Lehigh Valley is one of the top housing markets in the United States for home purchasers according to two recent research reports by realtor.com.
Lehigh Valley ranked among the top 10 markets for millennial homebuyers (between the ages of 18 and 35) in the Q3 2019 Generational Propensity Report.
The rankings for the Top 10 Markets are based on:
- Household income by age bracket
- Median home sale prices
- Mortgage interest rates
Realtor.com said the top housing markets for millennial homebuyers tend to be mid-sized communities in the Northeast and Midwest, where job prospects are strong and housing prices are lower than in the regions’ larger metropolitan areas. Among the 100 largest markets (by population), Lehigh Valley ranked 6th for millennials buying homes for the third quarter.
Lehigh Valley also was rated as the best performing market in the country for improved year-over-year homebuying affordability in the last 12 months, according to realtor.com’s Q3 2019 Affordability Report.
The report analyzed home prices and availability to potential buyers of all income levels. Lehigh Valley’s affordability score improved by 0.14 since Sept. 30, 2018. That’s the biggest one-year improvement among the country’s 100 largest metropolitan areas. Based on the most recent Census Bureau population estimates, Lehigh Valley is the country’s 69th largest market.
Why are people moving to Lehigh Valley?
The region has been recognized as one of the fastest-growing economies in the nation and is just a short drive away from major mid-Atlantic cities including New York City, Philadelphia, Baltimore, and Washington D.C.
Living in Lehigh Valley, you’ll quickly find that the pace of life allows for less time commuting back and forth from the office and more time establishing a home base within the community, plus some extra time (and money) to taste your way through the local food scene, immerse yourself in arts and culture, and explore the great outdoors with an impressive lineup of parks, trails, and waterways.