The 3 Best Cities for Millennials to Move to This Summer
Millennials Are Finding the American West and South Ideal
Saddled with student debt, it’s not easy for a millennial to save up for a down payment on a new home. But, that’s not stopping a good portion of millennials from taking the leap into homeownership. In fact, according to Ellie Mae, a mortgage software development company, more millennials took out home loans than any other type of loan in April, 2017.
Their solution? Purchasing homes in areas with more affordable housing, in particular, the American west, Midwest, and south. With all that in mind, here are three of the top cities millennials are moving to this summer.
Nashville is a magnet for millennials thanks to its robust job market, quirky atmosphere, and low cost of living. The city is also teeming with higher learning institutions, all of which provide Nashville’s workforce with plenty of talent fresh out of school.
According to Motivated Movers, millennials are lured to Music City for four simple reasons – jobs, music, affordable housing, and things to do. Some of the hottest neighborhoods in Nashville for millennials include Downtown, Sulphur Dell, Germantown, and East German Town.
In Texas, Austin has long been a popular place for millennials to relocate to thanks to its “weird” culture and everything cool. But, in recent years, San Antonio has been creeping up on Austin and making a strong effort to take over the crown.
Due to Austin’s appeal, housing prices in the city have been on an upward trajectory for years now, so affordability is one of the chief reasons why young professionals are turning to San Antonio. In fact, according to DCInno.com, San Antonio has been ranked among the nation’s fastest-growing cities for college-educated millennials over the last four years, with a 30% increase in that demographic, 2% higher than Austin.
Time magazine supports San Antonio’s claim as one of the top cities for millennials, ranking the city second-most popular city to move to in the nation among millennials. Thinking about moving to San Antonio?
What can you say about Denver? The city is loved by just about everyone, especially millennials. Forbes ranks Denver as the 7th best city for millennials. According to the Metro Denver Economic Development Corporation, millennials make up Denver’s largest generational group (24%).
“In the past five years, we’ve had very strong population growth in Metro Denver. Millennials choosing to move here has been key to that increase,” said Patty Silverstein, president of Development Research Partners and chief economist for the Metro Denver EDC.
With Denver’s beautiful scenery, outdoorsman atmosphere, booming economy, and startup-friendly environment, it’s no wonder why Denver is attracting young professionals from all over the globe to neighborhoods like Inverness, Meridian, Superior, and Dove Valley.
If you are thinking about relocating to a new city this summer, these three are among the hottest among millennials this year. But you better not wait; there’s a job and a home just waiting for you – go and get them before someone else does.
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