IE Business Daily Business news for the Inland Empire.
Millennial home ownership is on the rise in Moreno Valley.
During the last 10 years, the percentage of homes owned by 18-34 year olds in Moreno Valley has gone up nearly 4.5 percent, according to www.SmartAsset.com, a personal finance website.
That was enough to rank the Riverside County city sixth in the United States in millennial home ownership during the past 10 years.
During that period, the national home ownership rate among millennials fell by abut three percent, according to SmartAsset, which based its finding on a survey of 200 of the largest cities in the United States.
“The fact that we’ve created 20,000 new jobs in the past six years, and MoVal residents’ average household income has increased 36 percent, makes home ownership here a realistic option for millennials,” Mayor Yxstian Gutierrez, himself a millennial, said in the statement. “We’re working hard to keep Moreno Valley a great place to live, work, raise a family and retire.”
