Editor's Note: This story originally appeared on Filterbuy.
Over the last year and a half, one of the dominant stories in the U.S. economy has been the steep increase in the cost of homes in a highly competitive market. Earlier this year, the median sales price of a home in the U.S. passed $400,000 for the first time, up by more than 20% from before the COVID-19 pandemic began.
With an unusually low inventory of existing homes for sale throughout the pandemic and new construction struggling to catch up, limited supply has been one of the factors driving these increases.
On the demand side, millions of homebuyers have entered the market, seeking to take advantage of low mortgage rates, increased savings, and strong investment returns during the pandemic.
To determine the locations with the most young homeowners, researchers at Filterbuy calculated the percentage of all owner-occupied households headed by someone under 35 years old.
The data used in this analysis is from the U.S. Census Bureau’s 2019 American Community Survey. In the event of a tie, the location with the greater total number of owner-occupied households headed by someone under 35 was ranked higher.
Here are the cities with the most young homeowners.
15. Boston, MA
Percentage of all homeowners under 35: 13.7%
Total homeowners under 35: 12,924
Total homeowners (all ages): 94,202
Percentage of folks under 35 who own a home: 14.6%
14. Washington, D.C.
Percentage of all homeowners under 35: 13.9%
Total homeowners under 35: 16,759
Total homeowners (all ages): 120,988
Percentage of folks under 35 who own a home: 19.1%
13. Oklahoma City, OK
Percentage of all homeowners under 35: 14.2%
Total homeowners under 35: 20,328
Total homeowners (all ages): 143,591
Percentage of folks under 35 who own a home: 32.1%
12. Milwaukee, WI
Percentage of all homeowners under 35: 14.5%
Total homeowners under 35: 13,480
Total homeowners (all ages): 92,982
Percentage of folks under 35 who own a home: 19.5%
11. Kansas City, MO
Percentage of all homeowners under 35: 14.7%
Total homeowners under 35: 16,318
Total homeowners (all ages): 110,735
Percentage of folks under 35 who own a home: 27.8%
10. Minneapolis, MN
Percentage of all homeowners under 35: 14.9%
Total homeowners under 35: 12,599
Total homeowners (all ages): 84,829
Percentage of folks under 35 who own a home: 20.3%
9. Seattle, WA
Percentage of all homeowners under 35: 15.3%
Total homeowners under 35: 23,075
Total homeowners (all ages): 150,887
Percentage of folks under 35 who own a home: 18.9%
8. Raleigh, NC
Percentage of all homeowners under 35: 15.5%
Total homeowners under 35: 14,897
Total homeowners (all ages): 96,410
Percentage of folks under 35 who own a home: 28.1%
7. Columbus, OH
Percentage of all homeowners under 35: 15.6%
Total homeowners under 35: 26,211
Total homeowners (all ages): 167,715
Percentage of folks under 35 who own a home: 22.3%
6. Bakersfield, CA
Percentage of all homeowners under 35: 15.7%
Total homeowners under 35: 10,872
Total homeowners (all ages): 69,256
Percentage of folks under 35 who own: 39.8%
5. Fort Worth, TX
Percentage of all homeowners under 35: 15.9%
Total homeowners under 35: 28,672
Total homeowners (all ages): 179,783
Percentage of folks under 35 who own a home: 37.2%
4. Aurora, CO
Percentage of all homeowners under 35: 16.2%
Total homeowners under 35: 13,709
Total homeowners (all ages): 84,585
Percentage of folks under 35 who own a home: 42.3%
3. Nashville-Davidson, TN
Percentage of all homeowners under 35: 16.5%
Total homeowners under 35: 24,640
Total homeowners (all ages): 149,072
Percentage of folks under 35 who own a home: 29.0%
2. Denver, CO
Percentage of all homeowners under 35: 16.5%
Total homeowners under 35: 26,201
Total homeowners (all ages): 158,620
Percentage of folks under 35 who own a home: 25.9%
1. Atlanta, GA
Percentage of all homeowners under 35: 17.5%
Total homeowners under 35: 18,274
Total homeowners (all ages): 104,332
Percentage of folks under 35 who own a home: 24.2%
Methodology
The data used in this analysis is from the U.S. Census Bureau’s 2019 American Community Survey. To determine the locations with the most young homeowners, researchers calculated the percentage of all owner-occupied households headed by someone under 35 years old.
In the event of a tie, the location with the greater total number of owner-occupied households headed by someone under 35 was ranked higher.
For the purpose of this analysis, the term homeowner refers to the head (one per household) of an owner-occupied household, as designated by the Census Bureau. To improve relevance, only cities with at least 100,000 residents were included.
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