Real Estate News

Millennial ranking declares best place for this demographic

Published: 17 May 2017

If millennials are set to play a key role in the housing market, then what are the places they'll probably move to the most? To understand that, you need to identify what matters to this demographic, and that's what the neighborhood ranking site Niche recently did.

In its 2017 Best Cities for Millennials in America ranking, Niche notably looked not just at economic factors but also at lifestyle concerns that could sway a possible homeowner in making their decision. In fact, the poll weighed things like access to bars, coffee shops and restaurants more heavily than cost of living or the change in area employment levels. The most significant factor, weighted at 15 percent, was the number of millennial residents in each city.

According to this ranking, Arlington, Virginia, placed highest, above other, more well-known millennial havens such as Cambridge, Massachusetts and San Francisco. The entire scope of the ranking included 228 U.S. cities in total.

Niche is far from the only company interested in this topic at the moment, though. A millennial-focused firm named Growella recently ranked Durham, North Carolina as the best city for this demographic, although it tied with Nashville for cities in the south and only boasted a population of 100,100 people between the ages of 20 and 34.

Not surprisingly, this effort involved different priorities from the Niche one. According to Growella, the strength of a paycheck counted the most, contributing to half of a city's total score. This means it was far and away the most significant category, and recreational locations like bars and restaurants only made up 10 percent of the score for each city. Despite the different results, these and other surveys may show the most reliable predictors for what millennials actually want when they move.