Denver has the 11th-highest percentage of homeowners who are millennials, according to a survey of 173 U.S. cities with populations exceeding 150,000.
ImproveNet, a consulting company for home contracting, reviewed demographic data from the Census Bureau’s 2018 American Community Survey. The company found that 11% of homeowners on average were millennials in the cities analyzed, but that Clarksville, Tenn. had a substantially higher percentage, 23%.
All other cities on the list had millennial homeowner shares of less than 20%, with Denver at 15.4% and Fort Collins at 14.6%. Aurora and Colorado Springs also made the list, with approximately 14% and 13% millennial homeownership, respectively.
“According to our research, millennials looking to become homeowners should consider heading south, where almost half of the cities on the list can be found,” concluded ImproveNet.
The company added that it is “rare to find a millennial that’s both a homeowner and single. On average, they make up just two percent of homeowners nationwide.”
Upon examination of that demographic, Denver had the sixth-highest percentage, at 3.8%. However, in looking at millennial homeowners who also have families, Denver dropped to the lower half of the list while Aurora topped the other Colorado cities.
Approximately one in three people under age 35 is a homeowner in the U.S., according to the Census Bureau.