Where’s Hot and Where’s Not for Home-Buying Millennials in 2016
This Sunday the Cincinnati Bengals will take on the Pittsburgh Steelers to try and clinch the AFC North Division title, so I thought it was only appropriate that I post a Pittsburgh related article this week (though not at all football related).
While Pittsburgh is arguably Cincinnati's biggest sports rivalry, it is also the most comparable city to Cincinnati in terms of location, size, demographics and trends. That is why, when a recent article posted to realtor.com, titled 'Where’s Hot and Where’s Not for Home-Buying Millennials in 2016' named Pittsburgh the #2 Hottest Market for Home-Buying Millennials in 2016, it caught my attention. Here is what the article writes of Pittsburgh:
2. Pittsburgh, PA
- Median list price: $149,000
- Population share of older millennials: 12.3%
While the highlighted text is intended to paint a picture of modern day Pittsburgh, it also provides the perfect description for what Cincinnati has become the past few years, and it is my belief that over time, the Queen City will prove equally, if not more attractive to Millennials than what Steel City is. After all, we already have the better pro football team!
- For older Americans (let’s say, 40-ish) who are used to thinking of the former steel town more as a cheap punch line than a destination stop, Pittsburgh’s considerable youth renaissance may come as a bit of a shock. But this riverside city is beginning to attract millennials in droves. Some consider it the new Portland. Low housing costs, good public transportation, cool clubs, a hopping night life, and a revitalized waterfront area all add up to an attractive destination for the young’uns. Pittsburgh ranked third out of the 100 largest markets for the 25- to 34-year-olds’ share of purchase mortgages in 2015.
