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Report: Millennials are buying homes in Wichita

Millennials are buying homes in Wichita at a pace greater than most other U.S. cities, according to a report. (Feb. 9, 2016)
Millennials are buying homes in Wichita at a pace greater than most other U.S. cities, according to a report. (Feb. 9, 2016) The Wichita Eagle

Millennials are buying homes in Wichita at a pace greater than most other U.S. cities, according to a report.

SmartAsset, a personal finance advice website, issued a finding Tuesday that listed Wichita as one of 21 of the largest 200 cities in the country where millennial homeownership has been increasing over the past decade.

In its report, SmartAsset referred to those under the age of 35 as millennials. Citing U.S. Census data, Wichita was ranked fifth on the website’s list of the top 10 cities where millennials have been buying houses since 2005.

In 2005, 43 percent of U.S. adults under the age of 35 owned a home, though that number is just 35 percent today, according to the report. SmartAsset cited affordability as a likely driving factor for the millennial housing market in Wichita.

The millennial ownership rate in Wichita has increased by 4.3 percent since 2005, according to the report, which represents the second-highest increase in the U.S. during that time, behind only Huntsville, Ala.

SmartAsset is based in New York City. For the complete report, visit www.smartasset.com.

Bryan Horwath: 316-269-6708, @bryan_horwath

Top 5 U.S. millennial home-buying markets

1. Port St. Lucie, Fla.

2. Cedar Rapids, Iowa

3. Chesapeake, Va.

4. Cary, N.C.

5. Wichita

Source: SmartAsset

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