Phoenix area neighborhoods are known for having a large variety living options that suit any demographic, including millennials. For reference, “millennials” include those who are currently between the ages of 18 and 34, who view home ownership completely different from older generations. Their income suffers from college debt and mistrust of credit, and they are having less children or planning on having children later on in life. These changes indicate how the properties they are looking for might be different from what you would expect.
What are Millennials Looking for in a Home?
If these young adults are reluctant to buy a home in Phoenix AZ, you have to find Phoenix area neighborhoods that are diverse in location, entertainment, and local events. Things to consider would be locational proximity to public transportation, highways, unique restaurants, community gatherings, and nightlife fun. Here are a few examples of neighborhoods that appeal to millennials:
Tempe is a city that is known for embracing college culture and offering weekly activities, local music, and festivals like Tempe Festival of the Arts. Mill Avenue District is full of distinct eateries and weekend bar crawls that draw in a population of younger residents. With a low average rent and access to four major freeways and the Metro Light Rail system, this city is perfect for millennials.
It’s important to remember that millennials include young adults above the age of 30. Glendale is a great place for new families and singles alike to take residence. There are countless shopping and entertainment districts such as Arrowhead (P83), Westgate, and the Tanger Outlets. Weekends can be spent at the AZ Broadway Theatre, or at one of the many local sports arenas at the University of Phoenix Stadium, Gila River Arena, or Peoria Sports Complex. With affordable AZ rentals as well, truly making Glendale an excellent balance of a place for work and play.
Central City (nicknamed CenPho) is the heart and culture of Arizona’s great capital with a community that can’t be beat. Holiday markets, nearby festivals, live music, and amazing food options are just a few of the things that would bring millennials to this neighborhood. With the Metro Light Rail system at their dispense, residents of this city enjoy being able to choose from a large mix of downtown historic districts and modern entertainment choices.
Gilbert is ideal for millennials looking for Phoenix-area neighborhoods that encourage you to go out and try new things. While they do have places for urban shoppers like Gilbert Town Square and SanTan Village, Gilbert is an exceptional city for outdoorsy people. All residents can partake in fishing at Canyon Lake or hiking the Apache Trail or Fish Creek Canyon. Gilbert Old Town Heritage District is also fun to explore with friends and family all year round. It’s easy to see why many educated, growing young professionals choose to move here.
Knowing What Your Clients Want
Keeping up with real estate trends can get complicated when you have to compare what each generation is looking for. You need to know how to find Phoenix area neighborhoods that reflect your client’s needs, no matter what age they are. Millennials are unique in the way that they approach home buying and are looking to settle down much later than past generations ever have. Realtors at Century 21 Northwest Realty understand how to get this ever-evolving generation into a home that can keep up with their fast-paced lifestyles.
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