When millennials move, it's often for a job or in pursuit of a brand-new lifestyle, according to a Mayflower analysis.
In Texas, Dallas is the most popular location for millennials, and the city is working to change its top priorities and image to much 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 experience. The location has among the biggest 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 contribute 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 a lot of millennials are moving for a job, Dallas makes sense.
According to the Bureau of Labor Statistics, the unemployment rate for the Dallas-Fort Worth location in February was 4.3%, listed below the nationwide average of 4.9%.
Looking at the individual counties that make up the Dallas location, Denton County's joblessness rate sits at 3.9% while Dallas County was 4.5%-- the highest in the region, and still listed below the nationwide average.
And net growth 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 nationwide average was only 1.7%.
Stanley W. Suchman, an assistant commissioner for regional operations for BLS's Southwestern Information Workplace, kept in mind Dallas was 2nd in the number of jobs added and the rate of growth amongst the 12 biggest cosmopolitan areas in the country.
The location exceeded task growth 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%.
Federal government-- 1.8%.
Information-- 1.5%.
Leisure and hospitality-- 6.1%.
Manufacturing-- 0.5%.
Other services-- 4.9%.
Professional and service services-- 4.2%.
Trade, transport, and utilities-- 3.6%.
According to the most recent statistics, millennials transferring to the Dallas location in search of a task are most likely to discover one.
City reinventing itself.
The city has check my site a goal of bring in more millennial residents and is taking steps to stimulate neighborhood advancement, according to a recent press release from the Dallas Regional Chamber of Commerce.
Convenience is a major draw for millennials, and the city intends to make living in Dallas easier by motivating areas where residents can live within walking distance of entertainment, restaurants, and shopping.
This is one location in which the city could use some improvement. According to WalkScore.com, Dallas is mostly automobile reliant and ranks as the 24th most walkable big city in the nation. The University of Texas is helping the city research study the situation to make recommendations for pedestrian-friendly improvement.
Millennials also tend to look for places that are socially progressive.
The city aims to be not only progressive in its policies however likewise to promote a culture of inclusion. Dallas has a committed to increasing diversity and the atmosphere of inclusion throughout the location.
Growing Real Estate Market.
The housing market in the Dallas area has actually experienced considerable growth over the last several years. This is excellent for those who own homes and benefit from increasing equity, but it has actually been more troublesome for buyers trying to find a bargain.
According to the Home Purchasing Institute, the market is beginning to support. While prices will likely continue increasing, it must be at a slower rate throughout 2017.
Builders are concentrating on filling the need for houses in the $300,000-$ 500,000 variety, which has been underserved. This might imply a higher selection of homes for young specialists interested in relocating to the area and aiming to purchase in a budget friendly range.
The Dallas area currently has a lot to offer millennials, and with the city's commitments to organized development, it is likely to remain at the top of their relocation list.