As millennials age, it’s not a question of whether they will settle down. It’s a question of where.
After all, the generation long chided as eternal renters is finally buying houses of its own. Of all the homebuyers in the U.S., more than a third were millennials in 2017, according to a study by the National Association of Realtors (NAR).
But they aren’t buying in the cities they’ve called home for over a decade. While millennials still prefer to rent in urban centers, those who want to own a home are packing their bags and moving — largely to the suburbs — when the time comes, according to an NAR report.
A couple strolls through downtown Rogers, Ark.
Courtesy of the Rogers-Lowell Area Chamber of Commerce
It’s not lifestyle choice that’s driving buyers from big cities, says Susan Wachter, a professor of real estate at the Wharton School of the University of Pennsylvania. It’s a matter of affordability.
“You can’t necessarily become a homeowner and live in Manhattan,” she says. “Millennials, in general, are moving where they still have the ability to buy.”
Whether you’re a millennial in the market for the first time or just looking for a thriving spot to resettle your family, MONEY wants to help. The top 10 list follows; or