Best cities for Millennial homebuyers

The Utah Arts Festival takes place every June in downtown Salt Lake City.

Median home price: $233,000
Job growth: 2.4%

Salt Lake City isn't just an outdoor enthusiast's dream, it's also a prime spot for those looking for work.

Unemployment is below 4% and demand for workers is helping to boost wages.

Fields where growth is expected to be most robust include information technology and professional and business services, such as legal, accounting and design services, according to Utah's Economic Development Corporation, a public/private partnership.

The city also ranked number one in a Harvard study of upward mobility, surpassing Silicon Valley havens like San Jose and San Francisco, as well as Boston and New York.

So even though median home prices -- at $233,000 -- are 20% higher than the national median, most first-time buyers are able to afford a home.

First published June 23, 2015: 11:06 AM ET

Source: National Association of Realtors
Rankings were based on employment data, median home prices, home price growth and affordability, as well as the percentage of Millennials living in the metro area and their share of all age groups moving to the area. Median home prices data is for the first quarter of 2014, while job growth figures are for the 12 months through May 2014.

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