State College is one of the top places where millennials are buying homes, according to realtor.com®.
Thanks to job opportunities and affordable cost of living, State College landed ninth on the list. The median home list price is $235,550 in State College, compared to the national median price of $269,500.
“A lot of the millennial buyers here are Penn State alums that may have left for their first job, and then moved into a better position back in State College. The Penn State alumni base is very large and it draws a lot of them back to State College. Relatively speaking, homes are still affordable in State College,” said Marc McMaster, Centre County Association of Realtors® president. “State College has a vibrant and diverse night life, as well as being able to be in nature within a few minutes. State College has a lot of parks and outdoor space as well.”
McMaster said millennials looking to buy in the area should first and foremost hire a Realtor®. “Inventory is low and having a Realtor® on your side to get you into hot, new listings greatly enhances your chances of being the lucky buyer,” he added.
Realtor.com® analyzed where each generation is moving, the metros each generation is searching for via their website, the number of residents a metro gained and the percentage change in homeownership from 2016 to 2018. San Francisco was the top spot for millennials, while Generation X chose Houston. Baby boomers were most likely to move south, specifically Phoenix.