Believe it or not, the Washington DC region has the highest percentage of millennials in the entire country. Yes, more than Seattle, more than Los Angeles, more than Chicago, and even more than New York.
Although the definition of a millennial varies depending on who you talk to, most consider millennials to be between the ages of 25 and 34, and due to the looser lending standards, lower insurance premiums, and lots of pent up demand, many Washington DC residents in this age group are expected to make the long-awaited transition from renting to owning some time in 2015. But with so many different neighborhoods to choose from in town, the question many find themselves asking is which parts of the Washington DC area are best for first time millennial homebuyers to consider?
Well, of course many different factors come into play when it comes to making a decision and purchasing a home, but if you are just starting your search and are looking for some ideas that relate to location, here’s a few that might be worth some consideration:
H Street Corridor
Many consider the H Street Corridor to still be up-and-coming, meaning great deals on housing can be found throughout the area. Plenty of restaurants and bars have opened here in the last few years, and if you’re looking for culture and a true urban vibe, the H Street Corridor is probably a good fit. [View what's available at the H Street Corridor...]
Despite Navy Yard being home to a very high concentration of rentals and apartments, it’s also a good location for condos thanks to on-going development in the area that’s just now starting to pick up again after the housing crash. For someone looking to get in early while the neighborhood is still evolving, Navy Yard is perfect. [View what’s available in Navy yard…]
Almost entirely residential, lots of options are available in Petworth, which is primarily why it makes our list. But with that said, there’s also a number of hip coffee shops and cafes in the area that certainly boost the area’s appeal to younger buyers looking for a great value. [View what's available in Petworth…]
Known most Forex Victorian housing stock, Logan Circle has a lot going on. Along with its plethora of housing, Logan Circle is Washington DC’s fastest-growing neighborhood, as well as its most densely populated area. Today, between 20 and 25,000 people call it home with that number growing seemingly daily. All over the neighborhood, there’s lots to see and do making it perfect for young and active homebuyers. [View what’s available in Logan Circle…]
A quaint neighborhood that has the quintessential Washington DC look and feel, Shaw provides great transportation options to DC’s downtown areas and it's perfect for home buyers who want more of a quiet atmosphere to call home, but still well within reach to shopping, dining, and entertainment.[View what's available in Shaw...]