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 1016, Dallas
  • Residential
  • 1 Beds
  • 1 Baths
  • 1,181 SqFt

1122 Jackson Street 1016, Dallas

$249,900
1200 Main Street 1403, Dallas
  • Residential
  • 1 Beds
  • 1 Baths
  • 757 SqFt

1200 Main Street 1403, Dallas

$249,000
1001 Belleview Street 402, Dallas
  • Residential
  • 1 Beds
  • 1 Baths
  • 830 SqFt

1001 Belleview Street 402, Dallas

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

3105 San Jacinto Street 106, Dallas

$245,000
1122 Jackson Street 811, Dallas
  • Residential
  • 1 Beds
  • 1 Baths
  • 1,039 SqFt

1122 Jackson Street 811, Dallas

$245,000
3025 Bryan Street 1e, Dallas
  • Residential
  • 2 Beds
  • 2 Baths
  • 1,187 SqFt

3025 Bryan Street 1e, Dallas

$244,800
1200 Main Street 1508, Dallas
  • Residential
  • 1 Beds
  • 1 Baths
  • 880 SqFt

1200 Main Street 1508, Dallas

$242,000
1200 Main Street 2608, Dallas
  • Residential
  • 2 Beds
  • 1 Baths
  • 880 SqFt

1200 Main Street 2608, Dallas

$240,000
1122 Jackson Street 916, Dallas
  • Residential
  • 1 Beds
  • 1 Baths
  • 1,066 SqFt

1122 Jackson Street 916, Dallas

$239,000
1122 Jackson Street 208, Dallas
  • Residential
  • 1 Beds
  • 1 Baths
  • 1,065 SqFt

1122 Jackson Street 208, Dallas

$236,500
3015 Bryan Street 3b, Dallas
  • Residential
  • 1 Beds
  • 1 Baths
  • 876 SqFt

3015 Bryan Street 3b, Dallas

$235,000
1122 Jackson Street 617, Dallas
  • Residential
  • 1 Beds
  • 1 Baths
  • 911 SqFt

1122 Jackson Street 617, Dallas

$225,000
3015 Bryan Street 2h, Dallas
  • Residential
  • 1 Beds
  • 1 Baths
  • 712 SqFt

3015 Bryan Street 2h, Dallas

$210,000
2502 Live Oak Street 311, Dallas
  • Residential
  • 0 Beds
  • 1 Baths
  • 681 SqFt

2502 Live Oak Street 311, Dallas

$199,000
509 Elm Street 505, Dallas
  • Residential
  • 1 Beds
  • 1 Baths
  • 780 SqFt

509 Elm Street 505, Dallas

$195,000
1001 Liberty Street 111, Dallas
  • Residential
  • 1 Beds
  • 1 Baths
  • 924 SqFt

1001 Liberty Street 111, Dallas

$190,000
1111 S Akard Street 215, Dallas
  • Residential
  • 1 Beds
  • 1 Baths
  • 814 SqFt

1111 S Akard Street 215, Dallas

$187,500
1001 Belleview Street 103, Dallas
  • Residential
  • 1 Beds
  • 1 Baths
  • 608 SqFt

1001 Belleview Street 103, Dallas

$185,000
3105 San Jacinto Street 210, Dallas
  • Residential
  • 1 Beds
  • 1 Baths
  • 762 SqFt

3105 San Jacinto Street 210, Dallas

$169,000

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Listing information last updated on May 19th, 2019 at 11:15pm CDT.