Editor's note: With rents hitting historic highs, and in many metros surpassing them, the share of Americans who wish to achieve homeownership is rising year-over-year. Our friends at Trulia share insight on the dream of owning a home — and how to achieve it in Austin.
The number of Americans who dream of owning a home one day is up to 75 percent, according to a survey conducted by Harris Poll and Trulia. Within the millennial category, 80 percent of young people imagine owning their own home at some point. These statistics show that the American dream, which steadily declined after the housing market crash and recession of late 2008, is alive and well across all age groups.
In a recent study, Trulia ranked Austin the third best market to watch in 2016 based on five metrics: high job growth over the past year, affordability rates, large number of inbound home searches, high percentage of millennials, and low vacancy rates. Austin stole the third spot, behind the Grand Rapids, Michigan and Charleston, South Carolina, primarily due to a high share of millennial residents and the healthy job market.
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