A significant portion of the US population is made up of millennials. Actually, millennials have now surpassed baby boomers in numbers according to the US Census Bureau. Now, more than 25% of the population is accounted for by people ages 18-34. Naturally, young adults, especially young professionals, exhibit a higher migration rate due to their usual lack of children and the fact that they are likely pursuing the beginnings of their careers. This often requires relocation either from high school to college, or college to their first job. Being able to identify the reasons for relocation among millennials and the areas in which they are most willing to move is beneficial for almost any business.
Why do millennials move?
Young adults are almost always primarily motivated to move by a new job opportunity. At this moment in time, the majority of millennials are in a fairly similar stage in life: graduating college and searching for their first full-time employment opportunity. In order to accomplish this, most are willing to relocate to a new area if it means finding the job they are looking for.
For obvious reasons, those millennials who have yet to have kids of their own will find it much easier to move for employment opportunities. But, another common motivation for relocation among millennials is for relationships. Many people in this generation are willing and able to follow their significant other to a new city in order to maintain their relationship more easily. Similarly, one may choose to move back closer to family if they had chosen to move away from home for college.
Millennial Relocation Hot Spots
According to the American Institute for Economic Research (AIER), millennials are most likely to move to urban areas. They’re seeking out these places because of the job opportunities and amenities typically found in large cities. The benefits of these locations include public transportation, social activities and retail stores.
The trends are showing that this generation of millennial young adults are most likely to relocate to an urban area. The American Institute for Economic Research reports that millennials typically seek out urban areas for their increased employment opportunities and amenities that are more commonly found there compared to suburban or rural locations.
The three most popular relocation destinations for millennials today are Washington DC, San Francisco, and Boston, MA. Cities like these have a lot to offer to young adults and professionals alike. They all show higher-than-average mean salary incomes, rates of higher education, and diversity.
Organizations of all kinds should keep this in mind in their efforts to attract millennials to their location.
If you are relocating soon, call your local Kansas City relocation company, A. Arnold Moving, today!