Millennials aren't getting a lot of love from Dallas' fast-paced housing market. The Dallas-area ranks near the bottom of the list of major U.S. cities for millennial homeownership. Only 28.7 percent of millennials own the roof over their heads in Big D, according to a new report by ABODO Apartments, a new online rental finding service. "These numbers in Dallas fall at the low end for homeownership by millennials, when compared to the rest of the country," ABODO spokesman Sam Radbil said. "The city ranks No. 106 overall in terms of cities with the most millennial homeowners. "The average millennial in Dallas would have to save for 10.4 years, in order to afford a down payment on a home," Radbil said in an email. Even larger than the baby boom generation, the more than 75 million U.S. millennials, generally described as those born from the late 1970s to the mid-1990s, are at the top of the housing industry's wish list for potential buyers. But millennials have been slow to transition from renters to buyers. With home prices in North Texas up by more than 50 percent in the last five years, it's harder for young first-time buyers to afford a purchase.
- Dallas Morning News, June 28, 2017