Minnesota ranks as the most desired state for young people buying property, with 50.8% of people under age 35 owning a home, according to a recent survey conducted by property management services and brokerage firm Evernest.
The analysis took into account the range of factors including homeownership rate for people under 35, average young adult income, home prices, and the number of homes with a mortgage.
Rounding out the top five states where the homeownership rate among people 35 or under is highest are Michigan (49.3%), Alabama (49.1%), Indiana (47%) and Utah (46.1%).
Utah stands out as the state with the highest income for young adults at $95,210.
West Virginia, which ranks sixth on the list, provides the cheapest homes for sale, with an average price of around $158,000.
The emergence of non-coastal states like Minnesota as homeownership hubs for millennials and Gen Z signals a significant demographic shift. With over half of Minnesotans under 35 achieving homeownership—nearly double the rate in high-cost coastal markets—we’re witnessing young Americans prioritize financial stability and space over traditional urban amenities, Evernest says in its report.
This trend correlates strongly with remote work adoption, which has freed younger buyers to seek both affordability and quality of life factors like education and healthcare access.
The research can be found here.
Photo: Eastman Childs