Cary lands on top 10 list of where millennials are buying homes

A new report from SmartAsset ranks Cary as the No. 6 place in the country for millennial homeowners.

It’s the second year in a row that the town has landed in the top 10 on the list of “ Where are Millennials Buying Homes”. SmartAsset generated the list by analyzing ownership rates in 200 cities among homeowners younger than 35. Using data from the U.S. Census Bureau, the cities were scored and ranked based on the homeownership percentage change from years 2006 and 2015.

In 2006, the millennial homeownership rate in Cary was 35.9 percent, which declined slightly in 2015 to 35.5 percent. “Despite this slight decline, Cary made our list because a 35.5% millennial homeownership rate is still quite high,” the report said. It attributed the high rate due to the town’s repeated rankings as a safe city and for its economy.

Overall, the study found that the Northeast was the region least likely for millennials to own homes. The only city from that area to crack the top 25 was Springfield, Massachusetts, at No. 23.

Cary was the only North Carolina town to land in the top 10. The only other city to make the top 25 was Winston-Salem, which ranked No. 14.

See the link above for the “Top 10 cities for millennial homeownership”, according to SmartAsset (town; score):  by Marc DeRoberts, Triangle Business Journal

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