Possible Cities Where Young Adults Can Afford To Buy Homes

Property Management and Maintenance

Possible Cities Where Young Adults Can Afford To Buy Homes

While everyone needs an affordable yet a classy home, the millennials top the group of people who are actively looking for affordable homes. But the sole question is, where can Generation Y get cheap homes for sale? Of course, a buyer’s market would be on their favor. Unfortunately, there are little or no such markets out there unless in the cities which sprung up because of the manufacturing industries that might have reached their optimum level of expansion.

The world is in the period of millennial migration when the young adults from colleges are expected to overtake Gen X as the largest group of home buyers. As one of these group of individuals looking for an affordable home, it’s good to seek advice from the best property manager.Property managers as well as agents know the dynamics of the industry and they can link you to good sellers.

“Success is the sum of small efforts, repeated day-in and day-out.” ~Robert Collier

Advice for the Millennials

The best place a millennial can think when it comes to finding a less costly house is a place which is a home of the $99.00 property management fee. Most property management companies regardless of where they operate, offer their services at affordable prices. The young generation can take advantage of these companies by finding with them all the information they need regarding a place where they can get affordable homes for sale.

Top Housing Markets for the Millennials

With solid and credible stats, top 10 property management companies can give millennials a list of cities where they can get affordable homes to buy. In NYC, Boston and Miami, less than 60% of the homes for sale in most of the MLS sites in 2014 were affordable for young adults (typical 23- to 34-year-olds). These stats were determined by taking the median income of millennials in each metropolitan area. It was assumed that they put 5% down and spend 30% of their monthly incomes paying off mortgages.

The Cost of Housing across the Nation

From Zillow stats, it can be seen that only a quarter of homes in Honolulu and Los Angeles were affordable. Prices have been continuously rising from year-to-year even in smaller CA metropolitan areas such as Fresno and Modesto. In these metros, more than 60% of homes for sale cannot be afforded by the young adults. Just as the best property manager in WA will tell you, with stable home prices across the nation, it would be easier for millennials to purchase homes. This is backed by the loose lending conditions and high wages.

A worry less property Management Company will give an individual all he/she needs when searching for a home to buy in any part of the nation. Cities like LA are tough markets for young people because of low wages and highly priced homes for sale. Places where income growth has been dragging while home prices have been rising up steadily mainly because of tech jobs are not great markets for the millennials.

Would you like to share?Share on FacebookShare on Google+Tweet about this on TwitterShare on TumblrPin on PinterestShare on LinkedIn

Comments are closed.

Rent Lucky

Call RentLucky Today


202 S 348th St Suite #1 Federal Way, WA 98003
Phone: (206) 414-7203