If you look at the latest data, Millennials homebuyers aren’t flocking to the big cities or urban centers like most would assume. They’re heading to the outliers — smaller, more suburban towns where a slightly longer commute means more affordable housing, safer streets and a lower cost of living.
In fact, according to the Ellie Mae Millennial Tracker, the top cities among Millennial buyers last month were Indiana, Pennsylvania (about an hour from Pittsburgh); Bay City, Michigan (not far from Flint); and Watertown, South Dakota (1.5 hours from Sioux Falls).
Porch.com found that Millennials are moving increasingly toward “18-hour” cities — places that aren’t 24-7 like New York or Los Angeles but still offer nightlife, job opportunities and plenty of big-city amenities. Some of these include Greensboro, North Carolina; Saint Paul, Minnesota; Milwaukee; Detroit; and Aurora, Colorado. All five have an average new resident age of 24 or younger.
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