Millennials are flocking to these US cities, study shows
Millennials, those born between the years of 1981 and 1996, will soon represent the largest generation in America’s workforce.
A new study by Haven Life studied where millennials were moving and which cities saw the generation’s population change from 2012 to 2017. The study found millennials were drawn to metropolitan areas that were expensive with high home prices and cost of living but also high wages.
Haven Life analyzed data from the Census Bureau data to determine its findings. The life insurance agency also analyzed data from Zillow to determine its median home prices and information from the Bureau of Economic Analysis’s Regional Price Parity dataset for the cost of living figures.
The study found millennials were flocking to:
Portland-Vancouver-Hillsboro, Ore.-Wash.
The skyline of Portland, Ore. (iStock)
The millennial population grew 22.8 percent with median earnings of $41,054 while the median home price was $346,833.
Seattle-Tacoma-Bellevue, Wash.
Seattle downtown and Space Needle view, Washington, USA (iStock)
The population increased 22.2 percent, while the median earnings were $52,582. The median home price was $399,475.
Denver-Aurora-Lakewood, Colo.
The skyline of Denver, Colo. (iStock)
The millennial population grew 21.3 percent. The median earnings were $45,504 while the median home price was $356,642.
San Francisco-Oakland-Hayward, Calif.
The Golden Gate Bridge in San Francisco, Calif. (iStock)
The population change was 19.2 percent with median earnings at $60,671. The median home price was $699,692.
Austin-Round Rock, Texas
The view of Austin, Texas. (iStock)
The millennial population increased 19.0 percent with median earnings of $45,504. The median home price was $277,517.
Raleigh, N.C.
The view of Raleigh, N.C. (iStock)
The population grew 17.8 percent with a median earning of $42,470. The median home price was $234,942.
Las Vegas-Henderson-Paradise, Nev.
An aerial view of Las Vegas. (iStock)
The millennial population increased 16.4 percent with a median earning of $35,392. The median home price was $226,950.
San Jose-Sunnyvale-Santa Clara, Calif.
The San Jose skyline. (iStock)
The population change was 16.4 percent with a median earning of $65,727. The median home price was $896,242.
Charlotte-Concord-Gastonia, N.C.-S.C.
The view of Charlotte, N.C. (iStock)
The population increase was 15.4 percent with a median income of $39,436. The median home price was $190,917.
Tampa-St. Petersburg-Clearwater, Fla.
The view of downtown Tampa, Fla. (iStock)
The millennial population change was 14.8 percent with a median income of $35,392. The median home price was $181,275.
Some of the cities that were at the bottom of the list were Rochester, N.Y., which saw a 5.3 percent decrease in the millennial population. Virginia Beach-Norfolk-Newport News, Va.-N.C. also saw a 6.6 percent population change. Tucson, Ariz., came in last with a 13.3 percent decrease in the millennial population change.