Median home list price: $170,800 Percentage of mortgages issued to millennials: 55.2%
Evansville is located right on the banks of the Ohio River in southern Indiana. The downtown is full of single-family homes that date back about 100 years, many with views of the river that weaves through the region. There are plenty of new or newly remodeled homes, too, with the open designs that millennial buyers crave.
The strong economy has put cash in the hands of younger folks here. The region is the headquarters for companies like Accuride Corporation, a vehicle components supplier, and Berry Global, a Fortune 500 plastic packaging maker.
“Evansville is a very affordable city,” says local real estate agent Trae Dauby of Keller Williams Capital Realty. “The bulk of our buyers right now are first-time home buyers, probably between the ages of 22 and 35.”
They’re typically local couples scooping up two- and three-bedroom houses on the suburban outskirts of the city, he says.
Buyers with some cash left over can head over to the Tropicana Evansville, a 45,000-square-foot casino in downtown. And sports fans can root for one of the local teams, like the Evansville Thunderbolts, a minor league hockey team, or the city’s minor league baseball team. Go, Otters!
* Calculated using using Optimal Blue mortgage data.