July 27, 2017
The Millennial age group makes up close to 36% of Austin’s population. The problem, however, is that there are not many houses available in Austin, particularly southwest Austin, that fit within this age group’s price range. Especially among those who are first-time home buyers.
The median price for a Southwest Austin house is $350,000, according to the Austin Board of Realtors (ABoR). And, close to 30% of people relocating to Austin in 2014 were Millennials with a median annual household income of $51,810, based on information from the National Association of Realtors.
ABoR President Brandy Guthrie told Community Impact News that young professionals want smaller houses with nice amenities, that are located in areas with a light commute. But that type of housing, much of which is located in the urban core, isn’t available at the Millennial price range, she added.
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