The San Antonio area is among the U.S. metros with the largest growth in millennial homeownership over the past five years, according to a study published Tuesday.
Between 2017 and 2022, the number of millennial homeowners in the San Antonio-New Braunfels metro jumped 127.9% — the nation’s sixth-highest increase — according to an analysis by rental marketplace RentCafe. To compile its ranking, the company analyzed generational home buying and rental data from the 110 largest U.S. metros.
The dramatic increase in millennial homeownership in and around the Alamo City is in tune with national trends. According to the study, millennial homeowners — those born between 1981 and 1996 — outnumbered millennial renters for the first time last year, with 52% of millennials now owning homes.
Nationally, Richmond, Virginia, saw the highest increase in millennial homeownership, followed by Las Vegas and Milwaukee. Austin was the only other Texas metro to make the listing, coming in at No. 9 with a 112% jump in millennial homeownership rates.
Last year, San Antonio was ranked among the best cities for first-time millennial homebuyers by online home-buying platform Knock. The city landed on that list due to its relative affordability and strong job market.
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This article appears in Apr 5-18, 2023.