This year is being dubbed the year that millennials will break into housing, and what better place for them to do that than in the nation’s capital, which is home to the highest percentage of millennials, according to an article in Fusion.
Arlington, Virginia, now has the highest percentage of millennials among all U.S. cities, at 40%. The Washington, D.C. suburb saw the share of its residents born between 1977 and 1992 climb 78% from 2007 to 2013, the article said.
This does come with its challenges though.
“First-time buyers…are stuck between a rock and a hard place in today’s housing market: many of the markets with the jobs and amenities they want have hard-to-afford rents and even harder-to-afford home prices; while the more affordable markets have fewer well-paying jobs and tend to be off the beaten path,” said Daren Blomquist, vice president at RealtyTrac.
Other top areas of choice include Denver, Manhattan and San Francisco.