Utah might be a place to find the American Dream.
According to MarketWatch, a new analysis from Development Counsellors International outlined which states are good for millennials “to get a financial foothold and buy a home.”
Iowa proved to be the top state in the nation, with Oklahoma, Nebraska, South Dakota and North Dakota also among the best states for young homeowners, according to the report, which used U.S. Census Bureau data.
Utah, Minnesota, Kansas and Idaho were also ranked high on the list, with 12 percent to 17 percent of people in those states owning a home.
In contrast, states like Oregon, California, Massachusetts and Florida only had between 6 percent and 8.9 percent of young people owning homes.
Tim Manni, a mortgage expert at personal-finance website NerdWallet, told MarketWatch that it’s been increasingly hard for young people to buy homes because of stalled wage growth.
“Wage growth is definitely an issue around the country, and the question becomes: Are wages growing in concert with home prices?” Manni said. “In many places they’re not, and this is going to be a real issue for many young Americans when they decide to purchase their first home.”
Multiple reports from this year put Utah as a frontrunner for millennials.
In March, the Beehive State ranked within the top 20 best states for young people, behind Delaware and Minnesota.
The report, by MoneyRates.com, looked at how the job market affects young people and rental availability, among other factors.
Meanwhile, a report from WalletHub found Utah to be the sixth best state for millennials, just missing out on the top five. Utah ranked higher than Wyoming, Colorado and Nebraska.
The Beehive State earned its high ranking because of millennial homeownership rates and percent of young people in the states, WalletHub reported.
In 2012, Forbes listed Salt Lake City as the fourth-best city for young people thanks to the growth and median salary.
Regardless of millennial appetite for homeownership, Utah may still be keeping the American dream alive, according to Bloomberg's Megan McArdle.
McArdle wrote in March about how Utah bucks nationwide trends and keeps the American dream alive.
She said the state has a unique opportunity for upward mobility since there are so many options for careers.
She also said that the Church of the Jesus Christ of Latter-day Saints helps people stay out of debt and poverty because of volunteer programs.
“The volunteering starts in the church wards, where bishops keep a close eye on what’s going on in the congregation, and tap members as needed to help each other,” she wrote. “If you’re out of work, they may reach out to small-business people to find out who’s hiring. If your marriage is in trouble, they’ll find a couple who went through a hard time themselves to offer advice.”