A new study shows that 4.1 percent of new homebuyers in Gainesville last year were under the age of 25. That compares to five percent nationwide.
Some unique, pandemic-related economic factors have contributed to the current state of the real estate market, but some of the largest factors are generational, according to the constructioncoverage.com report. “Baby boomers and members of the Silent Generation are increasingly choosing to age in place, while the millennial generation (born between 1981 and 1996) are now America’s largest generational cohort, and at a peak age for buying a first or second home.”
The report also shows that under-25 homebuyers in Gainesville took out a median loan amount of $275,000 in 2023, with a median interest rate of 6.813 percent.
For a deep dive into the complete data study, including all sources, you can check out the original report: https://constructioncoverage.com/research/cities-with-the-most-homebuyers-under-25