Here's a free infographic on the most and least affordable areas for home buying in the U.S.! The market varies greatly throughout the nation. You can use this infographic for a social media or blog post targeting potential contacts! Feel free to share this image wherever you like. It can be downloaded right below the image!
Finding an affordable home can be difficult as prices continue to rise. One area that is affordable is in Buffalo, New York. Buffalo is popular for having low median house prices but still a high quality of life!
Another affordable area is Kansas City, Missouri! Kansas City's downtown is more and more popular as time goes on and has a low cost of living. Dayton, OH is also affordable - and the state of Ohio is more sought after each year as a place to live. Home prices are an average of 70,000 in Dayton.
Omaha, Nebraska is another area with decently priced housing and an up and coming downtown area. Omaha has a very young population with over a third of its residents being under 24. Closing out our list of cost-effective areas to live in the US is Birmingham, Alabama with diverse neighborhoods and a low cost of living.
On the other end of the spectrum are the least affordable areas in the US. Unsurprisingly, California holds four of the five areas. San Jose, San Francisco, Los Angeles, and San Diego are all listed in the least affordable areas to own a home in the country. New York City is the only area outside of the Golden State. A high appreciation rate can be to blame in all five areas, with some going over 200%. The average monthly cost in all of these areas is also 3,000 or higher a month for housing expenses.
Here is another infographic you can use for a social media or blog post targeting potential contacts! This focuses on what millennials want! Feel free to share this image wherever you like. It can be downloaded right below the image!
Agents need to be aware of what millennials want because millennials are beginning to take up a lot of the real estate market! Millennials are ages 18-37 currently and over 82% of them are prioritizing buying a house. This group makes up over 35% of the homebuyer market, so, it's important to ensure agents know what they want.
Millennials want green features in their home. No, not the color! Good for the planet, green. Some examples of highly sought after features are solar and energy-efficient appliances. These buyers also need high speed wifi across their home. A lot of young people work from home right now and all of them use their phones at home so strong internet is a must.
Young people also have an affinity for public transportation - especially in urban areas. So, look for homes that are close to train stations, etc.
As far as aesthetics go, open concepts, minimal color, and new appliances and features are highly sought after. White and black are always in high demand.Be sure to use social media to highlight a property's instagram worthy features - this will help draw in buyers!
Some concerns for this particular group are affordability, maintainability of a property, and long wait times to purchase and/or move in.
Agents can solve millennial real estate issues by being well versed in what they want and what their concerns are!