Top Cities for Millennials Looking to Buy a Home

The dream of homeownership can feel out of reach for many millennials. However, certain cities offer better opportunities than others in this competitive market.

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Zoocasa, using data from Apartment List, analyzed various cities to find the best locations for millennials seeking homeownership. The findings revealed that successful markets often share characteristics: affordable home prices below the national median, average monthly mortgage payments at or below $2,000, and stable home price growth over the past year.

Continue reading to find out which cities came out on top for aspiring millennial homeowners.

1. Minneapolis, Minnesota

• Millennial homeownership rate: 53%
• Median home price: $398,300
• 1-year price growth: 3%
• Average monthly mortgage payment: $2,060

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2. Grand Rapids, Michigan

• Millennial homeownership rate: 53%
• Median home price: $347,200
• 1-year price growth: 5%
• Average monthly mortgage payment: $1,796

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3. Cincinnati, Ohio

• Millennial homeownership rate: 52%
• Median home price: $309,200
• 1-year price growth: 5%
• Average monthly mortgage payment: $1,599

4. Louisville, Kentucky

• Millennial homeownership rate: 51%
• Median home price: $283,100
• 1-year price growth: 5%
• Average monthly mortgage payment: $1,464

5. Indianapolis, Indiana

• Millennial homeownership rate: 51%
• Median home price: $329,700
• 1-year price growth: 6%
• Average monthly mortgage payment: $1,705

Read More: 5 Housing Markets Facing Declines Before the End of 2025

6. St. Louis, Missouri

• Millennial homeownership rate: 50%
• Median home price: $279,900
• 1-year price growth: 5%
• Average monthly mortgage payment: $1,447

7. Pittsburgh, Pennsylvania

• Millennial homeownership rate: 50%
• Median home price: $236,100
• 1-year price growth: 5%
• Average monthly mortgage payment: $1,221

8. Birmingham, Alabama

• Millennial homeownership rate: 50%
• Median home price: $324,300
• 1-year price growth: 3%
• Average monthly mortgage payment: $1,677

Read Next: 10 Housing Markets Gaining Popularity as Interest Rates Decline

9. Kansas City, Missouri

• Millennial homeownership rate: 48%
• Median home price: $346,600
• 1-year price growth: 4%
• Average monthly mortgage payment: $1,792

10. Salt Lake City, Utah

• Millennial homeownership rate: 48%
• Median home price: $583,200
• 1-year price growth: 7%
• Average monthly mortgage payment: $3,016

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This article originally appeared on GOBankingRates.com:
10 Best Cities for Aspiring Millennial Homeowners

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