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Today's News and Features

Where Are Millennials Moving - And Why?

Wednesday, October 18, 2017

By John Voket Research shows that Millennials, individuals aged 18 to 34, are moving more frequently than older adults, relocating to metros that offer better jobs, more affordable housing and livelier social scenes.

In a recent survey of 24,000 renters, Apartment List identified the best metros for millennials, creating an index to grade 75 top U.S. metros on jobs, affordability and livability.

Among the highlights of their survey:

- Pittsburgh, Pa., Provo, Utah and Madison, Wi. top Apartment List’s 2017 list of the best metros for millennials

- Metros where millennials traditionally move, like San Francisco, Los Angeles and New York, fail to make the list of the best metros for millennials due to their high cost of living

- North and South Carolina metros earn the highest livability scores nationwide, while Northeast metros in Connecticut, Rhode Island and Massachusetts earn the lowest livability scores

According to Apartment List researchers, while many metros offer one or two elements important to Millennials, few can provide the trifecta of good jobs, reasonable housing costs and high livability ratings.  

And while large coastal metros from San Francisco to New York City offer strong job markets and plenty of entertainment options, affordability concerns make them a poor choice for many millennials.

Inland metros including Pittsburgh, Provo, and Madison are some of the best options for offering more than just affordable housing options. Provo, the most western locale in the Top 10, is tied with Pittsburgh and Omaha for the highest scoring metros for Millennials.

Researchers said Provo’s strong job growth and low millennial unemployment, combined with high livability scores make the metro a great destination - and more affordable rents allow millennials to save up to purchase a home.

Pittsburgh earned higher than average livability scores among renters particularly satisfied with low crime levels, along with options to date and make friends.

Devastated by deindustrialization in the 1980s, Pittsburgh has been undergoing a revitalization, moving away from factory jobs and welcoming developments by tech giants, such as Apple, Facebook, Google and Uber to its thriving food and art scene.

Source: https://www.apartmentlist.com/rentonomics/best-cities-for-millennials/
 

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