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Younger Millennial home buyers now dominate U.S. housing.
Home buyers aged 25-34 accounted for 26.51% of owner-occupied home buyers in 2022 – the most of any age group. Born and raised in an era of technological evolutions and worldwide connectivity, Young Millennials now steer the housing market course.
Many are first-time home buyers.
In our comprehensive report, “ZIP Code Invasions: Young Millennial Home Buyers Age 25-34”, we dig into FFIEC and Home Mortgage Disclosure Act (HMDA) data to spotlight where housing’s new leaders are making roots more than other age groups.
For example, two-thirds of home buyers in Chicago’s 60642 ZIP code (67.48%) and New York’s 11238 (67.24%) were Young Millennials, and the tech-centric heartlands of San Jose, California (95131) and Austin, Texas (78721), are experiencing a similar surge.
Young Millennials are carving a distinct path. As the largest age group of primary residence buyers, their choices are shaping the neighborhoods of tomorrow. From tech hubs to urban retreats, the dream homes of this generation are as diverse and dynamic as their digital-driven lives.
The quest for a nest has a new blueprint.
Scroll to the bottom for our complete methodology.
Located in the heart of Chicago, 60642 encompasses parts of the Noble Square and West Town neighborhoods. From an economic perspective, this Cook County, Illinois, zip code has become increasingly attractive to young professionals, mainly due to its mix of urban charm and proximity to the city's central business district. The area boasts a robust selection of trendy eateries, boutique shops, and vibrant nightlife, reflecting the energetic youth and entrepreneurial spirit present. The real estate landscape here blends historic brownstones with modern condominiums, catering to both traditionalists and those seeking a touch of the contemporary. Its closeness to the Kennedy Expressway and CTA Blue Line also ensures efficient commutes. Local landmarks like Eckhart Park and The Chop Shop venue further cement 60642's reputation as a hub for both leisure and opportunity.
11238 sits in the dynamic borough of Brooklyn, covering parts of Prospect Heights, Crown Heights, and Clinton Hill. For young professionals in their late-20s and early-30s, 11238 in Bronx County, New York, presents an enticing blend of culture, convenience, and economic opportunity. The area is home to the famed Brooklyn Museum and the northern edge of Prospect Park, a haven for nature enthusiasts in the midst of urban surroundings. With a diverse range of dining options reflecting the melting pot of cultures, there's an evident international pulse to the local scene. Economically, 11238 benefits from a mix of residential and commercial properties, attracting those who appreciate a short commute to Manhattan via multiple subway lines. Architecturally, tree-lined streets showcase a medley of historic brownstones and modern developments. Additionally, the presence of institutions like the Pratt Institute makes it a focal point for creativity and innovation.
78721 is a dynamic sector of Austin, capturing portions of East Austin, a region known for its rapid growth and cultural richness. Young professionals in their late-20s to early-30s gravitate towards the Travis County, Texas area due to its unique blend of affordability, culture, and proximity to Austin's bustling downtown. This area thrives on its vibrant arts scene, with local galleries and murals testifying to its creative spirit. The diverse culinary offerings, from food trucks to upscale dining, make it a gastronomic hotspot. Economically speaking, 78721's real estate has seen significant appreciation, with many seeing it as an investment opportunity due to the tech boom in Austin and the influx of businesses. Accessibility is also a highlight, with major thoroughfares like East MLK Jr Boulevard ensuring easy commutes. With its eclectic mix of old and new, 78721 is a testament to Austin's tagline: "Keep Austin Weird."City Text
95231 is centered around French Camp, located in Santa Clara County, California. For young professionals, the allure of 95231 is often rooted in its blend of affordability, agricultural richness, and proximity to key Californian destinations. As an economic pocket within the state's expansive Central Valley, French Camp has been historically tied to agriculture, offering job opportunities related to farming, distribution, and agri-tech. This ZIP code is strategically positioned near the intersection of Interstate 5 and State Route 99, two of California's major north-south highways, facilitating easy commutes and business connectivity. Its suburban charm is complemented by expansive agricultural landscapes, giving residents a balance of community living and open spaces. The local San Joaquin General Hospital is a notable employer and service provider in the region. For those seeking a calmer pace of life without compromising on economic opportunities, 95231 presents an appealing choice.
