Red State Attraction Millennials Choose Texas and Montana Over New York and California

Red State Attraction: Millennials Choose Texas and Montana Over New York and California

According to a new study, the majority of millennials stayed put in 2023, but those who did relocate tended to prefer red-leaning areas and cities over blue locations. HireAHelper, an online marketplace for seeking moving services, recently published its Millennial Migration report, which examined Census Bureau data to discover how many millennials relocated in 2023, where they went, and why.

Over the last ten years, the percentage of millennials who relocated has decreased from 21% in 2013 to just under 11% in 2023, a faster reduction than the overall national dip in relocating.

Economic and lifestyle changes topped the list of reasons why millennials choose to relocate, with 16% wanting new or better housing, 13% wanting to change careers, 11% wanting to have a family, and 9% wanting to own a home or find cheaper accommodation. According to HireAHelper, the number of millennials looking for more affordable homes has reached its highest level since 2011, as mortgage rates and rental costs continue to rise.

The demand for more inexpensive housing is consistent with the study’s findings, which show that millennials often prefer red states and locales over blue states and cities for their major move in 2023.

According to the report, Texas attracted the most millennials from out of state, with over 400,000 living in the Lone Star state. Montana had the biggest net positive migration of any state, with 95% more millennials moving in than out, followed by Connecticut (56%), and Maine (54%).

Oklahoma, New Hampshire, South Carolina, Florida, Tennessee, and Arizona were the next top locations to witness positive net migration from this generation.

Miranda Marquit, HireAHelper’s spokesperson and consumer advocate, says these regions are appealing to those looking for a slower pace of life while still having access to the facilities that major cities nearby provide.

“I believe that Montana and Connecticut have something in common: they are both mid-sized communities that provide some amenities while also offering what many people consider to be a slower pace of life. “Right?” she said.

“So if you’re relocating to Connecticut, you’re looking for a suburban feel where you can get away from the hustle and bustle while yet having access to a nearby city. “If you’re moving to Montana, I’m sure you’re looking for something else, a different kind of lifestyle,” she said. “And so I think that it really depends on what kind of lifestyle are you looking for, what matters to you…” .

Deep blue locations, such as New York, California, Massachusetts, and Illinois, experienced the biggest negative migration rate, with 52%, 39%, 28%, and 25% more millennials departing than moving in, respectively.

Washington, D.C., Iowa, Louisiana, Wisconsin, North Dakota, and Arkansas all saw more millennials leave than enter.

At the metropolitan level, Tampa, Florida, was the most coveted place, with nearly twice as many individuals moving as departing. Las Vegas, Nevada, and Austin, Texas were also among the top destinations for positive millennial net migration.

The analysis discovered that more millenials left than entered the metro areas of New York, San Jose, Los Angeles, Detroit, San Francisco, El Paso, Milwaukee, Chicago, and Miami.

According to HireAHelper’s research, 60% of millennials who intended to relocate in 2023 were unable to do so due to financial constraints. Marquit feels the reduction is primarily due to a natural life stage shift for this generation, but it also reflects contemporary economic concerns.

Looking ahead, she predicts many young folks will stay put as interest rates remain extremely high.

“Right now, with half of millennials owning their houses, I don’t anticipate to see a significant increase in millennials moving in 2024. I believe many of them will stay put and wait to see whether mortgage rates fall. Wait and see if house prices moderate slightly. We haven’t seen home prices drop as much as we thought in the last year or two,” she remarked.

Leave a Reply

Your email address will not be published. Required fields are marked *