News
Millennials Can Afford 64% of DC Homes
May 1, 2015
It's a good time to be a Millennial. An analysis reveals that as of Q4 2014, 64% of DC area homes are affordable to the average Millennial. This is based on data Zillow collected from households headed by Millennials between the ages of 23 and 34 in the DC metro area, assuming no more than 30% of their household income would be spent on a mortgage. This is a step up from Q4 2013, which saw 61% of homes affordable for Millennials. Based on the graph, Q4 percentages tend to be among the highest, with Q2 and Q3 making up the lower end. The highest peak in the five-year analysis was in Q4 2011, with 68%. [Zillow]
