Money recently published the Top Five Cities in the United States for Millennials to reside. The list focuses on places where job growth is projected to be above average; food, rent, and other necessities are relatively affordable; and there are high concentrations of grocery stores, pharmacies, laundromats, and other amenities. They also considered which cities offer loads of fun bars, restaurants, and leisure activities. While we agreed that all five cities provide Millennials all of these things, there are two that we believe Money failed to mention; Minneapolis and Denver.
Intrigued by this article, we are curious what our top five city’s real estate markets look like and also what $450,000 can get you for a home in each area. Over the next few weeks, with the help of four young and driven brokers, we will look at each city’s housing market and an example of the perfect starter home for a Millennial living in each city.
To begin, here is our list of five of the top cities for Millennials to Reside & Thrive:
If you’re a young professional who needs their latte in the morning, Seattle is the city for you. With a Starbucks store for every 4,000 people, you are pretty much guaranteed to have vanilla frappuccino within a quarter mile of your home. With a thriving start up community and home to large corporations such as Amazon, Microsoft, and Boeing, Seattle ranks #1 for metropolitan cities for Millennials to live in according to Forbes. In the study, Seattle topped the charts because of its median pay at $55,500, 4% unemployment, and 70% job satisfaction rate for professionals. Above average employment opportunities is matched with the killer skyline, walkability, as well as one of the best destinations for foodies and singles.
“I love Atlanta because it is the only place where southern hospitality meets big city living… all with an affordable price tag,” says Molly Parker, local resident who perfectly sums up the draw of this fantastic city. Named Money.com‘s #2 city for Millennials to reside, Atlanta attracts a young, thirsty demographic with its bustling tech scene, unique culture, and a promise of a relatively inexpensive city for its residents. With 26.2% of its population consisting of Millennials, Atlanta is one of the few cities whose job growth (at 14.3% through 2019) is projected to be above the cost for food and necessities.
We know they throw one heck of a 4th of July party at Big Island, so its no surprise that Minneapolis is one of the nations fastest growing populations for Millennials over the past 7 years. Named as the second most affordable city in the nation for Millennials to reside, Minneapolis saw a 25% jump in young adults over the past 7 years, which is the 4th largest gain in the U.S. With well regarded colleges and universities, this city is an attractive hub for young professionals looking for a balance of a stellar education, job opportunities, as well as a healthy lifestyle. As one of the most economically diverse cities in the country, Minneapolis, serves as a headquarters to large firms in agriculture, food, banking, technology, retailing, healthcare, and transportation.
Its with great envy, that we will watch dozens of friends this weekend flock to the “live music capital” for Austin City Limits. Recognized by Money as the number one destination for Millennials to reside, this city provides residents abundant job opportunities (projected job growth through 2019 is a robust 13.3 percent), paired with a lively nightlife and entertainment. Austin also ranks 101 on the affordability index which is comparatively low when looking at other large cities across the U.S.
We are slightly biased for naming Denver on of the top cities for young adults to live in, but we aren’t the only ones who feel this way. Denver was recently recognized by Time as the “mecca for Millennials” stating, “Denver is one of the country’s fastest-growing destinations for millennials, and it’s not just because of what you might call the chemically induced Rocky Mountain high factor.” Recently recognized as the number one big city for job
growth, young professionals can thrive within the city limits with easy access to downtown, and then be 45 minutes away from some of the world’s best ski slopes, hiking trails, and biking. With 2.7 million Millennials living in metro Denver, this generation now makes up the largest population group.