02109 encompasses a coveted portion of Boston, notably the historic North End and parts of the Financial District. For young professionals, the Suffolk County, Massachusetts, enclave represents a nexus of history, convenience, and vibrant urban life. Situated adjacent to Boston Harbor, this ZIP code offers sweeping waterfront views, with the Rose Kennedy Greenway providing a ribbon of green urban space. Economically, the Financial District draws professionals in finance, law, and consulting, with skyscrapers housing many of Boston's premier firms. The North End, often referred to as Boston's "Little Italy", is a cultural gem, boasting narrow streets lined with some of the city's most renowned Italian restaurants and bakeries. This ZIP code is also steeped in American history, with sites like Paul Revere's House and the Old North Church. In 02109, the fusion of historical charm with modern amenities and opportunities creates an unparalleled urban living experience.
60622 encompasses parts of Chicago's West Town, Wicker Park, and Ukrainian Village neighborhoods. A beacon for culturally attuned and economically driven young professionals, 60622 offers a compelling mix of arts, dining, and business opportunities. Wicker Park is famed for its bohemian vibe, with an array of independent boutiques, live music venues, and eclectic bars. Ukrainian Village, on the other hand, exudes a rich cultural tapestry, with churches, traditional bakeries, and vintage homes reflecting its storied heritage. Economically, 60622's location in the thick of Cook County, Illinois, offers an optimal balance — close enough to Chicago's central business district for convenient commutes but sufficiently distanced to maintain its distinctive neighborhood feel. Real estate trends show a blend of beautifully restored historic homes and contemporary condos, making them attractive for investments. Its vibrant street scenes, local parks, and artistic inclinations make 60622 a magnet for those seeking both livelihood and lifestyle.
98103 covers a significant portion of North Seattle, including the popular neighborhoods of Fremont, Green Lake, and Wallingford. Economically and culturally thriving, 98103 is a prime area for young professionals in their late-20s and early-30s. The King County, Washington, fondly referred to as the "Center of the Universe", is a hub of innovation, hosting several tech companies and startups, complemented by a unique blend of quirky public art and trendy cafes. Green Lake offers a recreational haven with its freshwater lake and encircling path, perfect for jogging or leisurely strolls. Wallingford, with its mix of classic Seattle bungalows and modern apartments, boasts vibrant commercial strips filled with eateries, shops, and entertainment venues. The region's connectivity is bolstered by major arterials and bus routes, ensuring easy access to downtown Seattle and neighboring areas. With its fusion of work opportunities, outdoor activities, and cultural hotspots, 98103 remains a sought-after ZIP code in the Emerald City.
94536 resides within the city of Fremont, a prominent node in California's San Francisco Bay Area. For young professionals navigating their late-20s and early-30s, this Alameda County, California, ZIP code offers a blend of suburban tranquility, strategic location, and economic promise. Centered in the northern portion of Fremont, 94536 enjoys proximity to both the Dumbarton Bridge, providing direct access to the Peninsula and Silicon Valley, and Interstate 880, a primary north-south corridor through the area. Economically, the broader Fremont area houses various industries, from tech startups to established manufacturing giants, enabling diverse career opportunities. Central Park and Lake Elizabeth within this ZIP code are focal points for recreation and relaxation, boasting expansive green spaces and water-based activities. With a medley of housing options, from single-family homes to apartment complexes, and an array of shopping and dining establishments, 94536 embodies the balanced lifestyle many young professionals seek, melding accessibility with community-centric living.
