SHREVEPORT, La. (Press Release) — Shreveport ranks among the top ten real estate markets nationwide where millennials make up the greatest share of first-time home buyers, according to a report in Bloomberg Business citing data from Realtor.com.
During the first half of 2015, approximately 44 percent of first time home buyers in Shreveport are ages 25-34, as compared to the national average of 37 percent. That makes Shreveport one of the most millennial-friendly places in the U.S.
“The large percentage of millennials buying homes in Shreveport shows a long term commitment to the city. Shreveport is a great city for millennials to start their careers and families,” said Scott Martinez, President of the North Louisiana Economic Partnership, a regional economic development organization. “Shreveport has the lowest cost of living in Louisiana at 88.9% of the national average, according to the most recent Cost of Living Index. Our economy also provides ample employment opportunities and a highly entrepreneurial business climate.”
As of August 2015, the median list price of a home in Shreveport is $188,000 as compared to $232,000 for the national median list price, according to Realtor.com.
Other recent rankings for Shreveport also attest to a growing economy that provides millennials with economic opportunities and a balanced and desirable quality of life. Forbes ranked Shreveport No. 18 among “Best Opportunity Cities” in 2014, where a person has an easier time making an impact.
North Louisiana is also experiencing an explosive growth in its technology sector. Currently, there are nearly 2,000 technology jobs across the region. Computer Science Corp announced 800 new jobs in Bossier City, La., and IBM announced 400 new jobs in Monroe, La. CenturyLink is currently filling 800 new technology jobs at its headquarters expansion in Monroe, La.
By Alanna Quillen, KTBS 3
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