Dallas and Houston are the hottest spots in the country for millennial homebuyers.
That’s what analysts at California-based Meyers Research found in their annual “millennial desirability index” that rated the country’s largest housing markets.
Austin ranked third on the same list, which compared data on housing affordability, job growth, cost of living and other factors for major metro areas across the country.
Meyers Research’s director of research, Ali Wolf, said factors such as Texas’ relatively low new home prices, strong economy and high quality of life push the state’s major cities to the top of the list.
“Of our eight index factors, the Texas markets are in the top 20 percent for all but fun,” Wolf said. “The ‘fun’ component is lower than the markets you’d expect — New York, San Fran, Miami and San Diego.
“Austin is the top Texas market for fun.”
The study found that 70 percent of younger millennials seriously considered moving to other cities.
Job opportunities, affordability and lifestyle were key factors millennials said they would consider in moving to a new city.
Meyers Research quizzed people born between 1980 and 2000 for the study.
Meyers’ study is one of two recent studies that give North Texas high marks for first-time homebuyers.
Dallas was in eighth place in Zillow’s recent ranking of the 10 top U.S. markets for first-time homebuyers — the only Texas city on that list.
To determine its ratings, Zillow looked at home costs, property appreciation, housing inventories and the number of housing listings with a price cut.