What’s Trending? Millennial Homebuyers Are Eyeing These Locations

Millennials are out in full force looking to purchase homes as they build their careers and begin having children—but where are they going? A new LendingTree report looked at new purchase mortgage requests made on its website between Jan. 1, 2018 and Nov. 25, 2018 to determine where the majority of millennials are pursuing homeownership. Among the nation's largest metro areas, here's where they're landing, as well as the cities they're avoiding.

These are the top 10 cities among millennial homebuyers:

1. Salt Lake City, Utah
2. Minneapolis, Minn.
3. Pittsburgh, Pa.
4. Buffalo, N.Y.
5. Denver, Colo.
6. St. Louis, Mo.
7. Kansas City, Mo.
8. Columbus, Ohio
9. Rochester, N.Y.
10. Cincinnati, Ohio

Here are the least popular cities among millennial homebuyers:

1. Tampa, Fla.
2. Las Vegas, Nev.
3. Miami, Fla.
4. Orlando, Fla.
5. San Diego, Calif.
6. Sacramento, Calif.
7. Jacksonville, Fla.
8. New York, N.Y.
9. Riverside, Calif.
10. Atlanta, Ga.

The key findings? The majority of purchase requests by millennials occurred in the Salt Lake City, Minneapolis and Pittsburgh metros. Meanwhile, Tampa and Miami, Fla., as well as Las Vegas, had the least amount of purchase requests by this demographic.

And where are millennials delaying homeownership? San Francisco and San Jose, Calif., and New York had the longest wait times for millennials purchasing homes. On average, millennials buy at age 29.6 in these locations, compared to the average age of 28.7 across the remaining 47 largest U.S. metros.

For more information, please visit www.lendingtree.com.