New Study Shows ‘Best States for Millennials’

Real Estate

A new study by WalletHub used “30 key metrics, ranging from share of millennials to millennial unemployment rate to millennial voter-turnout rate” to find out which states are the ‘Best States for Millennials.’

The Top 5 Best States for Millennials are:
Washington, D.C. (also ranks highest in percentage of millennials already living there!)
North Dakota (lowest unemployment rate)
Minnesota (highest millennial homeownership rate)
Massachusetts (highest percentage of millennials with health insurance coverage)
Iowa (ranked #1 in lowest housing cost for millennials)

Below is a map with the rankings for each of the 50 states:
20180425-STM-ENG

We recently reported on a study that set out to find out “How Much You Need to Make to Buy a Home in Your State,” which may have left you wondering what the average salaries are in each of the five states listed above.

According to WalletHub’s research, the top 5 states with the Highest Average Millennial Salaries are:
Washington, D.C.
New York
Massachusetts
Washington
California

Every day, more and more millennials are aging into the ‘Responsibility Zone,’ the time in their lives when their responsibilities start to dictate their behaviors. For many, this includes buying a home.

The top 5 states with the Highest Millennial Homeownership Rate are:
Minnesota
West Virginia
Indiana
Utah
Delaware

 

Bottom Line
If owning a home is next on your list, let’s get together to answer any questions you may have and set you on the path to homeownership!