Grand Rapids-Wyoming Has Second Highest Home Ownership Among Millennials
As the oldest millennials are entering their mid-30’s they find themselves front & center in the U.S. housing market due to being the largest living generation of adults in America, today. But, are they finally moving from being predominately renters to homeowners? A recent study from apartment rental site ABODO looks at their buying patterns to see where they’re actually buying homes and where they’re not, as well as other interesting factors; data about this shape-shifting generation.
The study found that Grand Rapids-Wyoming, Michigan millennials have the second highest home ownership rate in the entire U.S. at 45.3%—second only to Ogden-Clearfield, Utah at 51%. Many Grand Rapids area millennials are also entering the market as house hackers (i.e. buying a duplex or multi-unit and living in one of the units as their primary residence).
For more on the study, go here.