These NC cities are the most popular for millennial homebuyers, report says

The South is a hot spot for homebuyers, and two North Carolina cities among the most popular for millennials, according to a new report.

SmartAsset, a financial tech company, revealed the 15 places where the most people between ages 25 to 44 are settling down.

Based on Home Mortgage Disclosure Act data from 2022, the report says Raleigh ranked as the overall most popular city for millennials with Charlotte not too far behind at No. 4.

Raleigh-Cary, NC (No. 1)

• Percent of local millennials who purchased a home in 2022: 6.5%

• Number of mortgages originated to millennials in 2022: 27,859

• Total number of local millennials: 428,846

• Percent of total population aged 25-44: 28.9%

• Median interest rate for new millennials mortgages: 4.4%

• Median property value: $445,000

• Median income of millennial mortgagor (buyer): $123,000

Charlotte-Concord-Gastonia (No. 4)

• Percent of local millennials who purchased a home in 2022: 5.8%

• Number of mortgages originated to millennials in 2022: 45,195

• Total number of local millennials: 775,799

• Percent of total population aged 25-44: 28.1%

• Median interest rate for new millennials mortgages: 4.5%

• Median property value: $405,000

• Median income of millennial mortgagor (buyer): $110,000

Here’s how the North Carolina cities compared to others where millennials are buying homes the fastest across the country:

Top 10 cities for Millennials homebuyers

You can find the full report of where millennials are buying the most homes online at smartasset.com.

Chyna Blackmon

The Charlotte Observer

Chyna Blackmon was a service journalism reporter for The Charlotte Observer. A native of the Carolinas, she grew up in Columbia, SC, and graduated from Queens University of Charlotte. She’s also worked in local television news in Charlotte, NC, and Richmond, VA. Support my work with a digital subscription