When millennials move, it's frequently for a job or in pursuit of a new lifestyle, according to a Mayflower analysis.
In Texas, Dallas is the most popular location for millennials, and the city is working to alter its top priorities and image to much better attract that younger generation.
What makes Dallas popular?
Dallas has been working to promote a healthy way of life for homeowners-- a huge draw for millennials who seek outdoor experience. The location has one of the biggest park systems of any town.
There are more than 400 parks spread out over about 21,000 acres of land. The nearby River Tradition Parks and Arbor Hills Nature Protect contribute to that number.
Some popular locations in Dallas include the Bishop Arts District, Klyde Warren Park, NorthPark Center, Parliament bar and Uncle Uber's Sammich Shop.
Dallas has growing profession opportunities
Dallas makes sense if the majority of millennials are moving for a job.
According to the Bureau of Labor Data, the unemployment rate for the Dallas-Fort Worth location in February was 4.3%, below the nationwide average of 4.9%.
Looking at the specific counties that make up the Dallas location, Denton County's unemployment rate sits at 3.9% while Dallas County was 4.5%-- the greatest in the area, and still below the nationwide average.
And net development of employment in the location in between February 2016 and February 2017. The results reveal non-farm work in the Dallas area increased 3.5% during this time period, while the national average was only 1.7%.
Stanley W. Suchman, an assistant commissioner for local operations for BLS's Southwestern Details Office, noted Dallas was 2nd in the variety of tasks added and the rate of growth among the 12 biggest metropolitan areas in the country.
The location outmatched job growth in every industry included on the report. The rate of growth by market for the time period:
Education and health services-- 3.0%.
Financial activities-- 3.7%.
Federal government-- 1.8%.
Details-- 1.5%.
Leisure and hospitality-- 6.1%.
Production-- 0.5%.
Other services-- 4.9%.
Specialist and business services-- 4.2%.
Trade, transportation, and utilities-- 3.6%.
According to the most recent find more statistics, millennials moving to the Dallas area in search of a job are most likely to discover one.
City transforming itself.
The city has an objective of drawing in more millennial locals and is taking steps to spur neighborhood advancement, according to a recent press release from the Dallas Regional Chamber of Commerce.
Convenience is a significant draw for millennials, and the city intends to make living in Dallas more practical by encouraging locations where citizens can live within walking distance of home entertainment, dining establishments, and shopping.
This is one area in which the city might use some improvement. According to WalkScore.com, Dallas is mainly automobile dependent and ranks as the 24th most walkable big city in the nation. The University of Texas is assisting the city research study the situation to make suggestions for pedestrian-friendly improvement.
Millennials likewise tend to seek out locations that are socially progressive.
The city aims to be not just progressive in its policies but likewise to foster a culture of addition. Dallas has a dedicated to increasing variety and the atmosphere of addition throughout the area.
Thriving Real Estate Market.
The housing market in the Dallas location has experienced significant growth over the last a number of years. This is excellent for those who own homes and gain from increasing equity, but it has been more troublesome for purchasers looking for a bargain.
According to the House Purchasing Institute, the market is beginning to stabilize. While costs will likely continue increasing, it needs to see this be at a slower rate throughout 2017.
Builders are focusing on filling the need for homes in the $300,000-$ 500,000 range, which has been underserved. This could indicate a higher choice of houses for young experts thinking about relocating to the location and aiming to purchase in an inexpensive range.
The Dallas area currently has a lot to use millennials, and with the city's dedications to organized growth, it is likely to remain at the top of their moving list.