Millennials, according to SmartAsset’s 2023 study of U.S. Census data, are moving to the coasts, but not to the biggest cities. According to their definition of “millennial” as anyone between the ages of 25 and 44, SmartAsset determined that one in four millennials moved to a different city, many for work or cost of living concerns.
Where Millennials Are Moving
Cities are ranked by the rate at which people aged 25-44 who moved in in 2022, as a percentage of the total population.
| 1 | Cambridge, Massachusetts | 14.74% | 17,275 | 37.74% |
|---|---|---|---|---|
| 2 | Santa Clara, California | 13.26% | 16,661 | 39.87% |
| 3 | Seattle, Washington | 12.54% | 93,302 | 41.15% |
| 4 | Sunnyvale, California | 12.53% | 18,862 | 39.70% |
| 5 | Denver, Colorado | 12.11% | 85,390 | 40.78% |
| 6 | Arlington, Virginia | 11.54% | 26,699 | 39.52% |
| 7 | Bellevue, Washington | 11.31% | 17,131 | 35.15% |
| 8 | Killeen, Texas | 10.81% | 16,853 | 34.96% |
| 9 | Austin, Texas | 10.71% | 103,461 | 40.42% |
| 10 | Sandy Springs, Georgia | 10.49% | 11,210 | 32.05% |
Our Take
These cities may look a lot different, but they all have one thing in common: opportunity. These cities offer lower cost of living and a change of pace from the big cities, both attractive options for remote workers. Millennials’ preferences are changing too. More than half say it’s very important that the home they purchase has the potential for rental income. Be attentive to these trends and market yourself accordingly.