When millennials move, it's frequently for a job or in pursuit of a brand-new lifestyle, according to a Mayflower analysis.
In Texas, Dallas is the most popular destination for millennials, and the city is working to alter its top priorities and image to better appeal to that younger generation.
What makes Dallas popular?
Dallas has actually been working to promote a healthy way of life for residents-- a big draw for millennials who seek outdoor adventure. The area has one of the largest park systems of any town.
There are more than 400 parks expanded over about 21,000 acres of land. The nearby River Legacy Parks and Arbor Hills Nature Preserve add to that number.
Some popular destinations in Dallas include the Bishop Arts District, Klyde Warren Park, NorthPark Center, Parliament bar and Uncle Uber's Sammich Shop.
Dallas has growing career opportunities
If most millennials are moving for a job, Dallas makes sense.
According to the Bureau of Labor Data, the joblessness rate for the Dallas-Fort Worth area in February was 4.3%, below the national average of 4.9%.
Taking a look at the specific counties that comprise the Dallas area, Denton County's unemployment rate sits at 3.9% while Dallas County was 4.5%-- the greatest in the region, 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% throughout this time span, while the national average was just 1.7%.
Stanley W. Suchman, an assistant commissioner for regional operations for BLS's Southwestern Details Office, noted Dallas was 2nd in the number of tasks added and the rate of development among the 12 biggest cities in the country.
The area outmatched job development in every industry consisted of on the report. The rate of growth by market for the time period:
Education and health services-- 3.0%.
Financial activities-- 3.7%.
Leisure and hospitality-- 6.1%.
Other services-- 4.9%.
Specialist and company services-- 4.2%.
Trade, transport, and utilities-- 3.6%.
According to the current data, millennials moving useful reference to the Dallas location searching for a job are likely to discover one.
City transforming itself.
The city has a goal of attracting more millennial citizens and is taking actions to stimulate community development, according to a recent news release from the Dallas Regional Chamber of Commerce.
Benefit is a significant draw for millennials, and the city intends to make living in Dallas easier by encouraging areas where locals can live within walking distance of entertainment, restaurants, and shopping.
This is one area in which the city could use some improvement. According to WalkScore.com, Dallas is largely vehicle dependent and ranks as the 24th most walkable large city in the nation. The University of Texas is assisting the city research study the scenario to make suggestions for pedestrian-friendly enhancement.
Millennials also tend to look for places that are socially progressive.
The city intends to be not just progressive in its policies but also to foster a culture of addition. Dallas has actually a dedicated to increasing diversity and the environment of addition throughout the area.
Booming Real Estate Market.
The real estate market in the Dallas area has actually experienced considerable growth over the last numerous years. This benefits those who own homes and advantage from increasing equity, but it has actually been more problematic for purchasers searching for a bargain.
According to the Home Purchasing Institute, the market is starting to stabilize. While rates will likely continue rising, it needs to be at a slower rate throughout 2017.
Contractors are focusing on filling the need for homes in the $300,000-$ 500,000 range, which has actually been underserved. This could suggest a greater choice of houses for young professionals thinking about moving to the area and aiming to buy in an affordable range.
The Dallas location currently has a lot to use millennials, and with the city's commitments to organized development, it is most likely to remain at the top of their relocation list.