According to Pew Research, the vast majority of Millennials (88%) live in metro areas. According to Niche.com, the top 10 cities for Millennials are Cambridge, MA, San Francisco, CA, Arlington, VA, Seattle, WA, Washington, DC, Berkeley, CA, Alexandria, VA, and Denver, CO. New York, NY comes in at number eleven. These rankings are “based on the number of millennial residents, job opportunities, and access to bars, restaurants, and affordable housing” (Niche.com).
Financial technology company SmartAsset looked at the number of millennials moving in and out of major US cities. Based on their research, you can add the following cities to your list: Columbia, SC, Sacramento, CA, Jacksonville, FL, Newport News, VA, San Jose, CA, Norfolk, VA, Virginia Beach, VA, Charlotte, NC, Nashville, TN, and Cincinnati, OH.
PennyHoarder has yet another list. This one focuses on affordability and lifestyle. Their top ten are St. Louis, MO, Grand Rapids, MI, Indianapolis, IN, Columbus, OH, Pittsburgh, PA, Colorado Springs, CO, Nashville, TN, Boulder, CO, San Antonio, TX, and New Orleans, LA.
Other lists of top cities for Millennials abound. In a certain sense, the perfect place is a matter of personal preference. To give you a sense of how much luxury apartments go for, RentCafe compiled average prices of high-end apartments in several major cities. They found that a luxury apartment in El Paso, TX goes for just under $1,000 dollars, while a similar place in New York City goes for more than $4,000.
All of these cities (and others) have up and coming neighborhoods or nearby suburbs which offer luxury at a bargain. As an example, at the time of writing, a luxury one-bedroom, one-bath apartment in Fort Lee, NJ (near the George Washington Bridge) was listed at $1,850 a month. This includes a view of the New York skyline, 24-hour doorman, gym, tennis court, two pools, all utilities and one parking space. You can find similar gems in or near the city of your choice.
Photo by Bruno Moretti from Pexels
- Give yourself plenty of time to find the right place, but when you do, act quickly.
- If you have excellent credit and a steady job, you may be in a position to negotiate a better rent or better terms on your lease.
- When narrowing your choices, drive by each place during different times of day and night to get a complete picture of what the neighborhood is like.
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