The 13 US cities where young people are buying the most homes

In fact, writes economist , millennials will be driving the demand for housing in the near future. Contrary to previous generations, however, they are staying in cities rather than buying houses in the suburbs or rural areas, according to research by think tank City Observatory, as reported by the New York Times.

Where are they going? A study by LendingTree, the online loan marketplace, analyzed 500,000 mortgage requests and offers from applications between August 2016 and February 2017 to find the cities with the highest percentages of mortgage applicants who are 35 or younger.

Below, we've listed the percentage of mortgage applications coming from the 35-and-under crowd, the average down payment supplied by those who are approved from that group, and the average mortgage amount these millennials take on.

13. Denver, Colorado

Percentage of millennial homebuyers: 43%

Average down payment: $50,306

Average mortgage: $284,967

12. Grand Rapids, Michigan

Percentage of millennial homebuyers: 43%

Average down payment: $19,058

Average mortgage: $170,486

11. Wichita, Kansas

Percentage of millennial homebuyers: 44%

Average down payment: $18,956

Average mortgage: $170,462

10. Omaha, Nebraska

Percentage of millennial homebuyers: 44%

Average down payment: $29,637

Average mortgage: $192,215

9. San Francisco, California

Percentage of millennial homebuyers: 44%

Average down payment: $160,400

Average mortgage: $528,760

8. Chicago, Illinois

Percentage of millennial homebuyers: 44%

Average down payment: $59,480

Average mortgage: $273, 375

7. Cincinnati, Ohio

Percentage of millennial homebuyers: 45%

Average down payment: $25,575

Average mortgage: $173,904

6. Minneapolis, Minnesota

Percentage of millennial homebuyers: 45%

Average down payment: $40,572

Average mortgage: $226,158

5. Saint Louis, Missouri

Percentage of millennial homebuyers: 45%

Average down payment: $32,242

Average mortgage: $189,499

4. Boston, Massachusetts

Percentage of millennial homebuyers: 46%

Average down payment: $88,876

Average mortgage: $410,504

3. Des Moines, Iowa

Percentage of millennial homebuyers: 46%

Average down payment: $25,878

Average mortgage: $173,439

2. Washington, DC

Percentage of millennial homebuyers: 47%

Average down payment: $83,461

Average mortgage: $381,109

1. Pittsburgh, Pennsylvania

Percentage of millennial homebuyers: 48%

Average down payment: $33,963

Average mortgage: $201,921

The 13 US cities where young people are buying the most homes

JOIN OUR PULSE COMMUNITY!