A survey of 30,000 American renters recently conducted by Apartment List, an online rental marketplace, found a majority of millennial renters (79 percent) want to buy a home, but that affordability is the biggest obstacle. And the situation's slightly worse in the ATL, the study found.
In Atlanta, 85 percent of millennials (that much-maligned/coveted/discussed demographic with birth years from about 1980 to the early '00s) said affordability was the main issue.
Zeroing in further on Atlanta, 68 percent of millennial renters in our neck of the woods said they just flat out couldn't afford to buy a place. The research also discovered millennial renters in metro Atlanta have each saved about $2,980 as an average downpayment for a home. Based on current savings rates, it would take three years to afford it, according to Apartment List's data.
But hey, just because in Atlanta they're taking their time to make that big decision doesn't mean it's not a prime spot for them to live. Just ask the staff of MONEY magazine, who last year said the Big Peach is the No. 2 spot in the whole country for this age group to call home.