These NC cities are the most popular for millennial homebuyers, report says

Charlotte and Raleigh are among the top cities where millennials are buying homes the fastest.Photo byTown Talks

The South is a favored region for homebuyers, and North Carolina stands out with two cities ranked among the most popular for millennials.

According to a recent report by SmartAsset, Raleigh and Charlotte are top destinations for people aged 25 to 44.

Raleigh-Cary, NC: The Most Popular City for Millennials

• Rank: No. 1
• Percent of Local Millennials Who Purchased a Home in 2022: 6.5%
• Number of Mortgages Originated to Millennials in 2022: 27,859
• Total Number of Local Millennials: 428,846
• Percent of Total Population Aged 25-44: 28.9%
• Median Interest Rate for New Millennial Mortgages: 4.4%
• Median Property Value: $445,000
• Median Income of Millennial Mortgagor: $123,000

Charlotte-Concord-Gastonia: A Top Choice for Millennial Homebuyers

• Rank: No. 4
• Percent of Local Millennials Who Purchased a Home in 2022: 5.8%
• Number of Mortgages Originated to Millennials in 2022: 45,195
• Total Number of Local Millennials: 775,799
• Percent of Total Population Aged 25-44: 28.1%
• Median Interest Rate for New Millennial Mortgages: 4.5%
• Median Property Value: $405,000
• Median Income of Millennial Mortgagor: $110,000

Key Insights

• Popularity: Raleigh and Charlotte are leading cities for millennial homebuyers, indicating strong local economies and attractive living conditions.
• Affordability: Despite high property values, the median incomes of millennial buyers are substantial, suggesting a balance between income and housing costs.
• Growth: The significant number of mortgages originated to millennials highlights robust real estate activity in these areas.