Millennials, born from 1981 to 1996, are a generation on the move. They are looking for more affordable living, a positive job outlook, and a balance between work and a fulfilling personal life. These are the seven best US cities for millennials to move to, whether or not they can afford their first home or if they’re looking to make their first offer on a house.
Additionally, the job market uncertainty has had a significant impact on millennials, many of whom are struggling to secure stable employment and financial stability. This uncertainty has also affected their ability to enter the real estate market, with many millennials postponing homeownership due to the high costs associated with buying a home.
Additionally, the COVID-19 pandemic has further exacerbated these challenges, as job losses and economic downturns have made it even harder for millennials to save for a down payment or qualify for a mortgage. As a result, many millennials are opting for more flexible and affordable rental options, which has led to an increase in demand for rental properties and a decrease in the demand for home purchases. Overall, the job market uncertainty and economic anxiety shown by a recent Checkr study has had a profound impact on the real estate industry, with millennials representing a significant demographic affected by these changes.
With that in mind, let’s take a look at the cities Millennials are loving right now.
Denver has one of the largest concentrated populations of millennials in the US, representing up to 34% of the people living in some of the downtown neighborhoods. This is a more expensive city for millennials with high average rents. With a well-paying job, the quality of living more than makes up for the costs. You can enjoy lots of parks and climbing on rocks at the nearby Rocky Mountains, or even ski.
While Nashville may be known for country music, it has a diverse collection of industries in health care, compounding pharmacies, finance, publishing, and music production. This gives millennials in the city plenty of employment sectors to choose from. The vibrant nightlife and sprawling neighborhoods mean millennials can always find something to do, from trying one of the many local breweries or attending city festivals.
Seattle is a great place for millennials seeking employment in the booming tech industry. This city has one of the largest tech sectors in the country, which gives millennials job opportunities to work in the industry for big-name companies, such as Microsoft. Although Seattle does have one of the most expensive housing markets in the US, it has accessible public transit around the city. The city’s location on Puget Sound and many parks around the city provides plenty of outdoor activities to keep millennials busy.
The millennials moving to Jacksonville will live in a city with multiple beaches, but at an affordable price. The city has a low unemployment rate, and average housing prices are lower in Jacksonville than national prices. The artistic neighborhood of Riverside has one of the largest increases in the millennial population across the city. The draw of the neighborhood likely comes from eclectic shops, trendy restaurants, and high walkability ratings. Additionally, it’s even featured on a new list for the top summer vacation cities in the U.S.
San Jose, California
More than 13% of people living in San Jose are millennials. San Jose also has growing incomes, although the average rent is high in the city. Across the city, there are lots of neighborhoods popular with millennials from the bustling downtown area to manicured Rose Garden and Japantown.
Minneapolis is a Midwestern city with a family-friendly vibe and a great safety ranking — suburbs like Edina are some of the safest places in America. Minneapolis is a city with amazing public schools for kids of all ages, and that goes a long way as concerns with school systems, student transportation and other issues ramp up. Additionally, with great restaurants and an abundant number of the craft breweries millennials love, this city attracts an increasing number of millennials. For an urban city, it has an affordable median rent of just under $1,800 per month. It shares proximity to its sister city of St. Paul, which helps millennials find even more things to explore.
The nation’s capital of Washington, D.C., is a magnet for millennials for many reasons. Millennial Wages in D.C. are the highest in the nation. Despite the political environment, millennials in this city are some of the best off in terms of mental health. This small city has a lot of public transit options. Local metropolitan trains go to the suburbs of D.C. Trains leaving the city even go to larger cities along the east coast, such as Boston. This makes it easy for millennials to travel, a popular activity for this generation.
Although they enjoy city living, millennials want a balanced lifestyle. Each of these cities provides a unique experience but has something for every millennial from affordable rent to beach-style living. These cities are some of the best for millennials.