Consider millennials and where in the country you imagine they live. It's likely that a couple of cities come to mind: New York, Los Angeles, Austin. But a new report from the Urban Land Institute shows that Americans between the ages of 25-34 are actually moving to much smaller cities. Sure, the big metropolises remain the hubs, but satellite cities are cropping up all across the country where this generation is making their mark.
The study looked at 50 urban areas across the country over the last five years and found that 39 of them saw an uptick in millennial inhabitants while 11 saw a decline. Which cities lost millennial residents? Cities like San Jose, Milwaukee, and Lexington.
As for figures on which cities saw an increase in millennial residents, the top 10 are as follows:
- Virginia Beach, VA
- Richmond, VA
- San Bernadino, CA
- Memphis, TN
- New Orleans, LA
- Austin, TX
- Pittsburgh, PA
- Baltimore, MD
- Boston, MA
- Miami, FL
As for millennials living in urban areas vs. suburban areas the numbers seem pretty unchanged. Since 2010, roughly 21% of millennials have lived in cities while 73% live in suburbs. What does seem to be changing is which cities millennials are choosing to set up shop.