Most Affordable Housing Markets for Millennials
If the millennial generation is the future of a sustained real estate recovery, those local markets that are actually most affordable while still being attractive to this generation are likely where the most unimpeded housing growth will occur.
Markets in the southeast and Midwest dominated the list of the Top 15 most affordable housing markets for millennials to buy, according to a RealtyTrac analysis (see full methodology below). Two counties in Georgia made the list, led by Richmond County in the Augusta-Richmond County metro area at No. 1. Despite a below-national-average estimated median income of $37,561 in Richmond County, a relatively low median home price of just $64,100 translated into less than 11 percent of median income spent on a house payment for a median priced home. Other states with two counties making the list of most affordable for buying were Maryland, North Carolina, Nebraska and Tennessee.
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