Millennials Buy Homes in Warren

Millennials are buying homes in Warren and defying economic trends that say millennials don’t purchase homes. Low incomes and student debt are just a few reasons why millennials have a difficult time with home ownership, but recent studies find that millennials are buying in certain parts of the country. The Smart Asset group made a list of the top 25 cities where millennials are buying homes, and Warren, Michigan tied with Garland, Texas for the number three spot. This is great news, showing that Warren is a city where anyone can buy a home without too much capital. The median home in Warren is worth $124,700, which means a down payment is only $25,000. Data shows millennial homeownership of 46.6%, up from 41.3% in 2008. The number two city on the list is Elk Grove, California and the number one city is Chesapeake, Virginia.