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Omaha named top-five city for millennials to purchase a home

Posted at 11:21 AM, Jul 03, 2019
and last updated 2019-07-03 12:21:56-04

OMAHA, Neb. (KMTV) — If you've been thinking about buying a home, a new study says Omaha is one of the best places to do so.

Clever Real Estate says Omaha ranks number three out of the top twenty cities for millennial homebuyers.

They based their choices on these factors:

  • Job opportunity: A measure of income, wage growth, and unemployment
  • Home affordability: A measure of home values and price-to-income ratios
  • Livability: A measure of multiple factors millennials care about, such as commute times, crime rates, and education levels
  • Housing market forecast: A measure of how home values will appreciate over the next 12 months

They say coastal cities are often too expensive for millennials to buy a home such as in Seattle where they found the median price to be $537,800.

"A $107,560, 20% down payment is out of the realm of possibility for the average debt-strapped millennial."

The only cities named to the top 20 that beat Omaha were Rochester, NY and Des Moines, IA.

You can read the full study at this link: