As millennials become a dominant force in the U.S. housing market, real estate agents have identified the suburbs where this generation is choosing to plant roots. Millennials now make up 38% of homebuyers, surpassing baby boomers in the market. The most important factors for them are affordability and proximity to urban centers.
Decatur, Georgia Sandy Springs, a suburb near Atlanta, ranked as one of the top choices for millennials in a 2023 report by SmartAsset. However, housing prices in Sandy Springs and neighboring Marietta can be steep, with average home values reaching into the $600,000s and $500,000s, respectively. For millennials seeking affordability, Decatur, another Atlanta suburb, offers an appealing mix of old-school charm and modern amenities at a median home value of just under $300,000. Decatur provides access to city life without the cost of living in Atlanta itself.
Lakewood and Thornton, Colorado Denver has long been a hotspot for millennial buyers, but rising costs within the city have driven many to seek homes in surrounding areas. Suburbs like Lakewood and Thornton remain more affordable compared to the city center. In Thornton, homes are typically priced in the $480,000s, while Lakewood offers options starting around $300,000. Both suburbs appeal to those drawn to Colorado’s outdoor lifestyle, with easy access to the mountains and downtown Denver.
Eagan and Woodbury, Minnesota Minnesota’s Twin Cities, Minneapolis and St. Paul, have experienced urban growth in recent years, but suburbs like Eagan and Woodbury offer a quieter, more affordable alternative. These areas, known for their parks and sense of community, are ideal for young families. In Woodbury, many neighborhoods have home values under $280,000, with some even lower. Eagan also offers a range of homes priced in the $300,000s.
Bexley, Ohio In Ohio, millennials have flocked to the Columbus metro area, which offers big-city benefits and Midwest charm. Nearby Bexley stands out for its relatively low housing prices and appeal to young families. Neighborhoods like Eastgate, Eastmoore, and Broadleigh have homes in the $200,000 range, with some even more affordable areas priced in the $100,000s.
Millennials are reshaping the suburban housing market, opting for affordability, proximity to urban centers, and community-focused neighborhoods as they establish their roots across the country.
