Grand Rapids is One of the Top Places for Millennial Home Buyers
“Grand Rapids has the highest millennial homeownership rate in the U.S.,” according to the article Grand Rapids is No. 1 City got Millennial Homeowners by Ehren Wynder.
The Grand Rapids-Wyoming area is where 56.8% of millennials own a home according to a report by Porch.
While it is less common for millennials to own a home, the “Midwest claims the highest rates of millennial homeownership."
Here is some data from the Grand Rapids is No. 1 City got Millennial Homeowners article:
Summary of data for the Grand Rapids-Wyoming metro:
Millennial homeownership rate: 56.8% (39.5% nationally)
Median home price: $227,246 ($251,598 nationally)
Monthly mortgage payment: $806 ($893 nationally)
Median earnings for full-time millennials: $40,000
Cost of living (compared to national average): 8% below average
With affordable living, good school district options, employment growth and downtown life, West Michigan makes a great home for a millennial who is looking to start a family, have a career and maintain a social life.
For information on selling or buying a home visit https://www.lucashowardgroup.com.