Recently, Redfin released a new study about the patterns of millennial and Gen Z migration to determine where young people were most often moving to in the US. Many, as it turns out, are heading for the Lone Star State—though each generation looks to be settling into different areas for their own unique reasons.
According to millennial and Gen Z migration data gathered from the US Census, Redfin discovered that millennials (individuals in their 30s and 40s) were most often moving to Houston and Dallas when they were packing their bags for Texas.
This particular group seemingly based their decision off key components like proximity to large centers of employment, lower home costs, and more space.
Redfin’s analysts noted, “All five of the most popular destinations for millennials have a median home-sale price of less than $450,000.”
Roughly 16,365 more millennials settled in Houston compared to the number who were heading out of town. Dallas was shortly behind that stat with 13,072 more millennials moving into the city as opposed to how many were moving out.
One of Redfin’s principal economists, Sheharyar Bokhari, broke down the differences between what millennials were looking for versus what Gen Zers were seeking when they narrowed down which Texas neighborhoods they wanted to live in.
Bokhari said, “Gen Zers are chasing opportunity, while millennials are chasing space.”
He added, “Younger adults are gravitating toward cities where they can launch careers and their social lives, while millennials are more focused on places where a paycheck stretches further and buying a home is attainable.”
Of equal interest is the fact that young adults across the board are seemingly chasing immediate opportunities instead of long-term living arrangements.
Bokhari explained, “Young Americans aren’t fleeing expensive cities for the cheapest place they can find: Most are making relatively short moves, suggesting they want a better job or lower cost of living without giving up their existing networks. And the fact that expensive coastal cities are losing residents from both generations is a reminder that even the biggest job centers can lose their pull when housing costs get too high.”
Gen Z migration impacting other areas of the state
While Houston and Dallas reign supreme for millennials, Gen Zers are primarily heading toward San Antonio instead. Around 10,678 members of that generation have moved into the city in recent years. Rounding out the Top 3 destinations in Texas were Austin and Dallas.
Redfin’s analyst said that Texas’s metros were appealing to Gen Zers because they’re “particularly attractive places to start a career.” And it isn’t just Houston, Dallas, and Austin that are drawing in larger crowds of Young Americans—the surrounding suburbs are equally appealing.
That’s because nearby neighborhoods provide Gen Zers with direct access to the things they most want to enjoy in the city while providing less expensive housing options than the metros themselves.
Analysis conducted by Redfin determined that, “Austin is known for both its strong job market and vibrant live-music and food culture.
Back in 2014, when the U.S. was coming out of the Great Recession, young people were flocking to smaller cities instead of the most well-known job hubs, like New York and Los Angeles. Those slightly smaller cities offered a combination of strong job markets and proximity to recreation.”
Given how much there is to do in those areas nowadays, it’s easy to see why Gen Z is choosing to settle down in Texas for the immediate future.
This article first appeared on Good Info News Wire and is republished here under a Creative Commons license.
