Top 15 Cities Where Millennials Are Moving in the US
In this article, we will take a look at the top 15 cities where millennials are moving in the US. If you would like to skip our discussion on the relocation trends, you can go to the Top 5 Cities Where Millennials Are Moving in the US.
Millennials are leaving their mark on the United States both culturally and demographically. This population segment, which is fast approaching middle age, is currently the largest one in the US.
In 2022, 25% of millennials made a move to a different city, according to SmartAsset. By 2023, millennials comprised 18% of the total population relocating between states. Studies have identified three primary motives driving millennials to move: access to better and more affordable housing, the pursuit of new job opportunities, and the desire to establish their own households. Hence, it comes as no surprise that the best cities for millennial families and the best cities for single millennials offer a blend of job growth, low cost of living, affordable housing, and decent quality of life.
Affordable housing is one of the key reasons millennials move to a new city. Data from a recent survey by GOBankingRates showed that 32% of all millennial respondents moved to different states within the last two years in search of more affordable housing options. Data from Harvard's Joint Center for Housing Studies indicates a trend of millennials migrating to suburbs, where housing tends to be more budget-friendly compared to urban areas. Despite the attractiveness of urban amenities, the affordability factor outweighs the desire for proximity to such amenities in urban areas.
Closely associated with affordable housing is lower cost of living, a trend observed in areas where millennials are relocating, as highlighted in the Annual 2023 United Van Lines National Movers Study. This study shows that a significant portion of Americans are relocating eastwards and southwards. Moreover, it reveals that people are moving to less expensive areas that offer amenities comparable to major metropolitan cities.
Impact of Remote Work on Millennial Migration
New job opportunities or transfers are another reason driving millennials to relocate. Statistics show that 13% of millennials have moved within the last couple of years, specifically for employment reasons. Millennials exhibit a higher likelihood of moving between cities for job-related purposes compared to other generations. Furthermore, the COVID-19 pandemic has played a key role in promoting the trend of remote work. This newfound flexibility in work arrangements has led to an increasing preference for remote work among millennials, influencing their relocation decisions.
The preference for remote work among employees has led many Fortune 500 companies to continue hiring remote workers. Many of these companies have also made it to the Fortune Best Workplaces for Millennials 2023 list. These companies include Atlassian Corporation (NASDAQ:TEAM), NVIDIA Corporation (NASDAQ:NVDA), and HubSpot, Inc. (NYSE:HUBS).
Atlassian Corporation (NASDAQ:TEAM), an Australian company providing products and solutions for project managers and software developers, has a “Team Anywhere” policy. This innovative program grants employees the freedom to work and live in any location where Atlassian Corporation (NASDAQ:TEAM) has a presence. While some essential in-person interaction is encouraged with up to four annual office visits, the policy prioritizes remote work.
Nvidia Corporation (NASDAQ:NVDA) is a well-known technology company. Despite having luxurious office spaces, Nvidia remains committed to providing remote-working options for its employees. Currently, the company has over 26,000 employees.
HubSpot, Inc. (NYSE:HUBS) is another Fortune 500 firm offering remote working options. In a move to empower its workforce, HubSpot, Inc. (NYSE:HUBS) introduced a flexible work arrangement program in January 2021. This program provides employees with the autonomy to choose from three work models that best suit their needs and preferences, namely office-centric, remote, or hybrid.
Our Methodology
To compile the top 15 cities where millennials are moving in the US, we analyzed data from the US Census Bureau for over 250 medium to large-sized cities. Millennials were defined as individuals aged 25 to 44 years old. The cities have been ranked based on the rate at which millennials moved in as a percentage of the city's total population as of 2022. Furthermore, we have provided the number of millennials who relocated to each city in 2022 to give an idea of the scale of migration.
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Top 15 Cities Where Millennials Are Moving in the US
15. Washington, District of Columbia
Millennials who Moved in as a Percentage of the Population: 9.76%
Number of Relocated Millennials: 64,492
Washington, District of Columbia, has seen an increase in young adults. Between 2000 and 2010, young adults (20-34 year-olds) accounted for nearly all of the city's population growth, marking an increase of 23%. Since then, millennials have fueled half of D.C.'s growth. This influx is likely due to the city's stable economy, which offers attractive job opportunities.
