millennial magnet

Dallas ranks among 15 hottest U.S. metros for millennial homebuyers

Dallas is one of the 15 hottest destinations for millennials.

Dallas and its surrounding cities have already proved to be a magnet for millennials, and now a new national housing report has established the city as one of the 15 hottest destinations for millennials, whose local homeownership rate has soared since 2018.

The number of millennials who own their homes in Dallas has grown from 229,497 to 451,826 households over the last five years (96.9 percent), according to a new housing analysis from RentCafe.

The study compared homeowner growth rates versus renter growth rates of millennials — based on Pew Research Center's definition as individuals born between 1981 and 1996 — across 107 U.S. metro areas from 2018 to 2023.

Dallas ranked No. 15 in the overall list of U.S. metros that have seen the highest increase in millennial homeowners since 2018. About 47 percent of all Dallas-area millennials own their homes, with the remaining 53 percent renting, the report found.

"The top 20 metro areas with the greatest increases in Millennial homeownership are led by sunny regions in Florida and California," the report said. "Unexpected urban hubs such as Dallas, San Antonio, Philadelphia, and New York also made the list with ownership growth rates reaching 90 percent or higher."

Dallas also ranked 27th in the national list of cities with the biggest growth rates among millennial-age renters. The number of millennial renter households jumped from 465,560 to 507,416 in five years, a 9 percent hike.

About 5.3 million millennials have become homeowners over the last five years nationwide, RentCafe's analysts said, which represents a massive 74 percent increase in millennial-owned households. The growth rate of renters was much lower in comparison.

"At the same time, the number of millennial renters in the U.S. rose by a modest 5 percent, adding approximately 600,000 households," RentCafe said. "This brings the total number of millennial homeowner households to 12.4 million, close to the 12.6 million millennial renter households."

While the rate of millennial homeowners is on the rise, the same can't be said for Gen Zers. About 12 percent of all Gen Z households in Dallas-Fort Worth own their homes, while the vast majority are renters, a separate RentCafe study found.

Elsewhere across the state, Austin (No. 7) and San Antonio (No. 10) ranked among the top 10 U.S. cities with the biggest growth rates among millennial homeowners.

The top 10 U.S. metros with the highest gains in millennial homeowners are:

No. 1 – North Port, Florida
No. 2 – Lakeland, Florida
No. 3 – Jacksonville, Florida
No. 4 – Stockton, California
No. 5 – Oxnard, California
No. 6 – Palm Bay, Florida
No. 7 – Austin, Texas
No. 8 – Tuscon, Arizona
No. 9 – Deltona, Florida
No. 10 – San Antonio, Texas

rentcafe study real estate housing report millennials dallas

Made-for-TV listing

Chip and Joanna Gaines put fixed-up Waco mansion on market for $7.4M

Facebook/Magnolia Realty

A Waco mansion fixed up for TV by Chip and Joanna Gaines is on the market for $7.4 million.

A Waco estate that will star in Chip and Joanna Gaines’ latest TV series, Fixer Upper: Chip Bought a Mansion, has gone on the market for $7.4 million.

The more than 14,000-square-foot mansion sits on a 5.7-acre site at 5305 Hillcrest Dr. that boasts views of Lake Waco. The listing, held by Amanda Nesbitt of the Gaineses’ Magnolia Realty, says the home “will be thoughtfully reimagined to reveal a timeless, more neutral-leaning palette for a future owner.”

Listing photos show the pre-renovation state of the mansion.

The European-style mansion, featuring a red-brick and cast-stone façade, looks similar to luxury homes you’d find in Preston Hollow, Highland Park, and other high-end neighborhoods in the Dallas area.

A light-filled, two-story foyer with a floating staircase and ornate iron banisters greets visitors, as do parquet flooring and stately columns.

Gaines Waco mansion The mansion foyer before the renovation.Facebook/Magnolia Realty

Venturing into the six-year-old home, you’ll find six bedrooms and 11 bathrooms. The first-floor primary suite offers two bathrooms, several closets, and courtyard access. A guest suite comes with a bedroom, bathroom, living area, kitchenette, and private entrance.

Amenities include:

$\u200bGaines Fixer Upper mansion$

Facebook/Magnolia Realty

A Waco mansion fixed up for TV by Chip and Joanna Gaines is on the market for $7.4 million.

Private study
Billiard room
Media room
Wet bar
Wine cellar
Butler’s pantry
Gym with a steam shower

Outside, several covered porches, an outdoor kitchen, an infinity-edge pool, and a pond let residents and visitors soak up nature. A motor court and four garage bays provide ample space for parking.

As part of the Fixer Upper renovations, the home’s architectural details, such as trim, moldings, and millwork, “will be preserved and elevated in order for their craftsmanship to shine,” the listing says.

Gaines Waco mansion The mansion has a splendid view of Lake Waco.Facebook/Magnolia Realty

Meanwhile, the kitchen will be turned into the “central heart” of the mansion, according to the listing.

“Additional design refinements throughout the home will set an elegant, renewed vision for all that Hawkesdene Estate will become,” the listing says.

Fixer Upper: Chip Bought a Mansion, a six-episode series, is scheduled to debut Dec. 27 on the Gaineses’ Magnolia Network and HGTV. New episodes will be available to stream the next day on HBO Max, according to TV Insider.

Chip purchased the mansion three years ago as an investment property, People magazine reported. The series follows the Gaineses as they confront budget challenges and a three-month deadline to sell the property.

“This will be the biggest fixer we’ve ever done,” Joanna says in a clip from the show.

Chip and Joanna recently sold a 136-year-old Waco castle that served as the foundation of another series, Fixer Upper: Welcome Home – The Castle. They listed 6,176-square-foot Cottonland Castle at nearly $2.7 million. The sale price wasn’t disclosed.

chip and joanna fixer upper hgtv luxury mansion texas waco home-for-sale