Young adults have dreams of living in New York City or San Francisco, but at some point dollars and cents win out.
According to MarketWatch, Salt Lake City, Miami and Orlando are the top three cities for Millennials. All three cities have growing economies and job opportunities for young adults. Other desirable cities include Houston, Buffalo, N.Y., and Albany, N.Y.
Realtor.com ranked the cities according to the page views of each area compared to the national average, with affordability and job availability factored in. Seattle, Los Angeles, and San Jose also made the list.
They may not be spending more than half of their income on rent like they would in Miami, but in Los Angeles, for example, millennial renters would be paying almost 40% of their income on rent compared with the average renter, at 34%.
Advertisement
Related Stories
Affordability
The Disappearing Act That Is Middle-Income Housing
An expert weighs in on the diminishing supply of middle-income housing, which is particularly acute in California, and what to do about it
Off-Site Construction
Utah Passes Bill to Regulate Modular Construction at the State Level
Goals for housing innovation and affordability meet in the Utah's passage of a new bill that establishes a statewide modular construction program
Affordability
Affordability Improves, but the Average Worker Still Struggles to Afford a Home
Homeownership around the U.S. continues to require historically large portions of worker wages, a new housing-affordability report finds
