CBRM ranks No. 75 for millennials

Municipality boasts most affordable housing market in country, according to stats

A Canadian real estate website studying market trends released its latest survey this week showing the cities where millennials are most likely to settle and the reasons why.

The top 85 population regions were classified by Point2 Homes using nine metrics — yearly income, average home selling price, unemployment rate, life satisfaction, crime rate, health care, climate, level of education, and percentage of millennials of the total population.

Each criterion was graded from 1 to 85 and then calculated a total attractiveness score for each city by summing these grades up. Based on this score, each city received a ranking.

The Cape Breton Regional Municipality placed in 75th spot overall, while Halifax ranked No. 4.

Figures were gathered over the past three months from Statistics Canada.

Cape Breton ranked in the top spot as the most affordable market to buy a home with an average price of $132,833. The municipality received its worst ranking in No. 82 spot for the percentage of millennials as part of the total population with 15.03 per cent.

Other metrics that determined the CBRM’s ranking in the survey:

• Millennials’ median yearly income: $70,140 (No. 48)

• Unemployment rate: 17.4 per cent (No. 41)

• Percentage of population with bachelor’s degree or above: 18.2 per cent (No. 75)

• Crime severity index: 47.48 (No. 11)

• Health-care index: 75.99 (No. 11)

• Climate index: 45.13 (No. 36)

• Life satisfaction of millennials: 93.2 per cent (No. 31)

Quebec City stood out overall as the most appealing Canadian location for Generation Y, and the Township of Langley, B.C. is the least desirable.

View the full study at https:// www.point2homes.com/news/ canada-real-estate/millennialcities-ranked.html.