The Best Suburbs for Middle-Class Millennials, According to Real Estate Agents
Written by
Andrew Lisa
Edited by
Molly Sullivan
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With the oldest millennials now approaching their mid-40s, the generation has emerged as the foundation of the U.S. housing market. In April, the National Association of Realtors reported that millennials had surpassed baby boomers as America’s largest group of homebuyers, accounting for 38% of the purchasing market.
So, what do they look for when scoping out the ideal suburbs to grow roots?
“When you’re looking to buy a home as a middle-class millennial, affordability and how close you are to the city are usually the biggest concerns,” said Martin Boonzaayer, CEO of The Trusted Home Buyer. “The key is finding that sweet spot where you can actually afford a house without being too far from the action of a big city.”
Here are a few places where middle-class millennials can get the most bang for their buck.
Decatur, Georgia
In 2023, SmartAsset reported on Bureau of Labor Statistics data that showed Sandy Springs, Georgia, was one of the top 10 destinations for millennial transplants nationwide. Sandy Springs is around 40 minutes from Atlanta, and like neighboring Marietta, it’s nice but expensive.
The average home value in Sandy Springs is in the high $600,000s. In Marietta, it’s approaching $500,000.
But those aren’t the only two Atlanta suburbs available to the masses of incoming millennials who Urbanize Atlanta said are “by far the generation who favored the state most” in recent years.
“Areas like Decatur give you the best of both worlds,” Boonzaayer said. “They’re more affordable than Atlanta itself, but still close enough to enjoy city life. Decatur is particularly cool. It has a really great mix of old-school charm with newer restaurants and bars that appeal to a younger crowd.”
The average home value in Atlanta-adjacent Decatur is still under $300,000 — albeit only by a few bucks. That’s well below the national average of $361,282 and nearly six figures less than the $395,000 you can expect to pay in the city itself.
Lakewood and Thornton, Colorado
If the Mountain West is more your speed than the Southeast, you probably know that Denver is a highly competitive market known for bidding wars, waived contingencies and a median home sale price of nearly $600,000.
But that’s not stopping millennials from “taking over Denver,” according to a late 2023 Denver Gazette column that revealed more than 85,000 millennials had flocked to the metro in the preceding year alone.
Many can’t afford to buy in the city proper, but some of the surrounding towns are still there for the taking.
“Although Denver has become pricier, suburbs like Lakewood or Thornton are still affordable compared to being right in the city,” Boonzaayer said. “Plus, if you’re into the outdoorsy Colorado lifestyle, this area is perfect for you, with easy access to both the mountains and downtown Denver.”
In Thornton, neighborhoods like Woodglen Meadows are still priced in the low $480,000s — middle class by Denver metro standards. Areas like Union Square in Lakewood still sell in the low $300,000s.
Egan and Woodbury, Minnesota
In June, the Minnesota Star Tribune reported that “Minnesota’s urban core boomed over the past decade. Momentum is now shifting back to the suburbs.”
Millennials looking for towns that offer many of the same amenities as Minneapolis and St. Paul but without the cost and crowds have several attractive options.
“Suburbs like Eagan or Woodbury are affordable and family-friendly, but they’re still close to the Twin Cities,” Boonzaayer said. “These spots have lots of parks and a real sense of community, which is why so many young buyers are moving there.”
In Woodbury, at least a half-dozen neighborhoods have average home values under $280,000, with a few in the low $200,000s. Several areas of Eagan are still available in the $300,000s.
Bexley, Ohio
In 2021, the Columbus Region reported that the Columbus metro region’s blending of “big city amenities with Midwestern hospitality” had attracted so many millennials that it was “among the youngest cities in America.”
If they find Columbus is running out of room three years later, millennials should consider a nearby suburb.
“Bexley is an amazing place to buy a house because Ohio has a relatively cheap cost of living and housing prices,” said Bennett Heyn, CEO of Sell House Columbus Ohio. “Bexley is an amazing place to start a family because housing is affordable for most millennials.”
In the Bexley neighborhoods of Eastgate, Eastmoore, Broadleigh and South of Main, the average home value is $200,000 to $210,000. At around $220,000, Woodland Park isn’t far behind. Driving Park and Shepard are still available in the $100,000s.
Editor’s Note: All home values are from Zillow.
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