Much has been made about the delay in household formation and upward mobility that is keeping the millennial generation out of the first-time home buyer market. As the National Association of Realtors puts it, "A flurry of financial obstacles and lifestyle choices are stalling the journey to home ownership for many young adults." The Realtors want to help.

To that end, the group on Thursday was out with an analysis of Census and other data that identifies the top-10 markets for millennial home buyers. The markets are defined as metro areas with steady job growth and lower qualifying incomes needed to buy and are ranked based on employment gains, population trends, income levels and housing conditions in the largest 100 metro areas across the country.

“Even with potentially higher incomes, prospective millennial home buyers residing in some of the most expensive cities in the country face the onerous task of paying steep rents while trying to save for an adequate down payment,” said Lawrence Yun, NAR chief economist. “However, for those currently living in or looking to move to a more affordable part of the country, there are metro areas right now with solid job growth and that offer a smoother path to home ownership.”

Other markets NAR identified for having promising potential for millennial home buyers include Boston, Dallas, Des Moines, Iowa, Jacksonville, Florida and Nashville, Tennessee.

Yun explained that during the early stages of the economic recovery, some of the largest metro areas – such as New York and parts of California – were attractive to millennials for their strong job markets, but their higher costs of living made it difficult to buy. Now that many more affordable, middle-tier cities have mostly recovered from the downturn and are once again experiencing robust job growth, millennials moving to some of these cities will likely realize they’re earning enough to purchase their first home.

“An overwhelming majority of young renters recently said they eventually want to buy a home,” said Yun. “As long as new and existing-home supply keeps up to meet demand and holds prices from rising too quickly, these identified areas are poised to lead the way in helping millennials realize their American Dream of becoming a homeowner.”

Here's what the Realtors said about each of the Top-10 markets:

Austin, TX
Share of Millennial Movers : 29.4%
Qualifying Income: $43,635
Median Household Income: $51,810

  • - It is not arbitrary that Austin is called the "live music capital of the world". While Millennials often want to live in "vibrant" places, Austin had the largest number of Millennials living (18%) and moving (29%) in the area among the 100 largest metro areas.
  • - Austin also is called the "Silicon Hills" because of the concentration of tech giants . Employment grew tremendously (4.9%) over the 12-month period ending in March 2016 pushing the median household income up and enabling Millennials to buy a home. Median household income of Millennial movers was above $46,200 which was the national level for this group in 2014.

Charleston, SC
Share of Millennial Movers : 24.5%
Qualifying Income: $41,369
Median Household Income: $47,903

  • - Charleston is the home of a large number of Millennials. 16% of the population was 25 -34 years old while the average for the 100 largest metro areas was 14%.
  • - Both the median household income and the home-ownership rate for Millennials who moved recently were higher than the national average.

Denver, CO
Share of Millennial Movers : 27.7%
Qualifying Income: $56,234
Median Household Income: $50,923

  • - Denver was among the top five metro areas with the largest number of Millennials living and moving in the area.
  • - Although home prices are rising because of the tight inventory in the area, Millennials continue to buy homes. More than one-in-five Millennials (22%) who moved recently in the area owned a house. Also, the home-ownership rate for Millennial movers was higher than the average rate for the 100 largest metro areas.
  • - Though home prices are rising fast, it is still much affordable compared to California, where many new residents are arriving from.

Minneapolis, MN-WI
Share of Millennial Movers : 27.4%
Qualifying Income: $38,087
Median Household Income: $55,066

  • - With many major employers in the financial services and retail industries established in the area, Minneapolis has experienced a solid influx of Millennials. 28 percent of the movers were 25-34 years old while the average for the 100 largest metro areas was 23 percent.
  • - Almost 30 percent of the Millennials who moved in the area bought a house while the average was 21 percent. The affordability of houses in the area is one "push" factor for Millennials to buy a home.

Ogden, UT
Share of Millennial Movers : 24.6% Qualifying Income: $29,005
Median Household Income: $54,608

  • - Ogden is a small metro area which has one of the best combinations of low home prices and a relatively high median household income. In 2014, Millennials who moved recently earned almost twice as much the qualifying income for first- time home buyers in the area.
  • - Among the 100 largest metro areas, Ogden had the highest home-ownership rate for Millennials who moved recently (40%). Millennials choose to live and move in the area where houses are affordable and job growth has been tremendous (6.0%). Employment grew three times as much nationwide.

Portland, OR-WA
Share of Millennial Movers : 26.7%
Qualifying Income: $51,847
Median Household Income: $44,792

  • - Millennials have moved to Portland, where the economy is booming and the employment grew (3.2%) more than nationwide.
  • - Although home prices are rising, the share of Millennial movers who bought a house in 2014 increased 4% over 2013 while the average increase was 1%.
  • - Among the major cities along the Pacific Coast, it is the most affordable metro market.

Raleigh, NC
Share of Millennial Movers : 25.7% Qualifying Income: $37,815
Median Household Income: $49,892

  • - While Raleigh (along with Durham and Chapel Hill) is home to the largest and most successful research parks, 26 percent of the those who moved in the area were 25 -34 years old.
  • - Employment grew 4.8% over the 12-month period ending in March 2016. Job growth has been very strong especially in technology related positions, increasing the median household income of Millennials more than the average for the 100 largest metro areas ($45,000). As a result, Raleigh had much higher home-ownership rate for Millennial movers (30%) than the average (21%).

Salt Lake City, UT
Share of Millennial Movers : 27.2% Qualifying Income: $43,345
Median Household Income: $51,930

  • - Salt Lake City had the second highest population share of Millennials (17%) after Austin.
  • - While the median household income was higher than the average ($45,000), the home-ownership rate for Millennial movers was 24 percent.
  • - High birth rate keeps the city young.

Seattle, WA
Share of Millennial Movers : 29.0%
Qualifying Income: $64,645
Median Household Income: $64,294

  • - With record-high prices in Silicon Valley, Seattle has experienced the second highest influx of Millennial movers after Austin.
  • - Employment growth in the area is very promising (3.3%) and higher than the national growth.
  • - Comparing the median household income with the qualifying income for first-time home buyers, nearly half of Millennials can afford to buy a home. Also, the share of Millennial movers who bought a house in 2014 increased 4.4% over 2013 while the average increase was 1%.

Washington, DC-VA-MD-WV
Share of Millennial Movers : 28.3%
Qualifying Income: $69,576
Median Household Income: $69,874

  • - Washington, D.C. was among the top three metro areas with the highest share of Millennial movers (28%).
  • - Since there was not a significant increase in home prices in the area in 2015, many Millennials can afford to buy a home. In 2014, among the 100 largest metro areas, Washington, DC was ranked 6th for highest median household income of Millennials movers. Thus, the median household income of the Millennials who moved recently was much higher to the national ($46,200)
  • - As a result, the home-ownership rate for the Millennials who moved recently was higher than the average of the 100 largest metro areas. More than one- in-five Millennials who moved in 2014 owned a house (21%).

For a chart listing the resuts of the NAR analysis for all top-100 metros, click here.