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Report: Bakersfield named a top spot for millennial home ownership

Ranked third for second year in a row
Posted at 1:48 PM, Jan 25, 2018
and last updated 2018-01-25 16:48:37-05

Bakersfield was named as a top city where millennials are buying homes, according to a report on Thursday.

Defining millennials as those under 35-years-old, SmartAsset factored the 2016 millennial homeownership rate and the change between that rate from 2007 to 2016. 

What the report found was that Bakersfield took the third spot for the second year in a row.

The report says Bakersfield even scored better than 85% of cities.

One of the main findings from the report is no big city made the top ten list. Millennial homeownership was also found to be dropping, as only 18 cities out of 200 saw homeownership rates increase from 2007, according to SmartAsset.

RELATED: Bakersfield ranked number one most affordable city in California

In 2016, about 37% of millennial households were homeowners in Bakersfield, according to the report, which is a decrease of 1.3% from 2007.

Olathe, Kansas and Chesapeake, Virginia came in ahead of Bakersfield. Two other California cities rounded out the top spots: Santa Rosa and Chula Vista tied in the report.

RELATED: Bakersfield ranked 87 on 150 "Best & Worst Places to Raise a Family"

Read the full report on where millennials are buying homes here.