Home prices are climbing, with the average US home reaching $512,800 in the second quarter of 2025. The national median price hit a record $435,300 in June. Some areas in the Southeast and Midwest are more affordable for first-time buyers, valid for millennial buyers looking to enter the market. The Midwest, in particular, has experienced a surge in real estate activity while remaining among the most affordable regions. Conversely, coastal cities such as San Francisco and New York City present challenges with fewer purchase options for millennials.
The average home in the US sold for over half a million in the second quarter of 2025, at $512,800. The national median price was $435,300 in June.
Many of these areas are mid-sized metros in the Southeast and Midwest. The Midwest has seen a boom in real estate activity in recent months.
The most difficult places for millennials to buy homes are expensive housing markets on the coasts, such as San Francisco and New York City.
Seven out of the 10 median millennial property values on this list are below the national median, making some regions more affordable for younger homebuyers.
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