Being a Millennial, I think there’s a lot of truth in this listicle from Niche.com, offering insight in the top 25 cities where adults ages 25 – 34 want to live. Some of it is kind of cliche, including New York (Brooklyn, natch) scoring a place at No. 1 , but other spots are accurate and insightful.
Austin nabs the No. 2 spot and Dallas/Fort Worth comes in No. 8, with Houston trailing far behind at No. 21. Austin and Dallas are in good company among the top 10 cities for Millennials, with “world-class” cities such as Washington, D.C. (No. 3), Chicago (No. 4), San Francisco (No. 5), Boston (No. 6), Denver (No. 7), Minneapolis – St. Paul (No. 9), and San Diego (No. 10).
So, why did our little Texas towns make the list? According to the story by Forbes:
To create this ranking of the 25 Best Cities and Neighborhoods for Millennials, Niche.com analyzed the data of cities and metro areas with one million residents or more from the U.S. Census, FBI, and surveys of nearly half a million college students and graduates from over the past four years. Factors examined include percentage of the population identified as millennials (ages 25 to 34), median income, education level, and racial diversity.
The ranking also favors lower median rents, unemployment rates, and crime rates. Within cities, a similar subset of factors was used to determine the best neighborhood for millennials. User-generated survey data contributed on factors like nightlife, cultural attractions, shopping, and professional sports was also taken into consideration.
“The economic climate right now is difficult for recent college grads,” says Niche.com Director of Business Development Mark Tressler. “With a ranking like this we’re combining the fun stuff with more practical things like safety and the unemployment rate. It’s a good balance of what you need to think about when you’re starting to get serious about life beyond college.”
True, with limited job experience and increasing competition for housing and employment, it’s a challenging market for Millennials. And considering what my generation values most — close-in convenience, shopping, social living, and urban walkability — it’s no wonder that Oak Lawn was the most popular neighborhood for Millennials according to Niche.
Other key insights from the Niche survey shows that in Austin, Millennials make up 17 percent of the population. In D/FW and Houston, the 25 – 34 age group makes up 15 percent of the population. Median rents in D/FW and Houston are $874 and $860, respectively, while in Austin it’s $936 where you’re lucky to live in someone’s converted walk-in closet.
Now, not to stir up a Dallas vs. Fort Worth rivalry or anything, but isn’t it interesting that while the survey included both Metro areas in the list, only Dallas locations (Oak Lawn, Southern Methodist University) are referenced?
So, what do you think of the list? And is Austin becoming less attractive to Millennials as housing prices skyrocket?
