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!

3105 San Jacinto Street 317, Dallas
  • Residential
  • 2 Beds
  • 2 Baths
  • 1,083 SqFt

3105 San Jacinto Street 317, Dallas

$249,000
2502 Live Oak Street 104, Dallas
  • Residential
  • 1 Beds
  • 1 Baths
  • 1,027 SqFt

2502 Live Oak Street 104, Dallas

$249,000
1505 Elm Street 401, Dallas
  • Residential
  • 1 Beds
  • 1.1 Baths
  • 1,059 SqFt

1505 Elm Street 401, Dallas

$239,500
1200 Main Street 1105, Dallas
  • Residential
  • 1 Beds
  • 1 Baths
  • 757 SqFt

1200 Main Street 1105, Dallas

$233,800
2502 Live Oak Street 314, Dallas
  • Residential
  • 1 Beds
  • 1 Baths
  • 894 SqFt

2502 Live Oak Street 314, Dallas

$230,000
1122 Jackson Street 811, Dallas
  • Residential
  • 1 Beds
  • 1 Baths
  • 1,039 SqFt

1122 Jackson Street 811, Dallas

$225,000
3105 San Jacinto Street 101, Dallas
  • Residential
  • 2 Beds
  • 1.1 Baths
  • 947 SqFt

3105 San Jacinto Street 101, Dallas

$219,900
1001 Belleview Street 105, Dallas
  • Residential
  • 1 Beds
  • 1 Baths
  • 865 SqFt

1001 Belleview Street 105, Dallas

$219,000
3025 Bryan Street 3g, Dallas
  • Residential
  • 1 Beds
  • 1 Baths
  • 876 SqFt

3025 Bryan Street 3g, Dallas

$218,900
1200 Main Street 1512, Dallas
  • Residential
  • 1 Beds
  • 1 Baths
  • 660 SqFt

1200 Main Street 1512, Dallas

$214,999
509 Elm Street 403, Dallas
  • Residential
  • 1 Beds
  • 1 Baths
  • 845 SqFt

509 Elm Street 403, Dallas

$214,000
1122 Jackson Street 817, Dallas
  • Residential
  • 1 Beds
  • 1 Baths
  • 911 SqFt

1122 Jackson Street 817, Dallas

$209,900
2502 Live Oak Street 102, Dallas
  • Residential
  • 1 Beds
  • 1 Baths
  • 752 SqFt

2502 Live Oak Street 102, Dallas

$209,000
2502 Live Oak Street 237, Dallas
  • Residential
  • 1 Beds
  • 1 Baths
  • 804 SqFt

2502 Live Oak Street 237, Dallas

$208,000
1122 Jackson Street 319, Dallas
  • Residential
  • 1 Beds
  • 1 Baths
  • 944 SqFt

1122 Jackson Street 319, Dallas

$200,000
1122 Jackson Street 219, Dallas
  • Residential
  • 1 Beds
  • 1 Baths
  • 954 SqFt

1122 Jackson Street 219, Dallas

$197,500
1122 Jackson Street 821, Dallas
  • Residential
  • 1 Beds
  • 1 Baths
  • 991 SqFt

1122 Jackson Street 821, Dallas

$195,000
3033 San Jacinto Street 312, Dallas
  • Residential
  • 1 Beds
  • 1 Baths
  • 973 SqFt

3033 San Jacinto Street 312, Dallas

$194,900
509 Elm Street 401, Dallas
  • Residential
  • 1 Beds
  • 1 Baths
  • 1,103 SqFt

509 Elm Street 401, Dallas

$190,000
509 Elm Street 201, Dallas
  • Residential
  • 1 Beds
  • 1 Baths
  • 630 SqFt

509 Elm Street 201, Dallas

$188,000
3105 San Jacinto Street 115, Dallas
  • Residential
  • 2 Beds
  • 1.1 Baths
  • 926 SqFt

3105 San Jacinto Street 115, Dallas

$180,000
3015 Bryan Street 2h, Dallas
  • Residential
  • 1 Beds
  • 1 Baths
  • 712 SqFt

3015 Bryan Street 2h, Dallas

$175,000
1001 Liberty Street 122, Dallas
  • Residential
  • 1 Beds
  • 1 Baths
  • 636 SqFt

1001 Liberty Street 122, Dallas

$165,000

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