House hunting in Hays County is challenging for millennials

Running out of rent options in Hays County

BUDA, TEXAS - Millennials who want to live in Hays county are running into a road block.

Real estate analyst Realty Trac looked at 25 U.S. counties where millennials made up 30 percent of the 2014 population. They found it's actually cheaper, in the long run, to buy a home than to rent one.

But that can be easier said than done.

Keller Williams realtor Elaine Brown has seen a lot of changes in the 10 years she's worked in Hays county.

"Buda and Kyle were considered to be way out there, in the sticks."

But, not anymore.

Brown said of the homes for sale in Buda, only five are listed under $200,000.

"They move out here specifically for prices," she said. "They'll usually end up renting a house."

That's another problem for millennials priced out of Austin. These southern suburbs don't have many apartment complexes.

Brown told KVUE she could only think of one or two under construction because new homes are already slated to be built on most of the newly purchased land.

Right now, all of the 24 rental properties currently on the market are homes.

The rents go from $1,350 for a two-bedroom to $4,000 a month.

"They're very young. They may have school debt that's one thing. And their credit may not be so good."

Brown says one of her clients had to put down triple the deposit because their credit score was so low.

So, with all of these obstacles, what do many of her millennial clients decide to do?

"Mom and Dad have a nice home pretty much paid for, so they stay longer," she said.

(© 2017 KVUE)


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