Good news for Atlanta home builders targeting Millennial first-time home buyers! The state of Georgia was recently ranked No. 5 for Millennial movers, while the city of Atlanta was also ranked as one of the top 10 markets for first-time home buyers – many of which are Millennials.

This group, which currently totals 71 million individuals, is expected to surpass the total number of Baby Boomers in 2019. While Baby Boomers currently make up the largest segment of home buyers, many builders know that it’s crucial to build product that meets the needs of the growing Millennial generation. While Millennial’s used to be a force in home buying, they have been slow to join the ranks of homeownership post-recession due to factors like rising home costs and extensive debt that prevents down payment savings. But, as Millennials age and regain buying power, that is expected to change.

Georgia saw 17,621 net Millennials move into the state, resulting in Georgia’s No. 5 ranking for states with the most Millennials moving in. SmartAsset used Census Bureau data to find out where Millennials are moving. To track Millennials’ mobility, SmartAsset looked at immigration and emigration data from the U.S. Census Bureau for 2017 cities. Net migration data comes from the Census Bureau data and reflects the number of people between the ages of 20 and 34 who moved to the state in 2016 minus the number who moved out of the state.

Atlanta also landed as the No. 8 city out of the top 10 markets for first-time home buyers this spring according to Zillow’s 2018 Best Markets for First-Time Buyers Analysis.

Zillow ranked the 35 largest U.S. housing markets based on where first-time buyers have the best chance to find an affordable home with little buyer competition and strong forecasted home value appreciation. Zillow’s list of the best markets for first-time buyers is based on five metrics:

1. Low median home value that requires a smaller down payment.
2. Strong forecasted home value appreciation.
3. High inventory-to-household ratio, to indicate available supply.
4. Short Breakeven Horizon, which is the time it takes for buying to be financially advantageous compared to renting.
5. High share of listings with a price cut.

Finally, Atlanta is currently ranked the No. 3 housing market in the country by BUILDER Online.

What do all these rankings mean? That the city of Atlanta, and even the entire state of Georgia, is a great place for Millennials to live, work and play! Metro Atlanta offers affordable homes, an abundance of job opportunities in a variety of fields, top-tier shopping, incredible restaurants and plenty of entertainment, from fine art museums to outdoor attractions.

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