Why Nashville Is A Top City For Young Homebuyers

Dated: 03/28/2018

Views: 415

by TJ Anderson

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Working day in, day out with people looking to buy a home in Nashville, I get a good sense of the human side of the housing market here. For lot of homebuyers coming to Nashville from larger cities — especially New York and Los Angeles — Nashville offers possibility they hadn’t felt before: the chance to get a professional foothold, live among a creative culture, and still own a home without a six-figure down payment in hand.

That’s the circumstantial evidence I get on the ground, even as Nashville’s growing, and getting more expensive. But there’s data backing up the sense I have, too — finance-focused website Growella created an algorithm, pulling from public resources, that calculates what cities offer the best setup for young adults, establishing their lives.

At No. 3 on their list of the Top 100 Cities for millennials: Nashville, Tenn., with a grade of “A” on their ideal-place-to-live report card, just behind Pittsburgh and Durham, N.C.

How and why Nashville ranks so high for young adults

I was intrigued by Growella’s rundown because they developed their conclusions entirely through data and statistics, focused on real, basic concerns for people trying to get their post-school lives under way — things like the number of entry-level jobs available, how far your dollar goes on everything from food to housing, how many other young people call the city home.

The calculations used a few things that could be considered subjective, like culture, but they arrived on their findings in a scientific way: comparing the number of restaurants, bars, food trucks and the like in a city to its population of 20- and 30-somethings, to get a sort of per-capita picture of a city’s social life.

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If you live in or know Nashville, it’s not terribly surprising that we’d rank high on a list of welcoming places for young folks. Nashville has an unemployment rate (2.8) that’s way under the national average (4.1), a median household income ($61,577) that’s above the national number ($59,055), and still, a median single-family home price ($289,093) that’s not too far from the national figure ($206,300). Plus, as far as culture goes, we do pretty OK, I’d say, both subjectively and statistically speaking. (Years into our “It City” thing, national and international publications still keep listing us as a top place to come.)

Still, it’s cool to see Nashville outranking other great cities with lots to offer wandering millennials, like Charlotte and Austin.

Read the full “Where Should I Move? – A Guide For Millennials” at Growella.com, if you’d like to get a deeper sense of what they found and why they found it.

Settle down in Nashville

Is planting roots in Nashville on your 2018 to-do list?

Start exploring by checking out Nashville homes for sale on the MLS, including single-family homes and condos. (You can tweak the search to focus in on your budget and needs.)

Need more direction/help figuring out which Nashville neighborhood is right for you, or feel ready to start touring places? Call or email TJ Anderson Homes, and tell me about what you need. I’d love to help you get into the perfect Nashville home.

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TJ Anderson

TJ Anderson is a Nashville Realtor with Benchmark Realty who's helped countless clients both buy a home and sell a home in Nashville, Tennessee. He blogs about Nashville regularly, from Nashville-area....

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