Pursuits
Millennial Homebuyers Choose Suburbs as Urban U.S. Prices Climb
- Share of young people buying in downtowns fell to 17% from 21%
- Typical millennial homebuyer paid $187,400 for a residence
Are Millennials Financially Screwed?
This article is for subscribers only.
Cities may be the top choice for millennials who rent apartments, but young homebuyers are moving in droves to the suburbs, where prices are lower and backyards are plentiful.
The share of people 35 or younger who are buying homes in urban areas fell to 17 percent from 21 percent in a 2014 survey, according to a National Association of Realtors study released Wednesday.