Homebuyer Blues

This is how long millennials have to save to buy a home in San Antonio

San Antonio home for sale real estate 78247

Over 80 percent of San Antonio millennials plan on buying a home — but few can afford it.

Photo courtesy of Zillow

Buying a home is on the horizon for many San Antonio millennials, but it may be a while before they can do so.

As part of an annual survey, Apartment List questioned millennial renters across the country about their plans for homeownership. The San Antonio metro area lines up with the national trend: A lot of young people want to buy a place, but they can't afford to right now, and they may not be able to any time soon.

Eighty-one percent of metro-area millennials plan to buy a home, but most say they need at least three years to prepare. Affordability is cited as the main reason for holding off, and local millennials aren't underestimating what it will take to buy a home. Survey respondents think they need $16,798 for a down payment, and data from Trulia says they're correct. First-time buyers should have $16,910 in the bank, 20 percent of the median price of a San Antonio-area starter home.

Respondents report having $2,667 in savings, with plans to contribute $187 each month. Based on the savings rate and down payment requirements, they'll need to save for almost six years to buy a home.

Apartment List says there's a disconnect between millennials' homeownership dreams and reality. "Many do not seem to realize their financial predicament — 3 in 4 renters plan to purchase a home within the next five years, but their savings trajectories suggest that they may need a decade or more to afford it," says Apartment List.

The delay in first-time home purchases is part of what Apartment List calls an ongoing affordability crisis that is shaping the future of the housing market.

"Some may choose to delay settling down and having children, while others will migrate to family-friendly cities on the interior of the country. Given the size of the millennial population, either scenario will have a profound impact on homeownership and renting in our society."

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Viral TikTok food critic Keith Lee is now a Texas homeowner

Keith Lee - Facebook

TikTok food critic Keith Lee is now a Texas resident.

Social media sensation and food reviewer Keith Lee has packed his bags and made the big move from Las Vegas to Texas.

The famous food critic "let the cat out of the bag" officially in a recent post on the social media platform TikTok, where he posts all of his restaurant reviews. But he'd already previously revealed that he and his wife, Ronnie, became homeowners in a different video posted in mid-October.

"Not only have those food reviews played a pivotal role in changing me and my family's life, [but] over 150 families' lives across the nation in less than a year's time," Lee said in the video. "And on top of that, I just became the first person in an entire generation to own a house."

Though Lee didn't share which Texas city he and his family moved to, posts on X (formerly known as Twitter) tipped off that he'd moved to Dallas, while at the same time urging fans to give the guy some privacy.

"If you’ve met Keith Lee in Dallas recently don’t be weird and post what area," one X user wrote. "He’s still human & he’s new here. Let’s not ruin it."

Lee is no stranger to Dallas, after having spent a week in Dallas-Fort Worth in February 2024. He visited local restaurants like Brunchaholics, Thunderbird Pies, Halal Fuzionz, and more.

He also made a special visit to Taste Project in Fort Worth to donate $4,000 to support the nonprofit's mission to fight food insecurity.

In June, Lee swing back through Dallas to partner with Microsoft in a project called "The Reheat," to show how the tech company's AI products could help three Black-owned restaurants deal with business surges.

Most recently, Lee returned to Dallas to review the classic and buzzy food offerings at the Texas State Fair, such as a steak kabob, cotton candied bacon, turkey leg tacos, and much more. Maybe the State Fair is what clinched the win over Houston, which he visited in November 2023.

It looks like Lee hasn't spent any time visiting restaurants in San Antonio, but there are discussions on Reddit and the San Antonio Restaurants group on Facebook discussing where users would like to see him stop by one day.

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