Young homeowners are increasingly gravitating towards the Midwest, where housing costs are significantly lower compared to major coastal cities. Most Midwest cities feature median home prices ranging from $200,000 to $275,000, compared to a national median exceeding $400,000. This price gap allows for reduced monthly housing expenses by 30% to 50%, alongside lower property taxes and insurance. Consequently, the Midwest now hosts seven of the ten most accessible metros for young buyers, with cities like Omaha, Grand Rapids, and Des Moines leading in rates of ownership among individuals under 35.
Younger generations are looking to the Midwest for homeownership due to the region's significantly lower housing costs compared to major coastal cities.
Many Midwest metros have median home prices well below the national average, while also offering a lower cost of living.
Seven out of the 10 most accessible metros for young homeowners are in the Midwest, including Omaha, Grand Rapids, and Des Moines.
Median home prices in many Midwest cities hover around $200,000 to $275,000, while the national median has crossed $400,000.
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