Millennials are moving to these cities. See the list
Despite Arizona's increase in housing costs, a new study shows that more millennials are moving to Arizona than leaving the state.
Hire A Helper revealed that 37% more millennials, which includes anyone born from 1982 to 2000, moved into Arizona than moved away, ranking ninth overall.
Arizona ranked behind Montana, Connecticut, Maine, Oklahoma, New Hampshire, South Carolina, Texas, Florida and Tennessee, with the last two having the same percentage at 38% and, thus, the same ranking.
Phoenix, Mesa and Scottdale, which were categorized as one region, also ranked within the top ten for metro cities millennials are moving to. It ranked seventh, seeing 39% more millennials move into the region than move away.
Where are millenials moving?
Here's the full list of where millennials are, according to Hire A Helper.
1 Tampa-St. Petersburg-Clearwater, Florida
2 Las Vegas-Henderson-Paradise, Nevada
3 Jacksonville, Florida 4 Nashville-Davidson-Franklin, Tennessee
5 Austin-Round Rock, Texas 6 Bridgeport-Stamford-Norwalk, Connecticut
7 Phoenix-Mesa-Scottsdale, Arizona
8 Oklahoma City, Oklahoma 9 Richmond, Virginia
10 Raleigh, North Carolina
Where are millennials moving from?
The study also found that previous hot spots for new and middle-age adults have lost millennials significantly.
1 New York-Newark-Jersey City, New York, New Jersey, Pennsylvania
2 San Jose-Sunnyvale-Santa Clara, California
3 Los Angeles-Long Beach-Anaheim, California
4 Detroit-Warren-Dearborn, Michigan
5 San Francisco-Oakland-Hayward, California
6 El Paso, Texas and MilwaukeeWaukesha-West Allis, Wisconsin
7 Miami-Fort Lauderdale-West Palm Beach, Florida
8 Chicago-Naperville-Elgin, Illinois, Indiana, Wisconsin
9 Hartford-West Hartford-East Hartford, Connecticut
Millenials are moving less
Hire A Helper also found that only 11% of millennials moved in 2023 compared with approximately double a decade ago at 21% in 2013. The most repeated reasons for these moves, however, were “new or better housing,” “new job” or “establishing own household.”
Additionally, the highest percentage of millennials since 2011 said they were moving for “cheaper housing.” This reasoning still did not top the rankings of why millennials were moving.
As of 2023, 50% of millennials owned their own home, while 16% still live with their parents, the study showed. According to Hire A Helper, “2023 had the highest mortgage interest rates in recent history, with the worst home sales record in 28 years.”
Rental housing rates are 22% higher than pre-pandemic, Hire A Helper said. In the same timeframe, average real earnings have risen by only 3.2% in comparison, the U.S. Treasury noted in a December 2023 report.