Best Cities for Millennials: What does $350,000 Buy You?
When it comes to buying a house, everyone knows it's location, location, location. For young homebuyers, there's a lot to think about. Will you be able to get a good job in your new town? Is there enough to do? How will you meet people? Luckily, Money Magazine is here to help out with their list of the top 5 cities for millennial. Their picks were based off of job growth, affordability, concentration of amenities, and--of course--access to fun and leisure activities. So now you have some options, how much house can you afford in each of these dream cities?
We did the research for you and found five lovely homes that would be perfect for a millennial buyer on a $350,000 budget.
- Duplex in Columbus, Ohio $349,900. Are you ready to be a landlord? Renting out the other half of this duplex could be a great way to pay your mortgage and start saving. It's about two miles from Columbus' Uptown District and one from the Brewery District. What more could a millennial want?
- A three bedroom, two bath bungalow in Atlanta, Ga $350,000. An older home within walking distance to restaurants and shopping? Sounds like a dream. And that double-decker deck? Gorgeous! It's about 3 miles from Centennial Park, 2 from Georgia Tech, and close to a MARTA stop. The house is located in Berkley Park, a close-knit, historic. Every homeowner quickly learns good neighbors and neighborhoods are worth their weight in gold (and then some).
- This energy efficient bungalow in Tucson, AZ. $330,000. This house is in John Wesley Miller's solar community, which means lots of energy efficient and solar powered features in the home. The two bedroom 1.5 bath home is about two miles from the University of Arizona.
- One story bungalow in Austin, Texas. $347,000. This home isn't too far from the University of Austin or the Austin Hospital, which can mean and easy commute to school or a job. The house might be on the small side, but with three bedrooms and one bath, it's a cozy little starter home for a young buyer. Not to mention it's a short drive to downtown or an easy walk to food and bars. During the summer months you could do some serious entertaining with those great porches and big yard.
- 720 square foot houseboat in Seattle, Wash.$347,000. Okay, so we're kind of cheating on this one since it's definitely not a lifestyle for everyone. But if it is, this one bedroom, .75 bath has a lot to offer a young buyer. Not only is it right next to a park, it's also about 10 minutes from downtown in one direction and the University of Washington in the other--not to mention you can't get more waterfront than this. The marina does have an HOA, which means you'll have access to common areas and other amenities. You might need to do some thinking before you commit to an HOA, but life on the water will definitely give you certain freedoms (noisy neighbors? Just go for a kayak ride until they settle down). Even if it's not your forever home, think about the AirbnB or HomeAway rental opportunities down the road.
If these houses aren't your style, there are plenty more to choose from. Once you find a great real estate agent in your favorite millennial city, you'll be able to work together to find the location---and house---that meets your needs.