Not too many Houston millennials can afford to live alone, says new report
Houston is becoming more and more attractive to millennials, but are they getting the independence they crave?
Not really, according to a report by Zillow. The real estate website recently analyzed which metro areas have the largest concentrations of millennials living alone, and the Bayou City isn't one of them.
Only 10.6 percent of Houston millennials live solo, but those who do are in pretty good financial shape. They have a median salary of $45,000 but even so, can afford only 5.2 percent of available homes.
The story is different in Austin, which has one of the highest percentages of millennials living alone, 13.4 percent, but it's a stretch. Millennials flying solo in Austin have a median salary of $40,000 and can afford only 1.5 percent of available homes. Compare that to Oklahoma City, where the 13.3 percent of millennials live alone and can afford more than 20 percent of homes.
Where is the highest concentration of independent young people? Richmond, Virginia (15 percent); Pittsburgh (14.3 percent); and Buffalo, New York (14.2 percent) round out the top three.
The rest of Texas is on par with Houston. Twelve percent of Dallas-Fort Worth millennials live alone; in San Antonio, the figure is 10.7 percent.