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Millennials + Rent = Where do I live?

By
Real Estate Agent with KW United | Alexandria/Kingstowne

Millennial's are born between 1981 and 1997 having a knack for technology we are seeing a different generation of home buyers. I will be giving information on some cities in the DMV area best for this new generation. I have provided links to my own website of homes and apartments available right now. If curious just click the names of each city and it will pull up for your view.

 

 

#2 Arlington, Virginia

Named after Henry Bennet, Earl of Arlington and home to the General Robert E Lee, Arlington is saturated in history. But that's not all that this place offers you at night take an Uber and right there is Clarendon a mecca of beautiful restaurant's and booming night life. Places like Spider Kelly's a Chuck-E-Cheese for adults will allow you to get your drink on and play. Diversity is no stranger to Virginia and neither is it to the restaurant options available from Chinese to Mideastern, their are many choices for you to pick from. Don't forget with this young hip neighborhood comes with rent that is worth paying for. According to Benefitspro.com when it comes to home buying median home prices are at $594,800 (the national median is 176,700), and high rents (1,802 compared with $904). Renters make up 55 percent of the population, compared to 45 percent who own their homes. With an A+ in public schools, great for families, health and fitness who wouldn't want to live here. All around A's for commute, outdoor activities and last but not least diversity. Jobs ranked a little lower on the grade scale at a B+ with weather along the same grade point.

If you are looking in this area just be mindful of the rent and budget correctly because with all of its offerings you may spend quickly.

 

#3 - Alexandria, Virginia

Alexandria with its historic center known as "Old Town" it offers many neighborhoods that are walkable. Largely populated by professionals working in the federal civil service, in the U.S military, or for one of the many private companies which contract with the federal government. A night on the town in this area means everything from live jazz to country line dancing. If you want to grab your boots and hit the dance floor at Nick's Nightclub you can do that.

If you want a more relaxed evening I suggest going to Old Town with its brick road it will lead you to many restaurant choices. Close by the harbor Old Town offers relaxation with many spa's on its street. Winning four A+ grades for diversity, nightlife, outdoor activities and health and fitness on benefitspro.com. Alexandria will be a great place to live while single and when married.

With an A for good for families and a B+ for job rank you cant go wrong. Crime and safety at a B- shows the impressive grade's here in Alexandria, Virginia. When it comes to rent the median home values are $494,400, while median rents are 1,520, and 57 percent of residents rent compared to 43 percent of who own. Median household income comes at $87,319, compared with a national $53,046. Be prepared to spend a lot of your income on your place.

 

#9 - Washington, District of Columbia

America's capitol and home to the White House who wouldn't want to live here. While the President is home, you too can be at home in a nice townhome or apartment offered in DC. With nightlife that excites every college student it houses prepare for a lot to do. With the Smithsonian, National Mall, National Zoo and monuments that document our history there's plenty here for a family or single. If comfort food is your favorite kind of food try Marvin's on 14st named after music legend and DC native, Marvin Gate, Marvin's serves up southern cuisine. Rated A+ for nightlife, diversity, outdoor activities, and health and fitness. A for commute if you avoid the beltway and a B for weather, public schools and good for families. Jobs have a B-; real estate rates a C and both cost of living and crime and safety only get a C-. Rent being high at $1,302 its tougher to see how 58 percent who rent manage. You will need slightly above the national median household income of $69,235 to make it here.

 

Well there you go Millennial's the breakdown of the some of the best places to live here in the DMV. If you need any assistance in this process or have question's about payment options you can reach me via my website at reshawnaleaven.com.

 

 

 

 

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R​ESHAWNA LEAVEN​, REALTOR​​®
Licensed in Virginia, Maryland & DC
​Schedule an Appointment​
​​Direct: (240) 284-4114
​KW United​ - Alexandria/Kingstowne
5971 Kingstowne Village Pkwy, Suite 110
Alexandria, Virginia 22315 
Each office is independently owned and operated
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Reshawna, great post, as most young individuals do have a hard time figuring out where to live!

Aug 03, 2016 09:32 AM