With 43.5 million millennials making up the US population, it’s worthwhile to find out exactly where this generation is buying and moving. Whether they’re already existing homeowners who are relocating, renters who are entering the housing market for the first time, or are homebuyer hopefuls who are moving out of their parents’ homes, millennials are on the move.
Here is a list of US cities where millennials are flocking to in 2016.
5. Pittsburgh, Pennsylvania
While many millennials may have a warm climate on the mind, others are content to deal with cooler winters if it means paying less on their mortgages. The median list price for homes in this former steel town currently sits at $142,392, which is well under the national average home value of $186,200.
In addition to the low cost to buy a home, millennials also appreciate the convenient public transit in Pittsburgh, as well as the revitalized downtown core that contributes to a vibrant night-life. Right now, 12.3% of the population in Pittsburgh is made up of Generation Yers.
4. Atlanta, Georgia
Not only are millennials moving to Atlanta for better weather and a change of scenery, they’re also heading to this southern city in search of better job opportunities and more affordable lifestyles. Atlanta has been on the radar for a while now; in fact, it’s claimed top title for movers of all ages for the past few years.
But young Americans, in particular, are attracted to the cost of living, affordable housing market, and bustling night-life in Atlanta. The millennial population of the city currently sits at 13.6%.
3. Seattle, Washington
Thanks to a strong tech industry supplying tons of well-paying jobs, millennials who are moving to Seattle are able to afford the steep median home sales price of $510,000. Many techie big-wigs have their head offices in Seattle, including Microsoft and Amazon.
The city has easily become a powerful economic force, attracting high-tech employees, the outdoorsy type, and people who simply enjoy living in a city that’s loaded with top-notch arts and entertainment with a killer landscape. As of late, the population component of millennials in Seattle is currently 14.9%.
2. San Diego, California
While not exactly the cheapest city on this list with a median home sales price of $489,000, millennials are willing to sacrifice housing affordability for some of the amazing perks and amenities that San Diego has to offer. Southern California is already a target for many millennials – and other age groups – but San Diego is playing a particularly strong role in driving millennials to this prime part of the country. The population contribution of millennials in San Diego currently hovers around 15.5%.
The climate itself is already a trait that needs no help promoting. But in addition to the amazing landscapes and weather, young Americans are also attracted to the plethora of solid employment opportunities, predominantly in the biotech industry. They also appreciate the high walkable scores that San Diego boasts in many of its neighborhoods, as well as the ability to live, work and play all within flourishing mixed-use communities.
1. Austin, Texas
The Lone Star State is attracting millennials by the hoards thanks to the strong employment market. In fact, Austin is the fastest growing city in the US, and the 25 to 34-year-olds are playing a key role in this expansion. Right now, 16.5% of the population in Austin is made up of millennials, who are snatching up lots of tech jobs and keeping the unemployment rate in the city and surrounding communities at a low 3.3%.