45208 envelopes the distinguished neighborhoods of Hyde Park and parts of East Walnut Hills in Cincinnati. It's a locus that resonates with young professionals in their late-20s and early-30s, combining the historic charm of Hamilton County, Ohio, with modern amenities and conveniences. Hyde Park Square is a community centerpiece, hosting boutique shops, local eateries, and regular farmer's markets. This ZIP code is synonymous with affluence and historical significance, as tree-lined streets reveal grand homes and well-maintained apartments. Economically, 45208 is strategically positioned, providing relatively quick commutes to Cincinnati's bustling downtown while also being home to various local businesses and services catering to the diverse needs of its residents. Proximity to the Ohio River and numerous parks, like Ault Park with its beautiful vistas, further amplifies the area's allure. With a reputation for safety, cultural events, and a cohesive community feel, 45208 remains a premier choice for young professionals in Cincinnati.
49505, located in the northeastern part of Grand Rapids, in Kent County, Michigan, stands as a compelling draw for young professionals in their late-20s and early-30s. This ZIP code showcases the essence of Midwestern charm coupled with urban advantages. The region is a blend of residential neighborhoods, commercial centers, and green spaces like Riverside Park, a sprawling green haven on the banks of the Grand River. Economically, 49505 benefits from Grand Rapids' reputation as a burgeoning hub for healthcare, education, and manufacturing industries. The area's housing market offers a mix of historical homes and newer constructions, presenting both character and modern comforts. The local community is bolstered by diverse dining spots, boutique shops, and regular community events that foster connectivity and engagement. With easy access to the city's downtown core and the convenience of local amenities, 49505 exemplifies a balanced urban-suburban experience in the heart of Michigan.
Situated in the eastern sector of Indianapolis in Marion County, Indiana, the 46201 ZIP code envelops parts of several neighborhoods, including Little Flower and Emerson Heights. For young professionals in their late-20s to early-30s, this ZIP code offers a blend of affordability, historical character, and revitalization potential. Architecturally, the area is known for its early-20th-century homes, many of which are bungalows and American Foursquares, exuding charm and authenticity. Economically, 46201 is seeing an upward trajectory as new businesses and urban renewal projects take root, spurred by Indianapolis's overall growth. Notable thoroughfares such as East 10th Street provide a host of local shops, dining options, and services, ensuring residents don't have to venture far for their needs. The area's accessibility to downtown Indianapolis ensures that career opportunities and cultural attractions are within a short drive. As investments continue and community engagement strengthens, 46201 is positioned as a promising locale for those eyeing both value and potential in Indianapolis.
Encompassing the southwestern part of Atlanta, 30310 features neighborhoods like West End and Adair Park. This Dekalb County, Georgia, ZIP code has caught the attention of young professionals, particularly those in their late-20s to early-30s, due to its rich history, affordability, and evolving landscape. The West End neighborhood, in particular, showcases many historic homes, exuding Southern charm with its Victorian and Craftsman-style architecture. The BeltLine's Westside Trail, which runs through 30310, is a significant catalyst for development and recreational activities, promoting walking, cycling, and community connectivity. Economically, 30310 stands as a beacon of potential, with increasing investments in local businesses, arts, and revitalization projects. This ZIP code also benefits from its proximity to downtown Atlanta, offering residents easy access to broader employment opportunities and city attractions. As a convergence point of history, opportunity, and community-driven growth, 30310 is fast emerging as a desirable hotspot for Atlanta's young professionals.
Nestled in the verdant outskirts of Seattle, 98072 is anchored by Woodinville, a community celebrated for its fusion of suburban serenity and vibrant viticulture. Especially appealing to young professionals in their late-20s and early-30s, 98072 offers a unique blend of laid-back living while being just a stone's throw away from the economic powerhouse of the Seattle metro area. Woodinville's Wine Country is its crowning jewel, boasting over 100 wineries and tasting rooms, making it a haven for oenophiles and a hub for wine-related tourism. Economically, the region offers a mix of local businesses and proximity to larger employers in nearby cities. The Sammamish River Trail, gracing the area, offers scenic routes for cyclists and joggers. Architecturally, 98072 showcases a variety of homes, from cozy craftsman styles to expansive estates, all set amidst lush Pacific Northwest greenery. Its combination of recreational opportunities, economic connectivity, and natural beauty positions 98072 as an attractive locale for professionals seeking balance in life and work.
