Home >> Daily Dose >> Which Markets Are Attracting Younger Homeowners?
Print This Post Print This Post

Which Markets Are Attracting Younger Homeowners?

Realtor.com found that Provo, Utah, is the youngest city in America with an average age of 24.7-years-old, despite having the highest average-home price—$305,000—of any market on the list. 

Despite the cost of housing, a 2017 report from the Department of Housing and Urban Development said that Provo has added 13,000 residents annually since 2010.

Aside from Brigham Young University and Utah Valley University, the report states that the construction of many schools are underway to keep up with the growing number of children in the metro, 

Realtor.com states there are approximately 170,000 households in the metro, but one-fifth of the area’s population is comprised of BYU and UVU students. 

“The market is tough to find houses that are close to university that are for sale," says Provo real estate agent William Stelzer. "The competition is gigantic."

Stillwater, Oklahoma, came in at No. 2 with an average age of 26.6 and a median-home price of $195,000. 

Another college town, Stillwater is the home of Oklahoma State University and its 25,000 students. 

“A lot of people stay here, get jobs here, get married, and buy houses. If they can make it work, they will,” Stillwater agent Cheryl Carpenter Martin said. 

Other markets on the list include: Jacksonville, North Carolina; Manhattan, Kansas; Ames, Iowa; College Station, Texas; Mount Pleasant, Michigan; Athens, Ohio; Statesboro, Georgia; and Lafayette, Indiana. 

Mount Pleasant had the lowest-average home price at $161,500, and had an average age of 28.1-years-old. Like many markets on the list, Mount Pleasant is home to Central Michigan University and its 20,000 students. 

“It’s a small town with some big-town amenities,” said local agent Tricia Boerma. “It’s not unusual for CMU graduates to fall in love with the place and stay, she says. It happened to her … I just like the town, the location, the vicinity in Michigan,” she says. “You can get anywhere (in the state), and it’s just a nice place.” Lansing is about an hour away. 

About Author: Mike Albanese

A graduate of the University of Alabama, Mike Albanese has worked for news publications since 2011 in Texas and Colorado. He has built a portfolio of more than 1,000 articles, covering city government, police and crime, business, sports, and is experienced in crafting engaging features and enterprise pieces. He spent time as the sports editor for the "Pilot Point Post-Signal," and has covered the DFW Metroplex for several years. He has also assisted with sports coverage and editing duties with the "Dallas Morning News" and "Denton Record-Chronicle" over the past several years.
x

Check Also

Eye on the Industry: Digital Lender Announces New COO

Additional reports on Eye on the Industry include a mortgage servicer aiming to grow its technological integration and an industry veteran was named to lead loanDepot’s newest branch.

GET THE NEWS YOU NEED, WHEN YOU NEED IT.

With daily content from MReport, you’ll never miss another important headline in originations, lending, or servicing. Subscribe to MDaily to begin receiving a complimentary daily email containing the top mortgage news and market information.