Heartland Forward’s new research, “Millennials Find New Hope In The Heartland“, finds the Heartland to be an increasingly attractive destination for millennials to live and work in. Attracting millennials is key to the future economic growth of any area. A healthy housing market contributes to the appeal of an area, benefits from economic growth, and fosters economic vitality.
In the report, the top five Heartland metropolitan areas for millennials are Austin-Round Rock, TX; Midland, TX; Lake Charles, LA; Nashville-Davidson-Murfreesboro-Franklin, TN; and Fargo, ND-MN. As of January 2020, based on metro housing market vitality which quantifies the link between local economic conditions and future house price trends, HousingIQ forecasts four of these five areas to outperform the overall national market and the Fargo, ND-MN metro market to improve significantly and track the overall national market.
Overlaying demographics on housing market vitality allows identifying markets that are attractive for different goals. Presented below are five metro areas.
House prices in these areas have consistently outperformed the national market in the last couple of years. Their local economies are strong and specialized in the knowledge economy sectors that appeal to millennials. Such markets require workforce housing and present an opportunity for single-family rentals.