35226 is a vibrant sector of Hoover, one of the state's primary suburban centers just outside Birmingham. This Jefferson County, Alabama, ZIP code holds significant appeal for young professionals in their late-20s to early-30s, synthesizing modern suburban amenities, green spaces, and economic opportunity. Within this zone, The Preserve and Bluff Park are notable neighborhoods characterized by their combination of historical charm and contemporary living. Economically, 35226 benefits from Hoover's diverse business landscape, ranging from retail giants to healthcare institutions. The area is anchored by the expansive Moss Rock Preserve, a nature lover’s retreat with scenic trails, waterfalls, and rock climbing opportunities. Easy access to major highways and roads ensures seamless commutes to Birmingham's bustling downtown, known as a regional hub for finance, tech, and healthcare. With its balance of urban conveniences, employment prospects, and natural attractions, 35226 emerges as a top choice for professionals keen on a holistic living experience.
Situated in vibrant Austin, 78723 encompasses emerging neighborhoods such as Windsor Park and Mueller. This ZIP code, with its blend of modern development and revitalized spaces, is increasingly resonating with young professionals in their late-20s to early-30s. The Mueller development, a reimagined space from Austin's old airport, epitomizes urban planning done right: a blend of residential, commercial, and green spaces, emphasizing walkability and community connectivity. Economically, 78723 offers myriad opportunities, driven by Austin's booming tech and music scenes, and bolstered by establishments such as the Aldrich Street town center in Mueller, which boasts a variety of shops, eateries, and entertainment venues. Proximity to the University of Texas and downtown Austin ensures both cultural immersion and career prospects. Parks, including Bartholomew District Park, accentuate the area's appeal by offering recreational spaces in the heart of urban settings. In the context of Austin's rapid growth, 78723 stands out as a beacon of sustainable and community-centric development.
48080 encompasses a portion of St. Clair Shores, a waterfront suburb located northeast of Detroit, alongside Lake St. Clair in Macomb County, Michigan. This ZIP code attracts young professionals, especially those in their late-20s to early-30s, with its unique blend of lakeside living, affordability, and proximity to the economic hubs of Metro Detroit. St. Clair Shores is renowned for its "Nautical Mile," a stretch replete with marinas, boutiques, restaurants, and boat dealers, all celebrating the city's rich maritime heritage. Economically, 48080 provides diverse opportunities ranging from local businesses to larger corporations in neighboring cities, all made accessible via major thoroughfares like I-94. The region prides itself on community-centric events, particularly those celebrating its waterfront, such as the annual Memorial Day Parade and various fishing tournaments. With a balance of lakeside recreation, economic opportunities, and community events, 48080 offers young professionals a distinctive suburban experience with the added charm of maritime culture.
35213 is primarily anchored by parts of Mountain Brook, an affluent suburb situated southeast of Birmingham. It's an area that particularly resonates with young professionals in their late-20s to early-30s seeking a harmonious blend of upscale living, verdant landscapes, and urban convenience. Mountain Brook is often regarded for its exquisite architecture, with homes that range from stately Tudors to refined Colonials. Economically, the area is buoyed by a mix of local businesses, boutique shops, and gourmet restaurants, notably found in the village-style shopping areas like Crestline Village. Just a short drive away, Birmingham's burgeoning downtown offers myriad opportunities in sectors such as finance, healthcare, and technology. Natural attractions like Jemison Park provide ample green spaces for relaxation and recreation, complementing the urban lifestyle with pockets of serene environments. In 35213, the synthesis of luxury, nature, and economic vitality positions it as a prime location for professionals seeking an elevated suburban experience.
