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City millennials heading for the suburbs, says NREI

by Alison McAvoy

2017-home-buyer-realtor.com-millennials-survey

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.

As a result, these areas are scrambling to build new housing and businesses are seeking to add job growth and attract the eyes — and wallets — of millennials. “You’re starting to see the nature of the workplace in the suburbs starting to change and adapt,” John Chang, vice president of research services at brokerage firm Marcus & Millichap, said to NREI.

Check out the top 10 cities with attractive suburban areas for millennials:

  1. Las Vegas
  2. Charlotte, North Carolina
  3. Atlanta
  4. Orlando, Florida
  5. San Antonio
  6. Raleigh/Durham, North Carolina
  7. Phoenix
  8. Sacramento, California
  9. Houston
  10. Jacksonville, Florida

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