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Where Can Millennials Afford to Live Alone?

SEATTLE—New Zillow analysis finds 15% of Richmond millennials live alone, the highest percentage of all major US metros. Read more to hear some of the other top spots.

By Natalie Dolce | nataliedolce | | Updated on June 30, 2016

millenialhome SEATTLE—More millennials live alone in Richmond, VA than in any other major US metro. That is according to a recent Zillow analysis. And in Richmond, 15% of millennials live alone, followed by 14% in Pittsburgh and Buffalo, NY. Across the US, almost 9% of millennials live alone, a number that’s been declining since 2005. Zillow says that is likely due to unaffordable rents and rising home prices. Consequently, the company says that millennials choose to live with their parents or find roommates. The percentage of 23-34 year olds living with family increased 46% between 2000 and 2013, according to the recent Zillow analysis. Similarly, 21% of millennials across the US are still living at home with their moms, proving that “living with friends or family may be one of the ways to afford housing in some of the nation’s hottest markets.” There are, however, still places across the US where millennials are living independently. Richmond’s strong labor market—employment is up almost 4% over the past year—and relatively high incomes among millennials help. The median yearly income among millennials in Richmond is $49,500, which allows them to afford to live in over 15% of all rentals in the area. In Oklahoma City, 13% of millennials live on their own, with a median income of $40,000 a year, the report says. At this salary, they are able to afford almost 22 % of homes. Other top spots? In Columbus, OH, 14% of millennials live alone with a median income of $38,800 a year. And Virginia Beach, VA, ranks in at No. 5, with 13.9% at a median income of $50,000 a year.  

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