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With the oldest millennials now approaching their mid-40s, the generation has emerged as the foundation of the U.S. housing market. In April, the National Association of Realtors reported that millennials had surpassed baby boomers as America’s largest group of homebuyers, accounting for 38% of the purchasing market.

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So, what do they look for when scoping out the ideal suburbs to grow roots?

“When you’re looking to buy a home as a middle-class millennial, affordability and how close you are to the city are usually the biggest concerns,” said Martin Boonzaayer, CEO of The Trusted Home Buyer. “The key is finding that sweet spot where you can actually afford a house without being too far from the action of a big city.”

Here are a few places where middle-class millennials can get the most bang for their buck.

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Decatur, Georgia

In 2023, SmartAsset reported on Bureau of Labor Statistics data that showed Sandy Springs, Georgia, was one of the top 10 destinations for millennial transplants nationwide. Sandy Springs is around 40 minutes from Atlanta, and like neighboring Marietta, it’s nice but expensive.

The average home value in Sandy Springs is in the high $600,000s. In Marietta, it’s approaching $500,000.

But those aren’t the only two Atlanta suburbs available to the masses of incoming millennials who Urbanize Atlanta said are “by far the generation who favored the state most” in recent years.

“Areas like Decatur give you the best of both worlds,” Boonzaayer said. “They’re more affordable than Atlanta itself, but still close enough to enjoy city life. Decatur is particularly cool. It has a really great mix of old-school charm with newer restaurants and bars that appeal to a younger crowd.”

The average home value in Atlanta-adjacent Decatur is still under $300,000 — albeit only by a few bucks. That’s well below the national average of $361,282 and nearly six figures less than the $395,000 you can expect to pay in the city itself.

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Lakewood and Thornton, Colorado

If the Mountain West is more your speed than the Southeast, you probably know that Denver is a highly competitive market known for bidding wars, waived contingencies and a median home sale price of nearly $600,000.

But that’s not stopping millennials from “taking over Denver,” according to a late 2023 Denver Gazette column that revealed more than 85,000 millennials had flocked to the metro in the preceding year alone.