Generation Y, which has been coming of age in recent years, is on the move. A new report by Moving.com identified the best metropolitan areas for 18 to 29 year-olds with affordable housing, low unemployment and access to nearby attractions and education. According to the report, these cities are far better suited for young people than others.
While the cities on this list do not have the lowest rents, home prices or unemployment, they have the best combination of all three. According to the data provided by Moving.com, housing costs in these areas are certainly affordable. And considering they are in generally large cities — where average costs can often be high — they are a bargain.
Moving.com, a leading online resource for local, long-distance international moving needs, identified the best cities for millennials by identifying states with the highest inflow of new residents between 2008 and 2009, based on the U.S. Census Bureau’s Geographical Mobility report. Moving.com then identified the cities and metropolitan statistical areas in those regions that had low unemployment as well as relatively low rent and home prices. All values were from May of this year. Some of the regions identified by Moving.com are cities, and some are MSAs, which include major cities and their surrounding area. In addition to the data compiled by Moving.com, 24/7 Wall St. reviewed rates of commuters who walk or use public transportation, median income and educational attainment, all from the U.S. Census Bureau for 2010, the most recent available year. In those instances where Moving.com considered a city instead of an MSA, 24/7 Wall St. used MSA data from the Census Bureau as a proxy.
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