Many roads lead to Texas & DFW as millennials look for opportunities and quality of life
Recently, 2017 Census data was analyzed to assess millennial migration patterns in the US
August 14, 2019
- Recently, 2017 Census data was analyzed to assess millennial migration patterns in the US.
- Texas came in second, behind Washington state – and DFW ranked 1st of all the cities evaluated. Key reasons driving millennial migration were job opportunities, affordable housing, and quality of life.
- Texas & DFW have been adding significant jobs. Since 2010, DFW alone has added more than 900,000 jobs.
- While job opportunities are critical, affordability directly impacts quality of life and an area’s “livability”.
- Texas & DFW come to the top due to their dynamic economies that drive above average incomes. After adjusting for cost of living, Texas millennials have up to a $9,400 advantage in spending power over the US average.
- That lower cost of living in Texas & DFW compared to other major markets creates a “magnet” for millennial households looking to grow their careers and balance their jobs with quality of life.
Source: SmartAsset; ESRI; Council for Community and Economic Research; JLL Research