Millennials are the leading homebuying cohort, so paying close attention to where they are moving can help home builders understand their buyer demographics. SmartAsset determined the top 10 cities and states where Millennials are moving by analyzing the net migration numbers in 205 of the largest cities in the U.S. for which data was available. In 2020, money-savvy Millennials are flocking to no income cities. They’re trading more expensive cities such as New York City, San Francisco, and Chicago for smaller cities with robust growth like Denver, Dallas, and Nashville. Find out if the city near you made the podium for locations coveted by Millennials.
Young adults today move more than previous generations. A recent Zillow study found that in 2017, close to one in two millennials – more than 45% – had lived in their current home for fewer than two years. By contrast, in 1960, approximately 34% of young adults had lived in their current residences for less than two years.
With the coronavirus pandemic potentially leading many millennials to reconsider where they live, SmartAsset decided to look at the states and cities where millennials have been moving prior to the crisis. Using the most recent Census Bureau data from 2018, we compared the number of people between the ages of 25 and 39 who moved into a state or city to the number of people who moved out. For more information on our data and how we put it together, check out our Data and Methodology section below.