Apparently, Detroit Millennials get a lot of bang for their buck. In comparison to cities like New York or San Francisco where Millennials can only afford 165-square-feet and 135-square-feet, respectively, Millennials in Detroit can afford a whopping 3,205-square-foot abode. That number is larger than the national average size of a newly-constructed single-family home, which was 2,453-square-feet in 2014.
This data comes from personal finance company SmartAsset in their latest study that uses research from the U.S. Census Bureau. According to SmartAsset's website, the company gathered information on the median income and median net worth for Americans under the age of 35. With this, SmartAsset then used their "home affordability calculator" to find an "affordability threshold" before researching the average price per square foot of an abode in Detroit. See how other cities in the nation fared with more data below.
· How Much House Can Millennials Afford? [SmartAsset]