The 10 US cities where the most 20-somethings are buying homes
Flickr / Robbie Shade
According to a new study released by online loan marketplace LendingTree, more young people are pursuing home ownership.
"The under-35 crowd had been, for some years, hesitant to enter the housing market, but we're seeing that start to shift," said Doug Lebda, CEO of LendingTree, in a press release. "The data all points to the fact that millennials are increasingly eager to own rather than rent, and even the incredibly high real estate prices in some markets don't necessarily deter them."
Case in point: Boston, one of the priciest cities to buy a home, topped LendingTree's ranking, which was created by looking at the percentage of home-loan requests being made by people under 35 in 59 major US cities.
Here, we've highlighted the cities that cracked the top 10, the average age of these young buyers, and the average down payment and monthly payment they're making, all from LendingTree.
Google Maps10. Rochester, New York
Average age of buyer: 30
Average down payment: $24,600
Average monthly payment: $790
Percentage of mortgage requests from borrowers under 35: 44.5%
Google Maps
9. Omaha, Nebraska
Average age of buyer: 28
Average down payment: $21,400
Average monthly payment: $1,030
Percentage of mortgage requests from borrowers under 35: 44.6%
Google Maps
8. Milwaukee, Wisconsin
Average age of buyer: 29
Average down payment: $22,500
Average monthly payment: $960
Percentage of mortgage requests from borrowers under 35: 45.1%
See the rest of the story at Business Insider