A recent SmartAsset study ranked Tacoma as the nation’s 15th top city where millennials are buying houses. Tacoma’s millennial homeowner population has increased nearly 5 percent over the past 10 years, and continues to grow.
Tacoma is one of only 42 cities in the U.S. to see an increase in millennial homeownership, according to the SmartAsset study. The national rate for this demographic is down 4.4 percent.
The study also showed that low home values do not necessarily indicate the places where millennials have decided to purchase homes. Over the past year, Tacoma housing costs have risen 12.8 percent, as recorded by Zillow.
Despite increasing home values, as well as record-high levels of student debt, many millennials have managed to surmount economic obstacles to make an impact on the regional housing market.