Metro Areas with the Greatest Share of Millennials Living Solo

Across the United States, almost 9 percent of millennials live alone. This number has been declining since 2005, likely due to unaffordable rents and growing home values. This past year alone, home values across the nation are up 5 percent and rents have increased by 3 percent. With rents forecasted to increase by another 3 percent this year, millennials have struggled to find affordable housing.

Zillow recently released data on the top 10 cities where millennials can afford to live alone. These findings are based on the percentage of millennials living solo, median income values, the share of affordable homes and employment growth.

Richmond tops Zillow's list of affordable metros thanks to its high median income, large share of affordable homes and promising employment growth. While Oklahoma City ranks 10th on Zillow's list, nearly 22 percent of homes are affordable to millennials. This number is promising since only 11 percent of homes are affordable to millennials across the United States. While Austin offers the lowest share of affordable homes, year-over-year employment growth is at 4.6 percent, presenting a strong labor market, making it a desirable destination for millennials.

Below is a complete list of the top 10 cities for millennials living solo:

  1. Richmond, VA
  2. Pittsburgh
  3. Buffalo, NY
  4. Columbus, OH
  5. Virginia Beach, VA
  6. Cleveland
  7. New Orleans
  8. Austin, Texas
  9. Kansas City, MO
  10. Oklahoma City

 

Millennials Living Solo

 

Miriam Bornstein writes about lifestyle, home improvement and design for Zillow Blog.

 

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