March 21, 2018

Study ranks Hartford 35th most popular city for Millennial homebuyers

PHOTO | HBJ File
PHOTO | HBJ File

A study by a national lending exchange marketplace ranked Hartford as the nation's 35th most popular city for Millennial homebuyers.

Lending Tree evaluated the nation's 100 largest cities, analyzing mortgage requests from and offers to individuals 35 years and younger between Feb. 2017 and Feb. 2018.

For Hartford, the average age of Millennial homebuyers was about 29 years old and their average credit score was 651. Millennials represented nearly 35 percent of home purchase requests in the city, with an average down payment of more than $21,000 and the average requested loan of about $165,500.

Hartford Millennial homebuyers ranked just behind their counterparts in Springfield, Mass., Louisville, Ky., Toledo, Ohio and South Bend, Ind. Major cities, including Chicago, Ill,. Denver, Colo., Detroit, Mich., trailed Connecticut Millennials on the list.

Millenial homebuyers in Des Moines, Iowa., Pittsburgh, Pa. and Buffalo, N.Y. led the nation in percent of purchase requests, at 42, 41 and 40 percent, respectively.

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