94043 is set in Mountain View, right at the heart of California's iconic Silicon Valley. For young professionals in their late-20s to early-30s, this ZIP code is a nexus of innovation, technology, and lifestyle conveniences. It's home to tech titans like Google, ensuring a bustling environment ripe with cutting-edge career opportunities. Beyond its technological pedigree, 94043 offers diverse housing options, from modern apartments to cozy single-family homes, catering to various preferences and lifestyles. Shoreline Park, a local favorite, offers a sprawling green space with a lake, golf course, and the iconic Shoreline Amphitheatre, reinforcing the area's commitment to recreation and culture. Proximity to major tech hubs like Palo Alto and Sunnyvale, combined with efficient transit options, ensures both career mobility and work-life balance. In 94043, synthesizing technological prowess, recreational venues, and vibrant urban living creates an ideal backdrop for young professionals carving their path in the tech world.
49506 encompasses the esteemed East Grand Rapids and parts of southeastern Grand Rapids. This ZIP code holds significant allure for young professionals in their late-20s and early-30s, offering a fusion of historic charm, community vibrancy, and proximity to economic opportunities. East Grand Rapids, often the highlight, centers around Gaslight Village, a bustling district with boutique shops, eateries, and local businesses, reflecting a blend of sophistication and accessibility. The picturesque Reeds Lake provides a scenic backdrop for recreational activities, from jogging trails to boating. Economically, 49506 benefits from Grand Rapids' diverse and growing sectors, including healthcare, education, and manufacturing, providing a stable foundation for career advancements. The tree-lined streets, interspersed with architectural gems ranging from Tudor to Colonial Revival, create a scenic and homely environment. Given its balance of urban amenities, community engagement, and proximity to Grand Rapids' dynamic downtown, 49506 is a preferred choice for young professionals seeking comprehensive suburban-urban living.
The 28211 ZIP code covers parts of Charlotte, including the prominent neighborhoods of Cotswold and Foxcroft. This Mecklenburg County, North Carolina, area increasingly appeals to young professionals in their late-20s and early-30s, offering a blend of traditional Southern charm, modern conveniences, and economic prospects. The Cotswold Village Shops, with their diverse retail and dining options, act as a local hub for daily necessities and leisure activities. Economically, 28211 benefits from Charlotte's robust banking sector, known as the second-largest banking center in the U.S., as well as its growing tech and healthcare industries. With its combination of elegant homes, well-maintained apartments, and abundant green spaces, the area provides a high quality of life. Proximity to Uptown Charlotte ensures that residents enjoy the best of both suburban comfort and urban excitement. Whether through its well-connected roadways, flourishing local economy, or community-oriented atmosphere, 28211 offers young professionals a versatile living experience in the thriving heart of the South.
The data for our study was gathered from the FFEIC website, specifically the Snapshot National Loan Level Dataset for 2018-2023. These Snapshot files contain national HMDA datasets filed by U.S. mortgage lenders as of April 30, 2022. Data is modified to protect applicant and borrower privacy.
The study centers on home buyers of 1-4 unit residential properties in the 50 states and the District of Columbia. Home buyers of second homes and investment properties are not considered in the research. Home buyers with one-time construction loans and other open-ended mortgages in first-lien positions, such as home equity line of credit (HELOC), are also excluded.
Our analysis uses complex database queries that join result sets from the Loan Application Register and U.S. Census Bureau. Our queries efficiently sift through large datasets exceeding 30 GB to extract the intended information.
We removed outlier data, mostly linked to mortgage applications that applicants either withdrew or that lenders denied due to incompleteness, that fell outside of typical and expected ranges. Less than one-half of one percent of HMDA was excluded for reasonability reasons.
To ensure the accuracy of our study, we relied on the robustness of the HMDA data and the precision of our database queries. The stringent data extraction, filtering, and analysis process contributed to our result’s reliability.
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