Growing up in a world where the internet has opened up more possibilities than their parents and prior generations could have ever imagined, millennials are unafraid of picking up and moving to the other side of the country, or halfway across the world, if the right opportunities and experiences present themselves. Gauging the determinants of what millennials are looking for in a place to call home including recreation, cost of living, diversity and more, here are five cities in the U.S. that millennials want to live in.
Houston is the second strongest market in the country, behind the Dallas-Fort Worth area, for those looking to start a new home. Having a median home price of $310K, several communities in the suburbs have artfully mixed residential homes with businesses. With great job opportunities, exciting nightlife, and many parks and trails, it is no wonder why millennials are drawn to this city.
San Francisco, California
San Francisco is the highest-ranked city on the West Coast where millennials want to live. The economy is booming, but some residents fear that the tech industry is increasing the cost of living to excruciating heights. The median home price, with a hefty tag of $849K, is driving some residents to the next popular city on our list.
With an abundance of job opportunities, many different neighborhoods to explore, and a diverse selection of restaurants and bars, along with a laid-back vibe, it is easy to see why millennials are drawn to Seattle. Ranking at number 16 overall of the Best Cities to Live in America, there is a median home price of $455K and an unemployment rate of 4.2 percent. On the other hand, the housing market is so hot right now, it is actually driving residents further away from the city into cheaper suburban neighborhoods.
Salt Lake City, Utah
The Sugar House District is an especially popular neighborhood, with brewpubs and record stores aplenty. It is a seller’s housing market in Salt Lake City due to a low inventory of homes and a high demand for property. The median price of a home is $360K and the unemployment rate comes in at 2.9 percent.
The unemployment rate is a bit higher in Miami at 5.1 percent, and a median home price tag of $370K. Home-buyers that cannot afford the trendy neighborhoods, such as Ocean Front, are moving to up-and-coming areas to get the most for their money. With an abundance of opportunity, culture, and art, millennials will never get bored.