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.
Atlanta took the no. 3 spot on NREI’s top 10 list of best suburban areas to live as a millennial. As of 2016, 20.4 percent of Atlanta’s suburban population was comprised of individuals under 30 years of age. An anticipated 7.4 percent jump in millennial homeownership is expected over the next several years, thanks to Atlanta’s ever-growing employment market and increasing apartment development in its suburbs.
Check out the top 10 cities with attractive suburban areas for millennials:
- Las Vegas
- Charlotte, North Carolina
- Orlando, Florida
- San Antonio
- Raleigh/Durham, North Carolina
- Sacramento, California
- Jacksonville, Florida