14. Columbia, South Carolina
Millennials who Moved in as a Percentage of the Population: 9.79%
Number of Relocated Millennials: 13,459
Columbia, South Carolina, has become a magnet for millennials due to several factors, including its lower cost of living, pleasant climate, convenient commute options, outdoor entertainment offerings, and promising job prospects, particularly in the healthcare and technology sectors. Studies indicate that Columbia ranks among the nation's most sought-after destinations for millennials.
13. Alexandria, Virginia
Millennials who Moved in as a Percentage of the Population: 9.85%
Number of Relocated Millennials: 15,080
Alexandria, a historic city in Virginia, has become a hotspot for millennials, drawing them in large numbers. In 2022, almost 10% of its population comprised newcomers. Millennials constitute nearly 40% of Alexandria's residents. Among the various neighborhoods in Alexandria, Old Town stands out as particularly appealing to young adults. Over the past five years, the millennial population in this area has increased by over 26%, positioning it as the second-fastest growing millennial hub in Virginia.
12. Boulder, Colorado
Millennials who Moved in as a Percentage of the Population: 10.05%
Number of Relocated Millennials: 10,544
Boulder, Colorado, is at the twelfth position on our list of cities where millennials are moving in the US. In 2022 alone, over 10,000 new millennials moved into the city.
11. Savannah, Georgia
Millennials who Moved in as a Percentage of the Population: 10.45%
Number of Relocated Millennials: 15,303
Savannah is an attractive destination for relocation, primarily due to its affordable housing options and lower cost of living. The city has been continuously ranked as one of the most affordable cities. Savannah's average cost of living is 6% lower than the national average, and the median sale price for housing in the city is about $234,700. The primary reason communicated by the 15,303 US residents who recently relocated to Savannah was also affordability.
10. Sandy Springs, Georgia
Millennials who Moved in as a Percentage of the Population: 10.49%
Number of Relocated Millennials: 11,210
Sandy Springs, Georgia, a suburb of Atlanta, is among the top 10 US destinations for millennial movers. Over 10% of its residents are millennials who recently moved into the city. This influx, largely from out-of-state, is likely driven by Georgia's thriving film industry and the city's established community.
9. Austin, Texas
Millennials who Moved in as a Percentage of the Population: 10.71%
Number of Relocated Millennials: 103,461
In 2022, more than 103,000 millennials made their way to the city, constituting over 40% of its overall population. Austin's reputation for technological advancement serves as a major draw, attracting a growing number of millennial movers to the opportunities offered in the Lone Star State. Austin is at the ninth position on our list of the top 15 cities where millennials are moving in the US.
8. Killeen, Texas
Millennials who Moved in as a Percentage of the Population: 10.81%
Number of Relocated Millennials: 16,853
Killeen is the 8th most popular city for millennials aged 24 to 44 to move to. Over 16,850 millennials have relocated to the city in 2022. Killeen has the second-lowest median age, at 30.4 years, among all the cities on the list.
7. Bellevue, Washington
Millennials who Moved in as a Percentage of the Population: 11.31%
Number of Relocated Millennials: 17,131
Bellevue ranks among the top 10 most popular cities for millennials. Bellevue welcomed 17,131 new millennials, constituting 11.31% of its population in 2022. The Seattle-Bellevue metro area also recorded the addition of 127,000 jobs in the information and technology industry between 2020 and 2022, further enhancing its appeal to millennials.
6. Arlington, Virginia
Millennials who Moved in as a Percentage of the Population: 11.54%
Number of Relocated Millennials: 26,699
Arlington, Virginia, attracts millennials, particularly those from out of state. Overall, millennials account for nearly 40% of Arlington's residents. The city's youthful atmosphere is evident in its median age of 35.6 years.
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Disclosure: None. Top 15 Cities Where Millennials Are Moving in the US is originally published on Insider Monkey.