13 cities that have priced out millenials from buying a home
Some (predictably) bad news for my fellow millennials (aka: Snake People): Many of us cannot afford to buy a home in some of the country’s biggest metropolises. Why? Simply put: We just don’t earn enough.
Bloomberg data whizzes pulled stats from Zillow.com, Bankrate.com, and the U.S. Census Bureau to find out how much more money young professionals, ages 18-34, would need to earn to afford a home in the Big City. They break their findings down in this handy infographic:
Of course, many of these expensive cities are along the coasts (hello, sea-level rise) and/or they’re in drought-plagued California. Cash-strapped snake people might consider Chicago, Austin, Memphis, or Detroit. These four cities are among the 37 Bloomberg‘s research team deemed affordable for the average snake person home buyer.
Want to see which other cities have more affordable housing markets for snake people? Check out Bloomberg’s full list.