(Credit: Pixabay, Adoramassey via Wikimedia Commons)
Millennials are increasingly moving west.
CNBC ranked what areas saw the biggest influx of millennials between 2011 and 2016 by using a combination of data from Zillow and RENTCafé. The report found that, though New York is among millennials’ top places to live, three Los Angeles neighborhoods in the top 10 made LA the most attractive city for the generation.
But are the incoming millennials able to afford their adopted cities? It’s an open question as more than 60 percent of the generation have less than $1,000 in savings as CNBC noted, though economist Issi Romem found that most newcomers to cities like LA and NYC earn significantly more than locals who are increasingly priced out of the market.
Organized by zip code, here’s a closer look at the top 10 places 20- and 30-somethings are moving to in droves. [CNBC]—Erin Hudson
(Credit: Pixabay)
1. Los Angeles, California
Neighborhood: Downtown, 90014
Millennial increase: 91.4 percent
Number of new millennials: 3,000
Median home value: $533,500
2. Los Angeles, California
Neighborhood: Downtown, 90013
Millennial increase: 60 percent
Number of new millennials: 4,700
Median home value: $567,200
(Credit: Pexels)
3. New York, New York
Neighborhood: Battery Park City, 10282
Millennial increase: 54.5 percent
Number of new millennials: 2,300
Median home value: No Zillow data. Real-estate website Redfin lists the average home sale price over the last month at $825,000.
Portland. (Credit: Tusharkoley/Shutterstock)
4. Portland, Oregon
Neighborhood: Kerns / Laurelhurst, 97232
Millennial increase: 51.8 percent
Number of new millennials: 5,700
Median home value: $600,700
5. New York, New York
Neighborhood: Lincoln Square, 10069
Millennial increase: 47.7 percent
Number of new millennials: 2,200
Median home value: $1.9 million
6. Jacksonville, Florida
Neighborhood: Riverside, 32204
Millennial increase: 45.3 percent
Number of new millennials: 3,000
Median home value: $194,600
7. Los Angeles, California
Neighborhood: Mid-Wilshire, 90048
Millennial increase: 38.9 percent
Number of new millennials: 10,300
Median home value: $1.7 million
(Credit: Lee Cannon)
8. Philadelphia, Pennsylvania
Neighborhood: Kensington, 19125
Millennial increase: 37.4 percent
Number of new millennials: 11,200
Median home value: $265,000
(Credit: heyengel/Shutterstock)
9. San Francisco, California
Neighborhood: Castro, 94114
Millennial increase: 37.4 percent
Number of new millennials: 12,500
Median home value: $1.9 million
(Credit: Pixabay)
10. Washington, D.C.
Neighborhood: Southwest Waterfront, 20024
Millennial increase: 37.2 percent
Number of new millennials: 5,100
Median home value: $403,300
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