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Top 10 Cities Millennials are Moving To

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If you were to ask baby boomers where young professionals are moving to, they would probably tell you areas like New York City and Los Angeles, but they would be wrong. Neither of these cities make the list of the top cities millennials are moving to -- most likely due to their outrageous living costs.

It seems that millennials are putting more value in affordable housing and sustainable incomes. So, what cities are millennials moving to?

1. Seattle, Washington

Seattle seems to pop up on every list about American cities that millennials are flocking to. One of the big reasons Seattle is seeing such are large uptick in millennial population is the substantial wages that young professionals are earning. Adequate wages, a fun culture and no state income tax allows for young adults to bloom in Seattle. 

2. Columbia, South Carolina

South Carolina's capital, Columbia, offers big city living with a small town feel. A large amount of the millennials coming to Columbia are from out of state, perhaps for the mild climate. With studio and one bedroom apartments averaging under $800 monthly, it's no wonder millennials are settling down there.

3. Sacramento, California

The west-coast capital city of Sacramento beats out other California cities, because the cost of living is lower. Unlike Columbia, most of Sacramento's millennials come from inside state lines. Young professionals are moving to Sacramento for the affordable housing and to avoid the pricey bay-area real estate.  

4. Austin, Texas

Keeping the state capital train rolling. The Texas capital, Austin, is great for millennials looking to jumpstart their careers. The major reason that millennials are moving to Austin is for the jobs. More than 50 percent of millennials surveyed said that the employment opportunities are a major factor for why they reside there. Although housing costs may be more than other states on this list, the unemployment for young adults is under 4 percent.

5. Minneapolis, Minneapolis

The Midwest is finally getting on the board with Minneapolis and its thriving tech scene. Minneapolis earns this spot for several reasons, including outdoor activities, job opportunities and the low cost of living. They offer tax credits and city loans to subsidize housing for local artists. Similar to Sacramento, most of the millennials moving into Minneapolis are coming from inside state borders. However, winters can be harsh, and taxes are high.

6. Jacksonville, Florida

Jacksonville is the only Florida city that makes an appearance on our list. Aside from the beautiful southern climate, Jacksonville is also popular due to its affordable housing, job opportunities and lack of state income tax. Studies also show that Jacksonville residents are some of the least taxed residents in the nationwide. If you can handle the humidity and possible alligator sighting, this might be the city for you.

7. Newport News, Virginia

Another east coast city, Newport News, Virginia takes its rightful spot on our list. One of the major reason millennials love Newport News is due to the affordable housing. The average rent for a studio apartment in Newport News is under $675. Along with a booming job industry, the proximity to the beach is another factor that keeps millennials flocking to Newport News.

8. San Jose, California

The second California city on our list, San Jose is starting to become a hub for west coast millennials. More than half of the millennials inside of San Jose came from inside California. A major reason for the influx of millennials is the abundance of Silicon Valley jobs in the area. San Jose's housing cost maybe be expensive compared to the nation, but they are significantly cheaper than the cost of real estate in San Francisco. Being in close proximity to the Pacific Ocean and San Francisco also helps drive millennial traffic to San Jose.

9. Denver, Colorado

Denver has seen a large influx of millennials in the recent years. The city is known for its robust start up scene, which helps capture the hearts of young entrepreneurs. If the entrepreneur route isn't for you, Denver has plenty of employers looking for workers -- especially in the aerospace and defense sectors. With beautiful sights and hiking trails in abundance, it is easy to see why young professionals are making their way to Denver, Colorado.

10. Norfolk-Virginia Beach, Virginia 

Norfolk-Virginia Beach claims the last spot on our list of places millennials are moving to. Young professionals seem to like Hampton Roads, with most millennials coming from outside Virginia's state borders. The real estate can be a little pricey here, but it seems that millennials are willing to pay to live near the beach. However, the Tide Light Rail connects the outskirts to downtown, and living here is slightly cheaper. The top industries in the area are health care and leisure/hospitality.

If you are looking to find where a large influx of millennials are moving to, be sure to check the ten cities listed above. The easiest way to find out where millennials are moving is to check areas with good wages and low housing cost.
 

Scott Myers  Posted by Scott Myers on October 4, 2018

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