507

Average requested loan amount: $152,258

Advertisement

T9. Austin, Texas: 53.8% of homebuying requests were made by millennials.

T9. Austin, Texas: 53.8% of homebuying requests were made by millennials.

Average down payment: $40,571

Average requested loan amount: $252,590

7. Milwaukee, Wisconsin: 54.3% of homebuying requests were made by millennials.

7. Milwaukee, Wisconsin: 54.3% of homebuying requests were made by millennials.

Average down payment: $25,700

Average requested loan amount: $177,412

Advertisement

6. Pittsburgh, Pennsylvania: 54.5% of homebuying requests were made by millennials.

6. Pittsburgh, Pennsylvania: 54.5% of homebuying requests were made by millennials.

Average down payment: $21,663

Average requested loan amount: $144,414

5. Salt Lake City, Utah: 54.9% of homebuying requests were made by millennials.

5. Salt Lake City, Utah: 54.9% of homebuying requests were made by millennials.

Average down payment: $39,071

Average requested loan amount: $264,275

Advertisement

4. Denver, Colorado: 55.3% of homebuying requests were made by millennials.

4. Denver, Colorado: 55.3% of homebuying requests were made by millennials.

Average down payment: $49,361

Average requested loan amount: $316,524

3. San Jose, California: 55.8% of homebuying requests were made by millennials.

3. San Jose, California: 55.8% of homebuying requests were made by millennials.

Average down payment: $148,098

Average requested loan amount: $637,201

Advertisement

2. Buffalo, New York: 56.1% of homebuying requests were made by millennials.

2. Buffalo, New York: 56.1% of homebuying requests were made by millennials.

Average down payment: $20,777

Average requested loan amount: $137,739

1. Minneapolis, Minnesota: 56.2% of homebuying requests were made by millennials.

1. Minneapolis, Minnesota: 56.2% of homebuying requests were made by millennials.

Average down payment: $31,812

Average requested loan amount: $219,590

Advertisement
Next StoryI spent 3 days in the most expensive ski town in the US, where a lift ticket costs $184 a day - and I was surprised to find that not everything there catered to the 1%