Youngstown Real Estate

Millennial Home Buyers Love Youngstown

For the last several years, millennials have been the largest demographic in the housing market, accounting for 34% of home buyers in 2017; it's no surprise then that tracking their influence has become a point of great interest among industry organizations such as LendingTree. The online loan marketplace recently sought to quantify which cities attracted the largest proportion of millennial buyers. They found that Youngstown ranked as one of the ten most popular housing markets for millennial buyers, with 38.6% of its mortgage requests coming from the young group!

Youngstown Ranked A Top 5 City for First-Time Home Buyers

As dwindling inventory continues to push home prices to greater and greater highs, many urban housing markets have risen completely out of reach of the typical home buyer. In no segment is this effect felt more profoundly than among first-time buyers, who lack the financial boon of having sold a previous house to pay for a new abode. Enter LendingTree, which sought to rank the nation's 100 largest cities according to several factors related to housing affordability. They found that Youngstown ranked as the fourth-most affordable city in the United States for first-time home buyers!

Youngstown Remains Nation's Most Affordable Major Housing Market

According to the National Association of Home Builders, the Youngstown-Warren-Boardman housing market was the most affordable in the nation in the first quarter of 2017! Almost 93% of homes sold during that time were affordable to families earning the area’s median income of $54,600. Which areas were the least affordable? I'll give you a hint: the bottom five were all in California.