Millennials are relocating to new cities in droves, with 25% of the generation moving to a different metropolitan area in 2022 alone.
Cambridge, Massachusetts, had the highest rate of millennials moving in, with members of the generation making up nearly 38% of the total population.
That’s all according to a recent SmartAsset study, which used data for 268 cities pulled from the Census Bureau’s 1-year American Community Survey for 2022 to determine where people ages 25 to 44 had migrated. The study then ranked the cities based on the rate at which millennials moved in as a percentage of the total population.
These are the top 10 cities where millennials are moving the most, according to SmartAsset.
1. Cambridge, Massachusetts
- New millennials as percentage of population: 14.7%
- Total millennials as percentage of population: 37.7%
2. Santa Clara, California
- New millennials as percentage of population: 13.3%
- Total millennials as percentage of population: 39.9%
3. Seattle
- New millennials as percentage of population: 12.5%
- Total millennials as percentage of population: 41.2%
4. Sunnyvale, California
- New millennials as percentage of population: 12.5%
- Total millennials as percentage of population: 39.7%
5. Denver
- New millennials as percentage of population: 12.1%
- Total millennials as percentage of population: 40.8%
6. Arlington, Virginia
- New millennials as percentage of population: 11.5%
- Total millennials as percentage of population: 39.5%
7. Bellevue, Washington
- New millennials as percentage of population: 11.3%
- Total millennials as percentage of population: 35.2%
8. Killeen, Texas
- New millennials as percentage of population: 10.8%
- Total millennials as percentage of population: 35%
9. Austin, Texas
- New millennials as percentage of population: 10.7%
- Total millennials as percentage of population: 40.4%
10. Sandy Springs, Georgia
- New millennials as percentage of population: 10.5%
- Total millennials as percentage of population: 32%
Given that Cambridge was named the No. 1 best U.S. city to live in earlier this year, its spot at the top of this list isn’t surprising. In 2022, more than 17,200 millennials moved to the city, which is known for its prestigious universities and vibrant tech sector.
The city that saw the second-highest rate of incoming millennials — Santa Clara, California — is in Silicon Valley, an area home to many high-profile tech companies from Google to Nvidia.
Over 93,300 millennials moved to Seattle last year, where the generation commands the greatest chunk of the population out of any city on the top 10 list: Over 41% of its population are millennials.
DON’T MISS: Want to be smarter and more successful with your money, work & life? Sign up for our new newsletter!
Get CNBC’s free Warren Buffett Guide to Investing, which distills the billionaire’s No. 1 best piece of advice for regular investors, do’s and don’ts, and three key investing principles into a clear and simple guidebook.
Read the full article here
