The No. 1 reason millennial Americans aren't purchasing homes is because they simply can't afford it. Not only are home prices high, but young people have other financial priorities, including paying off massive student loans.
But when it comes to price, location matters. Although desirable coastal cities such as New York and Los Angeles might be out of reach, other Southern and Midwestern towns are good bets for millennial home buyers.
GOBankingRates identified the most and least affordable states for millennials to buy homes by analyzing home listing price data from Zillow. For this ranking, GOBankingRates used the national median income for millennials, $60,932, to determine how long it would take to save for a 20 percent down payment, assuming 20 percent monthly savings, and how much the monthly mortgage payment would be.
Here are the 15 states where millennials' paychecks go the farthest toward buying a home.