In the next few years, the majority of millennials plan to stop renting and start owning — and Texas is leading the charge.
A new report from Apartment List analyzed responses from millennials in its first-ever Renter Confidence Survey to determine their future homeownership plans. According to the survey, 78 percent of Texas millennials plan to purchase a home, making the state the No. 14 place in America with millennials that intend to buy. In Dallas-Fort Worth, 77 percent have homeownership in their sights, landing it at No. 12 in the list of cities countrywide.
Millennials are starting the trend in No. 2 Austin, where a whopping 82 percent plan to buy and zero percent want to continue renting.
Other Texas metro areas rank high on the list of places with millennials who plan to buy. Houston ranks No. 17 (75 percent) and San Antonio ranks No. 19 (74 percent).
Nationwide, 74 percent of millennials expect to buy a home. Fifty-three percent of those surveyed expect to buy after 2018. However, older, married millennials expect to make the move within the next three years, reports Apartment List.
Cincinnati, where 85 percent of millennials plan to buy, takes the top spot on the list. Denver (No. 3); Atlanta (No. 4); and Washington, D.C. (No. 5) round out the top five.