Homebuying Trends: Baby Boomers Outpace Millennials in Purchases.
San Jose, California is the most popular city for millennial homebuyers in the U.S., with 63.57% of mortgages offered to millennials. Denver, Colorado and Boston, Massachusetts follow closely behind. The average down payment among millennials was $144,942, and the average age of those buying in these cities was around 32 years old. These cities offer proximity to prestigious universities and tech hubs, making them attractive to young homebuyers.