Are Millennials Shying Away From New York And San Francisco?
A recent survey revealed that Millennials are increasingly staying away from New York City and San Francisco, opting to live in more affordable cities with robust job markets.
Realtor.com ranked Salt Lake City, Miami and Orlando as the top three cities for Millennials according to job availability and affordability; neither New York nor San Francisco even made it into the top five, MarketWatch reports. In Salt Lake City, Millennials are 15.8% of the population, higher than the 13% U.S. average.
Today’s young talent is much more concerned with a city’s lifestyle offerings than its job market, and this trend is forcing companies to adapt and follow the talent. Employers are investing millions in office development and expansion in the country’s leading and secondary markets, a trend that is growing in prevalence as the labor market tightens and young talent becomes increasingly scarce.