Millennials are increasingly relocating to southern metro areas with job growth and affordable housing. This trend is evident as they move away from expensive cities like New York and Los Angeles.
Despite facing economic challenges, the rate of millennial homeownership has grown from 48% in 2020 to 52% in 2024, reflecting a shift in housing opportunity.
Millennials are now more likely to live with their parents than previous generations, affecting their mobility and timelines for homeownership.
The majority of the 25 cities attracting millennial populations are in the South, showcasing a significant trend in migration towards more affordable living conditions.
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