First things first, let’s compare the data received from the US Census. The American Community Survey’s Pete Saunders has examined the preferences of Millennials when it comes to metropolitan areas in the USA. His research, based on data received from 2010 to 2015, shows exactly what everyone who knows anything about the Millennials would expect. This generation has its mind set on leaving the suburban lifestyles of their parents and moving into the core city centers. His work shows that the cities that educated Millennials have been moving to the most in the above-mentioned period of time have been New York, LA, and Chicago. Keep an eye on Chicago as it has demonstrated a very rapid growth in its youth population in the last few years. So we know that this generation wants to be where the action is – in the city centers, but besides above-mentioned, fairly obvious choices – New York, LA, and Chicago – what are the cities that need to prepare themselves for an avalanche of educated young professionals?
AIRINC, a global research company, has created a list of the cities all around the world that are appealing to the largest demographic in the world today based on several criteria. Their research has shown that the top three cities in the world for workers are: Zurich (Switzerland), Geneva (Switzerland), and Luxembourg City (Luxembourg). Coming in really close are Munich (Germany), Vienna (Austria), and New York City (USA). So Millennials, if you want to be in an environment that will fulfill both your career aspirations and lifestyle choices, pack your bags and get a one-way ticket to Switzerland.
But if you are a Millennial who is interested in homeownership in the USA, realtor.com research could be of help. They have surveyed trends in the USA by targeting the older segment of the Millennials generation – the young people who can afford to buy real estate. Their results show that the top choices of youth today are Salt Lake City, Miami, and Orlando. Now, the main reasons why so many young people are buying homes in these cities are good labor markets and affordable prices. Now you see why suddenly New York City is out of the picture. But other reasons why Salt Lake City is No1 include the fact that it is an “urban city with the relaxed vibe of a mountain town”, while Miami is hot because of its blend of cultures, great night life, and entrepreneurial potential. Orlando, Florida, on the other hand, is in third place mainly because of its work opportunities, good transportation system, and well-developed possibilities for shopping. And keep in mind that Orlando was the “birthplace” of many famous boy bands from the ‘90s. Yes, Millennials still love the 1990s, and they are strange enough to buy a home in Orlando just to prove their love for Backstreet Boys.
As you can see, this is just the tip of the iceberg when it comes to cities that Millennials are taking over. The fact that 71 percent of this generation plans to work abroad at some point in their lives opens up the possibility that other urban centers of the world will improve their image in order to attract the most educated generation ever to become their citizens.