08 May . 2019
Austin ranks No. 1 for fun in Millennial Desirability Index
It’s no secret that Austin is a hotbed for Millennials, and now a new analysis confirms it.
Austin ranks No. 3 nationally in the Millennial Desirability Index (MDI) created by Meyers Research, national real estate research firm. With an overall MDI score of 138.5, Austin is outranked only by Dallas (158) and Houston (157.3).
Looking only at the Fun Index, one of six metrics in the overall MDI, Austin ranks No. 1 in the nation.
The MDI ranks the most desirable cities for Millennials based on job growth, total employment, cost of living, wage potential, quality of life, fun index and affordable housing availability. The data came from sources including the U.S. Census Bureau and the Bureau of Labor Statistics.
In its third annual survey of Millennials born between 1980 and 2000, Meyers found that 60 percent of people in this generation have seriously considered moving to a new city in search of better economic, housing and lifestyle opportunities.
Among those 60 percent who expressed the most desire to move, Meyers found some interesting data points:
- 70% of those between 19-24 would consider moving, compared to 45% of those 35-39.
- 60% of those who are currently renting would be open to moving to a new city. Only 40% who already own homes said they would be open to moving.
- The strongest motivations for moving to a new city include job opportunities (30%), affordability (20%) and lifestyle (12%).
Though Austin has a reputation as an expensive city for housing, it actually ranks as the No. 1 city in Texas for first-time homebuyers, according to an analysis from Bankrate.com, which measured affordability in the 50 largest U.S. cities.
Affordable new homes offered in close-in Austin suburbs such as Georgetown helped Austin rank so highly in the Bankrate.com study. Explore new homes priced from the low $200,000s in Rancho Sienna.
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