Millennials in South Florida are buying more expensive homes than other homebuying groups, as inflation and rising home prices influence the market, new data shows.
The median home purchased by a millennial in the tricounty area is about 2.4% higher than the median home that is purchased by all homebuyers in the area, according to Construction Coverage, an online company for construction and housing needs.
The difference in purchase price among millennials and other generations in South Florida represents the 14th largest gap in the United States among the most populated metropolitan areas. Other metropolitan areas such as Chicago had a gap of 3.1% between millennial purchases and other generations, while the Hartford area had a gap of 3.4%.
