SmartAsset recently completed its fifth annual study of where millennials are buying homes, and Fort Wayne landed in the top 50.
Nine out of 10 millennial renters want to purchase a home, according to SmartAsset, but only 4.9% believe they will be able to do so in the next year. Many young adults cite home affordability issues as a key deterrent.
In some cities, however, such as Fort Wayne, millennials are bucking this trend with higher rates of homeownership.
SmartAsset uncovered where millennials are buying homes by analyzing millennial homeownership rates and the 10-year change in under-35 homeownership in 200 of the largest cities. Fort Wayne ranked 34th on the list, with a 36% homeownership rate among millennials, defined as those ages 18-34. The data is from 2018. That’s actually down 1.88% from 2009, when millennial homeownership in Fort Wayne was 37.9%
The full report, including the methodology and key findings, can be found here: https://smartasset.com/mortgage/where-are-millennials-buying-homes-2020.