Millenials Begin Their Entrance Into Tampa’s Housing Market

westparkvillageIt is estimated that millenials will enter the housing market in the approaching years and become a driving force in the market not seen since the post-war expansion experienced by baby-boomers.

RealtyTrac’s recent report considered 351 U.S. counties with a population of 100,000 or more to determine the counties that have affordable properties for millenials. The percentage of income spent on housing for both rental properties and purchasing homes was considered as the criterion to determine whether the properties are affordable or not. RealtyTrac analyzed each county for affordable properties and revealed that Tampa Bay (Pinellas, Pasco, Hillsborough) counties were not mentioned in the list of affordable properties.

RealtyTrac proposed that the largest growths in the housing market are evident in markets which can provide affordable homes to millenials. The affordability is measured both in terms of housing and renting. The analysis by RealtyTrac revealed that Richmond County in Georgia ranked in the top amongst the most affordable properties to purchase. Bossier Parish County in Louisiana was also considered to be one of the most affordable markets for rental properties.