5 Great Cities for Gen Y'ers
BOSTON (MainStreet) -- With mobile phones, mobile computing, Foursquare and GPS, "Generation Y" seems like it's always on the move -- but where should its 20- and 30-something members be moving to?
Move Inc. (MOVE), parent company of Realtor.com and other relocation-oriented Web sites, recently assessed dozens of U.S. cities for everything from nightlife to average apartment rents to find five great places for Gen Y'ers to live. Also called millennials because they've come of age since the year 2000, Gen Y'ers are young adults in their 20s and early to mid-30s.
"We're finding that millennials look at buying homes differently than baby boomers do," Move's Julie Reynolds says. "Where baby boomers look at homes more as investments, millennials see housing as more of a lifestyle option. More millennials are living closer to where they work, closer to the central part of towns and focus on cultural activities and other things to do other than just work."
So Move assessed cities for such things as parks, museums, professional sports teams and other recreational offerings.The firm also focused on communities with nearby colleges and universities, as many Gen Y'ers are looking for undergraduate or graduate-study programs. And since many Gen Y'ers are just starting out and need jobs and affordable housing, Move found cities with low unemployment rates, modest average rents and affordable median home prices. "We looked for communities where the local real estate market has either hit bottom, is very, very close to the bottom or has already begun rebounding," Reynolds says. "We figured [Gen Y'ers] might want to 'test drive' a community as renters, then put down some roots and buy their first homes if they like it."
Lastly, the site picked communities in states a recent U.S. Census Bureau study identified as the top relocation destinations for Americans. Click below for an alphabetical rundown of the five cities Move recommends for Gen Y'ers. Median property prices refer to asking prices on Realtor.com as of May and exclude mobile homes. Average rents reflect listings on Rentbit.coms, and local jobless rates are U.S. Bureau of Labor Statistics figures as of May.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV