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Utah cities rank first in U.S. for millennial home ownership

My home’s value has shot up. Now what?
Posted at 10:46 AM, Nov 03, 2021
and last updated 2021-11-03 12:52:26-04

SALT LAKE CITY — These Utah cities rank first in the nation for home ownership among millennials, based on results of a new study.

Among mid-size metro areas Ogden-Clearfield came in number one for millennial home ownership and among large metro areas Salt Lake City came in first place for millennial home ownership, according to the study by researchers at Filterbuy.

To find the metropolitan areas with the highest millennial homeownership rates, researchers analyzed the latest data from the U.S. Census Bureau’s 2019 American Community Survey Public Use Microdata Sample (ACS PUMS) and Zillow’s most recent Zillow Home Value Index (ZHVI), a measure of typical home value.

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The researchers ranked metro areas according to the millennial homeownership rate. In the event of a tie, the metro with the larger number of millennial homeowners was ranked higher.

Salt Lake City's millennial home ownership rate is 51.4% with the median income for millennials being $38,000 and the median home price being $532,411.

To see more results from the study go here.