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!

New
1122 Jackson Street 520, Dallas
  • Residential
  • 1 Beds
  • 1 Baths
  • 1,024 SqFt

1122 Jackson Street 520, Dallas

$250,000
1200 Main Street 2307, Dallas
  • Residential
  • 1 Beds
  • 1 Baths
  • 880 SqFt

1200 Main Street 2307, Dallas

$249,900
1001 Belleview Street 402, Dallas
  • Residential
  • 1 Beds
  • 1 Baths
  • 830 SqFt

1001 Belleview Street 402, Dallas

$245,000
3015 Bryan Street 3e, Dallas
  • Residential
  • 2 Beds
  • 2 Baths
  • 1,187 SqFt

3015 Bryan Street 3e, Dallas

$244,923
1111 S Akard Street 412, Dallas
  • Residential
  • 2 Beds
  • 1 Baths
  • 984 SqFt

1111 S Akard Street 412, Dallas

$243,000
1122 Jackson Street 818, Dallas
  • Residential
  • 1 Beds
  • 1 Baths
  • 1,156 SqFt

1122 Jackson Street 818, Dallas

$239,999
New
1122 Jackson Street 509, Dallas
  • Residential
  • 1 Beds
  • 1 Baths
  • 1,111 SqFt

1122 Jackson Street 509, Dallas

$230,000
2502 Live Oak Street 320, Dallas
  • Residential
  • 1 Beds
  • 1 Baths
  • 851 SqFt

2502 Live Oak Street 320, Dallas

$226,000
1505 Elm Street 401, Dallas
  • Residential
  • 1 Beds
  • 1.1 Baths
  • 1,059 SqFt

1505 Elm Street 401, Dallas

$225,000
1505 Elm Street 1101, Dallas
  • Residential
  • 1 Beds
  • 1.1 Baths
  • 1,217 SqFt

1505 Elm Street 1101, Dallas

$224,900
New
1122 Jackson Street 716, Dallas
  • Residential
  • 1 Beds
  • 1 Baths
  • 1,066 SqFt

1122 Jackson Street 716, Dallas

$224,000
1200 Main Street 1208, Dallas
  • Residential
  • 1 Beds
  • 1 Baths
  • 880 SqFt

1200 Main Street 1208, Dallas

$219,000
3015 Bryan Street 3b, Dallas
  • Residential
  • 1 Beds
  • 1 Baths
  • 876 SqFt

3015 Bryan Street 3b, Dallas

$214,950
1122 Jackson Street 817, Dallas
  • Residential
  • 1 Beds
  • 1 Baths
  • 911 SqFt

1122 Jackson Street 817, Dallas

$212,500
2502 Live Oak Street 237, Dallas
  • Residential
  • 1 Beds
  • 1 Baths
  • 804 SqFt

2502 Live Oak Street 237, Dallas

$210,000
1122 Jackson Street 219, Dallas
  • Residential
  • 1 Beds
  • 1 Baths
  • 954 SqFt

1122 Jackson Street 219, Dallas

$205,000
1200 Main Street 1702, Dallas
  • Residential
  • 1 Beds
  • 1 Baths
  • 660 SqFt

1200 Main Street 1702, Dallas

$205,000
509 Elm Street 201, Dallas
  • Residential
  • 1 Beds
  • 1 Baths
  • 630 SqFt

509 Elm Street 201, Dallas

$159,000

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