Consumer

Where millennials are most -- and least -- likely to own a home

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Millennials -- men and women between 18 and 34 -- lag behind previous generations in homeownership. They earn less money, carry more debt and housing prices are higher.
One in three millennials do own a home, thanks in part to cities and towns that are more accomodating to younger buyers. Here are the top 10 metro areas where millennials are most likely to own a home, followed by the 10 least likely, according to research by Adobo, an apartment marketing firm.
1. Ogden, Utah -- Percent millennial ownership: 51 -- Average home value: $195,600
2. York, Pennsylvania -- Percent owners: 48.9 -- Average value: $185,941
3. Reading, Pennsylvania -- Percent owners: 48.4 -- Average value: $176,192
4. Fort Wayne, Indiana -- Percent owners: 45.9 -- Average value: $139,203
5. Grand Rapids, Michigan -- Percent owners: 45.3 -- Average value: $147,584
6. Quad Cities, Iowa/Illinois -- Percent owners: 43.9 -- Average value: $153,225
7. Chattanooga, Tennessee -- Percent owners: 43.7 -- Average Value: $147,012
8. Des Moines, Iowa -- Percent owners: 43.6 -- Average value: $157,388
9. McAllen, Texas -- Percent ownership: 43.3 -- Average value: $97,096
10. Beaumont, Texas -- Percent ownership: 42.8 -- Average value: $131,519
Now here are the 10 metro areas where millennials are least likely to own a home, starting with the places where the percent who do own is highest.
1. New Haven, Connecticut -- Percent ownership: 24.4 -- Average value: $238,997
2. Fresno, California -- Percent ownership: 23.6 -- Average value: $212,713
3. San Franciso, California -- Percent ownership: 20.5 -- Average value: $717,814
4. San Jose, California -- Percent ownership: 20.2 -- Average Value: $737,077
5. New York, New York -- Percent ownership: 19.8 -- Average value: $480,106
6. San Diego, California -- Percent ownership: 19.8 -- Average value: $452,612
7. Honolulu, Hawaii -- Percent ownership: 18.3 -- Average value: $494,116
8. Los Angeles, California -- Percent ownership: 176.8 -- Average value: $560,164
9. Salinas, California -- Percent ownership: 17.6 -- Average value: $492,341
10. Santa Barbara, California -- Percent ownership: 13.7 -- Average value: $615,774

Millennials -- men and women between 18 and 34 -- lag behind previous generations in homeownership. They earn less money, carry more debt and housing prices are higher.