Elk Grove Ranks Second in the Country for Millenial Homebuyers

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Elk Grove Ranks Second in the Country for Millenial Homebuyers

Posted: 01/11/2017

Are you 35 or younger and looking to own your own home? Then Elk Grove may be the place for you. In its second annual study, SmartAsset has determined where millennials are buying homes, and Elk Grove ranked second in the country behind Sioux Falls, South Dakota.

The study commissioned by SmartAsset, an online financial resource site, ranked 200 cities according to the under-35 homeownership rate in 2015 and the change in in the under-35 rate between 2006 and 2015. The data came from the U.S. Census Bureau’s 2015 and 2006 1-Year American Community Surveys.

Elk Grove had the highest rate of millennial homeownership in 2015 at 60.8%. For comparison, that number can drop as low as 11% in places like Orlando, Florida or Cleveland, Ohio.

Elk Grove's affordability combined with its quality of life features make it an attractive option for many young homebuyers. With nearly 100 parks, an award-winning school system, and low crime rates, Elk Grove is a great place to live and raise a family. The median value of a home in Elk Grove is $350,300.

Other California cities ranked in the top five included Roseville (#4) and Bakersfield (#3).

Details on the study, including full methodology and rankings, can be found here: https://smartasset.com/mortgage/where-are-millennials-buying-homes-2017-edition.

Millenial Homebuying Map

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