For many years, the industry expected millennials to gravitate toward cities, but that hasn’t necessarily been the case, as nearly 50% live in the suburbs and 20% live in rural areas, according to Zillow. Amid skyrocketing home prices, the suburbs typically offer more affordable housing opportunities.
And while most homebuyers — whether millennial, baby boomer or otherwise — crave walkability and close proximity to shopping and employment, recent data show that price and a desire to own a home will continue to trump those wishes.
