As millennials get older, they’re trading in their train passes for minivans as they head for the suburbs, this according to National Real Estate Investor’s survey of suburban areas with the best potential for millennial population growth.
Thanks to home prices increasing and limited living space in major cities, suburbs across the nation are expected to see an influx of 20- to 34-year-olds between now and 2021. With an increasing number of young people transitioning out of their early twenties, settling down and landing jobs, suburban real estate markets are preparing for a steady migration of younger buyers looking for good school districts and houses with greater affordability.
Though it didn’t make NREI’s list, Boston’s suburban real estate market is also preparing for an influx of millennials. Come 2018, areas in and around Boston’s metro are expected to receive 11,000 people between the ages of 15 and 34, many of whom will be buying properties rather than renting.
Check out the top 10 cities with attractive suburban areas for millennials:
- Las Vegas
- Charlotte, North Carolina
- Atlanta
- Orlando, Florida
- San Antonio
- Raleigh/Durham, North Carolina
- Phoenix
- Sacramento, California
- Houston
- Jacksonville, Florida
Not a surprise! Millennials are turning 30 and like previous generations, they do not want to live in shoe-box sized apartments forever! The want the things they grew up with – outdoor space, room for kids, pets, garage, good schools, a sense of community, establishing a sense of stability and community. I have lots of Millennial clients who have purchased properties in Sudbury, Wayland, Stow…and they are loving their houses and neighborhoods.