More DFW Home Buyers Are Valuing Walkability, Presenting Problems For Millennials

Posted by Kenneth G. Cox on Monday, June 29th, 2015 at 2:47pm

Downtown Dallas Real Estate For Sale`

For those of us who work in the DFW real estate industry and are around it on a day-in, day-out basis, the trend that more Dallas-area residents are wanting to move to the city’s urban core is of little-to-no surprise. Development in neighborhoods like Uptown, downtown Dallas, Deep Ellum, and the Design District has been widespread over the last couple years, and being able to walk to restaurants, retail shops, entertainment, and even work in some cases is becoming more and more appealing to home buyers of all ages, not just Millennials.

But as the value of walkability continues to rise, what’s also becoming more apparent is that young and first-time home buyers are starting to be priced out of hot downtown neighborhoods, ultimately forcing them to rent or look outside of the best urban hotspots.

According to a survey conducted by the Urban Land Institute back in late 2014, roughly 29% of Millennial respondents with full-time jobs earn less than $35,000 a year, with more than half earning less than $50,000 a year. And while that may seem like a decent living in some markets, it’s rarely enough to buy a home in the heart of many downtown markets, which certainly includes a number of downtown neighborhoods in Dallas.

But unlike some generations, Millennials seem to be positive by nature, with many predicting they’ll be at the same or in a better financial position than their parents were at that same age, who also fully expecting to own a home at some point in their lives.

So while the downtown Dallas real estate market continues to thrive, don’t count out the Millennial generation from buying just yet, even if it’s not in the immediate future.

ARE YOU A MILLENNIAL LOOKING FOR A NEW HOME OR CONDO? VIEW SOME OF DOWNTOWN DALLAS' MOST AFFORDABLE CONDOS BELOW!

3025 Bryan Street 1a, Dallas
  • Residential
  • 1 Beds
  • 1 Baths
  • 712 SqFt

3025 Bryan Street 1a, Dallas

$250,000
1122 Jackson Street 1003, Dallas
  • Residential
  • 1 Beds
  • 1 Baths
  • 1,120 SqFt

1122 Jackson Street 1003, Dallas

$245,000
3105 San Jacinto 106, Dallas
  • Residential
  • 2 Beds
  • 2 Baths
  • 1,098 SqFt

3105 San Jacinto 106, Dallas

$240,000
New
1122 Jackson 308, Dallas
  • Residential
  • 1 Beds
  • 1 Baths
  • 1,065 SqFt

1122 Jackson 308, Dallas

$239,000
3105 San Jacinto Street 101, Dallas
  • Residential
  • 2 Beds
  • 1.1 Baths
  • 947 SqFt

3105 San Jacinto Street 101, Dallas

$235,000
3015 Bryan Street 3b, Dallas
  • Residential
  • 1 Beds
  • 1 Baths
  • 876 SqFt

3015 Bryan Street 3b, Dallas

$235,000
2502 Live Oak Street 316, Dallas
  • Residential
  • 1 Beds
  • 1 Baths
  • 894 SqFt

2502 Live Oak Street 316, Dallas

$230,000
1122 Jackson Street 506, Dallas
  • Residential
  • 1 Beds
  • 1 Baths
  • 1,028 SqFt

1122 Jackson Street 506, Dallas

$229,900
1122 Jackson Street 208, Dallas
  • Residential
  • 1 Beds
  • 1 Baths
  • 1,065 SqFt

1122 Jackson Street 208, Dallas

$229,900
1001 Belleview Street 105, Dallas
  • Residential
  • 1 Beds
  • 1 Baths
  • 865 SqFt

1001 Belleview Street 105, Dallas

$229,000
1122 Jackson Street 811, Dallas
  • Residential
  • 1 Beds
  • 1 Baths
  • 1,039 SqFt

1122 Jackson Street 811, Dallas

$225,000
3025 Bryan Street 3g, Dallas
  • Residential
  • 1 Beds
  • 1 Baths
  • 876 SqFt

3025 Bryan Street 3g, Dallas

$218,900
1200 Main Street 2608, Dallas
  • Residential
  • 2 Beds
  • 1 Baths
  • 880 SqFt

1200 Main Street 2608, Dallas

$215,000
1122 Jackson Street 817, Dallas
  • Residential
  • 1 Beds
  • 1 Baths
  • 911 SqFt

1122 Jackson Street 817, Dallas

$209,900
New
3033 San Jacinto Street 312, Dallas
  • Residential
  • 1 Beds
  • 1 Baths
  • 973 SqFt

3033 San Jacinto Street 312, Dallas

$204,900
1122 Jackson Street 617, Dallas
  • Residential
  • 1 Beds
  • 1 Baths
  • 911 SqFt

1122 Jackson Street 617, Dallas

$199,900
509 Elm Street 201, Dallas
  • Residential
  • 1 Beds
  • 1 Baths
  • 630 SqFt

509 Elm Street 201, Dallas

$199,000
1122 Jackson Street 219, Dallas
  • Residential
  • 1 Beds
  • 1 Baths
  • 954 SqFt

1122 Jackson Street 219, Dallas

$197,500
New
2502 Live Oak Street 322, Dallas
  • Residential
  • 1 Beds
  • 1 Baths
  • 681 SqFt

2502 Live Oak Street 322, Dallas

$189,900
1200 Main Street 2002, Dallas
  • Residential
  • 1 Beds
  • 1 Baths
  • 660 SqFt

1200 Main Street 2002, Dallas

$189,500
3015 Bryan Street 2h, Dallas
  • Residential
  • 1 Beds
  • 1 Baths
  • 712 SqFt

3015 Bryan Street 2h, Dallas

$185,000
3105 San Jacinto Street 313, Dallas
  • Residential
  • 1 Beds
  • 1 Baths
  • 762 SqFt

3105 San Jacinto Street 313, Dallas

$155,000

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Listing information last updated on September 15th, 2019 at 5:30am CDT.

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