Evansville Ranks Top 10 Nationally for Millennial Home Owners!
Evansville has been nationally recognized for being affordable, and it's being recognized again as a place that ranks among the top in the nation for the most millennial home buyers.
Before we start off, a millennial is classified as someone born between 1981-1996. So currently millennials are aged anywhere between 22 & 36.
According to Realtor.com millennials purchased 36% of the homes sold last year, which is the highest percent of any generational group last year. However they noticed a trend, millennials aren't settling down in bigger cities, instead they're opting for more affordable options. That's one of the many reasons Evansville ranked in the top 10!
Evansville came in at number 10, for being one of the top cities for millennials purchasing houses! According to Realtor.com in Evansville last year, the median home price was $170,800 and 55.2% of mortgages issued in Evansville last year were to millennials.
You can read the full article and find out which other cities in the US rounded out the Top 10 in the country, here!
Here's what the article from Realtor.com has to say about Evansville coming in at number 10:
Evansville is located right on the banks of the Ohio River in southern Indiana. The downtown is full of single-family homes that date back about 100 years, many with views of the river that weaves through the region. There are plenty of new or newly remodeled homes, too, with the open designs that millennial buyers crave.
The strong economy has put cash in the hands of younger folks here. The region is the headquarters for companies like Accuride Corporation, a vehicle components supplier, and Berry Global, a Fortune 500 plastic packaging maker.
"Evansville is a very affordable city," says local real estate agent Trae Dauby of Keller Williams Capital Realty. "The bulk of our buyers right now are first-time home buyers, probably between the ages of 22 and 35."
They're typically local couples scooping up two- and three-bedroom houses on the suburban outskirts of the city, he says.
Buyers with some cash left over can head over to the Tropicana Evansville, a 45,000-square-foot casino in downtown. And sports fans can root for one of the local teams, like the Evansville Thunderbolts, a minor league hockey team, or the city's minor league baseball team. Go, Otters! (source)