Denver is the second most popular city for millennial homebuyers. The share of mortgages offered to millennials was 61.35%, and the average age of those buying in the city was 32.23.
In February 2023, Denver homes were selling for a median price of $560,000. On average, homes sell after 26 days on the market, compared with five days last year, according to RedFin.
The average down payment among millennials in Denver was $74,477.
Boston rounds out the top three. The share of mortgages offered to millennials last year was 60.59% and the average age was 32.38, according to the Lending Tree study.
Boston gives millennial homeowners proximity to several prestigious universities, including Harvard and Massachusetts Institute of Technology, which have continued to rank as some of the best colleges in the U.S.
The average Boston home value is $610,400, compared with the national average of $244,900, according to Niche.